Like trying to get a cheaper hamburger by adding taxes to McDonalds?
Note to libs: this guy is no patriot of this country.
He is obviously ready to retire.
He WANTS to lose the election.
——The complete idiot must be alone in the world if the thinks this will lower gas prices.——
Obama knows perfectly well that raising taxes or ending tax breaks for big oil will not lower prices...they simply pass on the cost of doing business and quite frankly it will hardly affect the price at the pump at all...
He thinks that if enough of “ we the people “ will buy that swill and the media will repeat until it’s the gospel truth to the ignorant or worse
It’s just part of his class warfare rhetoric to obscure the the fact he wants to raise gas prices to make his green energy initiatives more viable
“Shut up and drill”.
What’s even dumber are the voters who believe him and do their part to give him a 2nd term.
Cut the tax breaks other businesses get, and you drive up operating costs. Guess who will wind up paying those operating costs.
It will be added to the cost of the products we buy.
This is such a simple concept. Of course it does reveal that Obama and his flying monkeys have not given up on driving gas prices to $8.00 a gallon, if they can get four more years.
Increasing taxes on oil companies will RAISE the price of gasoline. Reducing the taxes on oil companies and distributors (at the pump) will DECREASE the price of gasoline.
Where was gasoline near $4 per gallon in 2008?
This is an opportunity and a grand one. There are similar tax “breaks” for the motion picture industry, GE, Wall Street, etc.
Look at where Obama gets his money and hit him back with a proposal to remove tax “breaks” specific to those industries. I particularly believe a focus on the motion picure industry would be best. They’ve got some accounting magic that is criminal.
Even the dumbest dork knows that this is total BS.
It is now not a matter of words but of HIS deeds.
I’ve worked here in the oilfields in Texas all my life, it is lunacy in it’s purest form to think that the oil companies will just “soak it up”. Any increase in taxes will be passed on DIRECTLY to consumers. Of course if your intent is to destroy America,and get paid to do it, its a “twofer”
Odongo needs a good dose of castor oil...but then...we’d only be left with an empty suit!!
Idiot doesn’t have the sense to realize that companies do not pay taxes. If you get rid of tax breaks thus raising taxes on the company they will pass that on to the consumer and then we see gas prices go UP. Obozo is part of the problem, not the solution.
Yeah, that’ll make prices go down. *eyeroll*
I really have to say that if this clown gets re-elected, I will have officially lost hope in this country. The marching morons will have taken over.
I am a little surprised by most of the responses here so far. I will admit that I have not read the details of the tax breaks he is talking about. If he is talking about taking tax breaks available to all companies and denying them to the oil companies, then no way. Equal protection would seem to apply there.
And likewise, if he is instead talking about subsidies to the oil companies while still using federal money as a slush fund to line the pocket of his greenie buddies, then no thanks to that too.
But as a free market capitalist, the oil companies (and the car companies, and the “green” companies, etc) should live or die on their own merits, period! No special subsidies. No special tax breaks. So yes, end the tax breaks, but not just for the oil companies, but for all. Or better yet, set a corporate tax rate for all that will encourage job growth, and encourage foreign companies to consider relocating here, instead of the soon-to-be highest corporate tax rate in the world.
He must be counting on those who support him not realizing that oil companies, like any business, will just pass their higher tax bill on to the consumer through the price at the pump.
Win/win for him. He gets to blame the oil companies for high gas prices AND gets more taxes to use to buy votes with (not to pay off debt - can’t buy more votes with that) while getting NONE of the blame for those higher gas prices.
Unfortunately he’s right. The publik skools have did there jobs too well.
It fits with his scheme to goose gas prices up as much as he can.
Ending tax breaks does NOT:
1. Make gasoline cheaper. It makes it more expensive.
2. Give more money to drivers. It gives more money to the government.
3. Produce more oil. Since R&D is reduced, it actually produces less oil and that will serve to drive UP the price of oil