Skip to comments.Buffett and Soros benefit from Obama’s decisions. Us not so much.
Posted on 01/25/2012 8:35:51 AM PST by Starman417
Whenever Barack Obama makes a key decision, it always seems to benefit special supporters. 80% of the money Obama threw away on "green energy" programs went to his big donors. It's become painfully evident that crony capitalism has its fingerprints all over other Barack Obama decisions.
Last year Barack Obama softened up Warren Buffett by awarding Buffett the Medal of Freedom, which Obama felt was appropriate for Buffett having accumulated more than $40 billion in personal wealth. In return, Buffett has become a cheerleader for Obama, voicing his support of Obama's Buffett rule.
WASHINGTON President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials.
The devil, as they say, is always in the details:
Mr. Obama will not specify a rate or other details, and it is unclear how much revenue his plan would raise. But his idea of a millionaires minimum tax will be prominent in the broad plan for long-term deficit reduction that he will outline at the White House on Monday.
Recently Barack Obama said no to the Keystone Pipeline. An article from Bloomberg (which curiously went down the memory hole already) scrapes the ice off the windshield so we can see why:
Warren Buffetts Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administrations decision to reject TransCanada Corp. (TRP)s Keystone XL oil pipeline permit.
With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department.
Whatever people bring to us, were ready to haul, Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffetts Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in an interview. If Keystone XL doesnt happen, were here to haul.
The State Department denied TransCanada a permit on Jan. 18, saying there was not enough time to study the proposal by Feb. 21, a deadline Congress imposed on President Barack Obama. Calgary-based TransCanada has said it intends to re-apply with a route that avoids an environmentally sensitive region of Nebraska, something the Obama administration encouraged.
The rail option, though costlier, would lessen the environmental impact, such as a loss of wetlands and agricultural productivity, compared to the pipeline, according to the State Department analysis. Greenhouse gas emmissions, however, would be worse.
If completed, Keystone XL would deliver 700,000 barrels a day of crude from Albertas oil sands to refineries along the Gulf of Mexico, crossing 1,661 miles (2,673-kilometers) over Montana, South Dakota, Nebraska, Kansas, Oklahoma and Texas.
Obama gives Buffett award. Buffett voices support for Obama. Obama makes decision to help put money in Buffett's pocket.
Obama has what is realistically a complete moratorium on domestic oil exploration and production while at the same time helping to fund Brazil's Petrobas search for oil. In addition, Obama granted Petrobas permission to operate a deep water vessel in the Gulf of Mexico:
(Excerpt) Read more at floppingaces.net...
How could half of the electorate been so selfish and stupid?
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