Feeling better, still not 100%, but I wanted to share this Obama news from Boortz

posted in: Eban's Blog | 1

Boortz photo by Chasingfun

Boortz, fairtaxYeah, I know I sort of swore off politics here at this site, but I could not resist posting this today. This is from Neal Boortz’s Neal’s Nuze section this morning.

What is it? It is a list of who actually gets the profits from “evil oil.” You know, the so called windfall profits that Obama wants to seize. This may shock some of you, but most people that read this are already smart enough to have figured this out. My listeners, viewers and readers always rock!

As for my condition. I am getting better everyday. Still not 100%, but getting closer.

Cheers,

Eban

Reprinted from Boortz.com from Neal Boortz

Obama photo by Seiu International

barack obamaBARACK PUSHES WINDFALL PROFITS

Barack Obama has been toying with the idea of imposing a tax on windfall profits on US oil companies, and it will definitely be a part of his presidential platform. Take a look at this latest statement he made in Raleigh, North Carolina. He said, “I’ll make oil companies like Exxon pay a tax on their windfall profits, and we’ll use the money to help families pay for their skyrocketing energy costs and other bills.” Gee, that sounds like a wealth distribution plan if I’ve ever heard one. Rob from the rich to give to the “poor.”

Ok .. first of all, just what are “windfall profits?” Does anyone have a handy definition? Might I offer one? Damn right I might. Try this: “A tax levied on a industry by a politician eager to pander to economically ignorant voters who, for whatever reason, are upset with that industry.”

This term “windfall profits” has become another buzzword for liberals, and particularly the Barack Obama campaign. A majority of Americans probably couldn’t tell you the first thing about windfall profits … but the word inflicts these feelings of evil and wealth envy. Therefore, the Obama campaign will continue to use this fancy term to get you all riled up. Politicians are good at that.

Once again we run up against the economic ignorance of the American people. Most people couldn’t tell you the difference between a profit and a profit margin if their flat-screen TVs depended on it. The profit margins – the amount of money they earn for a dollar of sales – have actually declined a bit. Banking institutions, cosmetics companies and pharmaceutical companies are just part of a long list of businesses that earn more than the evil oil companies.

Hopefully most Americans have enough economic smarts to know that the profits from these oil companies belong to the shareholders. Problem is, these people probably think that the shares in these oil companies are fat-cat insiders just reaping millions a year from their investments.

Wrong.

Throughout the oil and natural gas industries only about 1.5% of the stock is owned by company executives. Now this statistic doesn’t come from the oil companies themselves, the numbers – and the numbers that follow – come from Bill Clinton’s undersecretary of commerce for economic affairs; one Robert J. Shapiro.

Here’s what Shapiro has to say about the ownership of the other 98.5% of oil company shares: “The data show that ownership of industry shares is broadly middle class, with the majority of industry shares held by institutional investors, often on behalf of millions of Americans through mutual funds, pension funds and individual retirement accounts.”

So … when Barack Obama talks about a windfall profits tax, just who’s money is he going to seize? He’s talking about taking the savings, investments and retirement funds of middle class Americans.

Pardon my language … but would you folks please wise up out there? Quit being so damned ignorant to what is really going on!

You want more details on just who owns the shares? OK, I have those details. Just remember, when Obama talks about windfall profits — THESE are the people who’s money he plans to seize:

Again … from the Shapiro study:

  • Almost 43 percent of oil and natural gas company shares are owned by mutual funds and asset management companies that have mutual funds. Mutual funds manage accounts for 55 million U.S. households with a median income of $68,700.
  • Twenty seven percent of shares are owned by other institutional investors like pension funds. In 2004, more than 2,600 pension funds run by federal, state and local governments held almost $64 billion in shares of U.S. oil and natural gas companies. These funds represent the major retirement security for the nation’s current and retired soldiers, teachers, and police and fire personnel at every level of government.
  • Fourteen percent of shares are held in IRA and other personal retirement accounts. Forty five million U.S. households have IRA and other personal retirement accounts, with an average account value of just over $22,000.

You see? The people listed in this study are … YOU! Not fat-cat oil company executives. Not George Bush and Dick Cheney. This is YOUR money he’s after … YOUR money he wants to seize to create yet another government entitlement program … helping people buy gas and pay electricity bills.

Someone (perhaps John Wayne) once said that it is too bad stupidity isn’t painful. Well, in this case is just might be. Look at those median incomes above. That’s you, my friends … and if you sit by and let this anti-capitalist leftist rail against the oil companies; if you sit by and let him pander to the ignorance of the American voters with this idiotic “windfall profits tax” crap … then try not to bitch when your retirement doesn’t turn out to be as sweet as you thought it would.

By the way … if you want to call BS on me with these numbers and statistics, by my guest. Here’s the link for you to read the study for yourself. Knock yourself out, sport.

MORE FROM OBAMA IN NORTH CAROLINA

Barack Obama had a few other statements in Raleigh, North Carolina. Check out this one. He says, “George Bush called it the Ownership Society, but it’s little more than a worn dogma that says we should give more to those at the top and hope that their good fortune trickles down to the hardworking many.” There we go again with Barack Obama chastising those people who wish to succeed without a government handout. Those are the people that we wants to praise – those that are fed up with the idea of an Ownership Society.

And another thing: What’s this about “give more to those at the top?” They aren’t “given” anything. They earn it. Libs … especially ultra far-left libs like Obama … don’t’ want their myrmidons to understand that those with more actually earned to get there. If you can get the idiots who slobber at your feet to believe that they “gave” the wealthy everything they have … .why, then it is so much easier to take it away from them, isn’t it?

Obama is also pandering for the elderly vote too. Take a look at his stance of privatized Social Security: “John McCain wants to pick up where George Bush left off by trying again to privatize Social Security, I will never waver in my commitment to protect that basic promise as President. We will not privatize Social Security, we will not raise the retirement age, and we will save Social Security for future generations by asking the wealthiest Americans to pay their fair share.” I just love that phrase … “fair share.” Doesn’t that phrase just make anyone sound like a wealth-envy idiot? Just how do we define “fair share?” Only liberals and uber-leftists get to define the term. You didn’t know that?

CARING ABOUT HEALTHCARE

Just in case you were not aware, a Washington Post article reminded me on the evil fact that those people with healthcare do not care about those without it. Got it? We evil people who have worked in some way to secure healthcare for ourselves – whether through our job or a private insurer – are evil because we are not constantly worried about those who are too useless or lazy or stupid to secure their own. And because we don’t want the government to be the provider of healthcare, that also makes us evil.

Glad that we got that one cleared up.

One Response

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