Friday, May 08, 2009

Obama's Budget Targets the Poor and Middle Class (via the evil oil companies)

Finally, a hidden tax I can agree with. When oil becomes more expensive because of this tax increase on oil companies, it will be passed along to consumers, just like cigarette tax hikes get passed on to consumers. Guess who will feel the brunt of this tax increase the most: poor and lower middle class people. So in reality this is a tax on them. And since they usually pay no or little income tax because of the progressive (regressive) tax system, then this is completely fair, because they need to share the burden, just as Obama said. WAY TO GO OBAMA!


via Nealz Nuze on 5/8/09

Another detail in Obama's budget is that he plans to end tax breaks for those evil, filthy oil and gas companies. In other words, Obama wants to increase taxes on the oil industry. He wants to end $26 billion in tax breaks, which he classifies as "unjustifiable loopholes ... costly to the American taxpayer and do little to incentivize production or reduce energy prices."

Did he say "costly to the American taxpayers?" Well, he can get away with that because he suspects you don't realize - and many Americans don't - that every penny of additional taxes these evil oil companies have to pay to the federal government will be added to the cost of the products they produce. The tax increases will show up at the gas pumps. I know that this is a difficult concept for the government-educated dumb masses to understand, but corporations - and this includes oil companies - don't pay taxes. They collect taxes from their customers, shareholders and employees and pass them on to the government.

Again ... let me point out that the greatest ally the looters in Washington could possibly have is an uneducated population.


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