Obama '08?

Good afternoon. I saw an article on Politico today with the headline, which I changed a bit: GOP To Make Hay From Gas In May.
The Repubs will hold hearings and introduce bills to increase domestic supply of oil. Obama will talk about the possibility of there being evil speculators manipulating the markets. Not much will be said of our demand for oil.
My belief is that there is ample supply right now, even with the turmoil in the areas thought to be critical. Demand in the U.S. is relatively stable although it is growing in places like China and India.
I am going to be preoccupied with some other stuff for a week or two. Perhaps one or two of you could do some research on oil consumption in the U.S. and other countries.
How much of our oil comes from the mideast. Where do we get our oil.

Let's talk about oil production in the US and the fact
that Obama and his ilk have shut most if it down.

REMEMBER OUR FIRST NECESSARY OBJECTIVE

Our first necessary objective is to elect people to Congress and the presidency who want to stop “excessive government spending and taxation.” Their mission must be to “secure public policy consistent with our three core values of Constitutionally Limited Government, Fiscal Responsibility and Free Markets.”

However, that first objective while necessary is not sufficient. Our next necessary objective is to convince these candidates to replace the current federal tax system with one that is necessary for achieving a government that actually shuns excessive government spending and taxation.

The tax system required is one which prohibits Congress and the President from buying their future elections from selected parts of their constituencies with government tax collections. A tax system which is necessary to achieve that is a tax system that taxes each kind of a thing that is taxed the same regardless of the quantity of those things taxed. Specifically, we must tax each and every dollar of a person’s annual gross income at the same rate (i.e., “uniform” rate) regardless of the size of that gross income.

Then if that uniform tax rate were for example 10%, a gross income of $1,000 would be taxed $100, and a gross income of $1,000 million would be taxed $100 million. There would be zero pay backs, zero deductions, zero exemptions, and zero double taxations (e.g., corporate and inheritance income taxes).

Not only would such a tax system make it difficult to buy votes with tax deductions, it would comply with the Constitution of the USA, Article I, Section 8, 1st paragraph, which says:
“The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States;”

My disagreement with a consumption tax is that it effectively taxes high income individuals a lower percentage of their annual gross income than it does low income individuals. That is because higher income individuals invest--and do not consume-- a larger percentage of their income than do lower income individuals.

The so-called fair tax is worse. The low gross income individuals will not pay any tax--because of the fixed refund all tax payers would receive from the feds--and the middle gross income individuals will pay a greater percentage of their gross income than will the high income individuals. That of course is true because the high gross income individuals invest a higher percentage of their income than they spend, than do the middle gross income individuals. Worse yet, fed politicians could buy more low income votes by their manipulation of the size of that refund.

H2 Oboy says:


Facts? FACTS? H2Oboy don't need no steenking facts. He just makes them up. The FACT is domestic oil production last year was the highest it's been since 2002 (which you may remember was on W.Bush's watch, the failed ex-oilman), which led to a drop in imported oil use last year, one of the goals of the Obama administration.

Note that "as the economy recovered"--due to Obamanomics, after Bushnomics trashed it.
Note also if you will that Obamanomics is planning to increase domestic oil production by 25% in the next four years.
http://seekingalpha.com/article/256204-u-s-oil-production-to-increase-25-by-2016-is-there-a-way-to-play-it

where does H2 Oboy come up with his regular bullshit?

waterboy doesn't understand facts and evidence, and spews b.s. with abandon. I put him on Ignore, because his posts are not worth the time to read; total waste.

42

Beck, O'Reilly, Hannity, Limbaugh, Savage, [fill in the blank with right wing nutcase]

I just read an article claiming that Obamas reelection was in trouble because of the price of gas. I am constantly amazed at the stupidity of the american electorate. We have just as much oil and gas as we had 6 mo. ago so the price increase is due to oil companies charging more for gas and speculators playing with the price of oil. I thought that Okie, waterman and Ican were just too dense to reason but it begins to look as though they are standard citizens. That ought to make everyones day!

If you really know what you claim about the price of oil why aren't you out making a bundle on futures?

No money. I told you i am still trying to get back what i lost to Bushes recession. And I try not to gamble with people smarter than me.

Piss off MJ.

The FACT is domestic oil production has been stifled by the Obama administration.
Further reductions in domestic production is what Obama has planned for this country.
Only the GOP can pressure Obama to reverse his irrational ways and begin to put this country back on the right course.

No, let's talk about alternate energies, particularly solar, and of restructuring the tax system to encourage small families of not more than two children each.

It's not just allwet who has problems with facts. Within the last 72 hours, there have been factual problems with georgeob and finn as well. Their disregard of fact was embarrassing. There isn't a poster on this forum who does credit to the notion of conservatism.

I'm certain your reference went soaring over renaldo's head.

Listening to the news --and I only listen to NPR -- I continually think that there is no connection between Obama and the price of oil. People are so dumb.

That's Life, (the universe and everything) I guess.

That statement only partially explains why you are so dumb.

No, let's talk about the here & now and the immediate future of this country.

Your solar powered 18 wheeler and population control will have to wait.