BARACK 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.

PAKISTAN TO CHANGE EU LAW

No that is not a typo.  Pakistan has asked the European Union to change its laws regarding freedom of expression.  They are asking the EU to change these laws in order to prevent Muslims from being offended by any future incidents.  Pakistan has ensured the EU that if it does not control blasphemous acts against Islam, that more attacks on EU diplomatic missions abroad will not be ruled out ... isn't that just special.

WHAT'S YOUR TEENAGER UP TO THIS SUMMER?

Chances are they probably aren't working.  And who can you thank for that ... the government.

Researchers at Northeaster University estimate that summer 2008 will be "the worst in post-World War II history" for teen summer employment.  Only about one third of American teenagers will have a summer job and the rates are even lower for low-income and minority teens.

So why is this?  One of the main reasons is because of government mandated wage increases.  Economic researchers show, yet again, that increasing the minimum wage destroys jobs for low-skilled workers and does nothing to fight "poverty."  For every 10% increase in the minimum wage, employment for high school dropouts and black teenagers falls by 8.5% ... and in the past 11 months alone, the US government has increased the minimum wage by more than twice that amount.

But the government always knows best ... right?

FOR YOU PARENTS OF GOVERNMENT SCHOOLED CHILDREN

It's summertime, but if you are thinking of sending your kids back to their government schools in the fall, I urge you to read this article from a college professor who decided to teach at a government high school for a little while.  What you read shouldn't shock you.

THIS IS SCARY.

Take three cell phones.  Put them on a table.  Put some popcorn kernels in the middle, and then call the cell phones.  Watch this YouTube video to see what happens.  Is this a fake?

READING ASSIGNMENTS:

Saudi Arabia has now decided it is time to figure out why oil prices are so darn high.

In other news, the price of corn has also climbed to a record high.  Thank ethanol.

Smoking can cause mid-life memory loss.  That's probably OK.  Perhaps it's a good thing if you can forget how incredibly stupid you are.

Republicans are blaming the Democrat-led Congress for $4 a gallon gas prices.

Dick Morris believes that Hillary will be waiting in the curtains for Barack Obama to stumble between now and the convention.

Rev. Michael Pfleger will already be back to work on June 16^th ... that was a quick period of reflection.

Here's something that should have been obvious: President Bush signed an executive order to require contractors who work with the federal government to hire legal US citizens.  Watch the Democrats object.

The United Nations is upset with the United States (there's a big surprise) for its supposed cruelty to child prisoners.

Here are four reasons why the United States economy is doing better than you think.

This is some great research on how right to work states perform better than forced union states.

With the help of their local chapter of CAIR, Muslim immigrants in St. Louis are suing federal officials for conducting slow background checks.

If you are a resident of Cuba, you will be happy to hear that your government is now offering "free" sex changes.

Churches in New Jersey are trying to use the force of government to ban sports games on Sunday mornings.

There's a growing movement out there for people to openly carry their handguns for all to see.

How much water can one government school in Orlando use?  How about more than Sea World or Universal Studios.

Government teachers in Australia are under investigation for shouting at students to "put that down'', "leave him alone'', "sit down'' or "pick up those papers."

Great Britain awarded a government grant of about $70,000 to an Islamic website that backs suicide bombers.

Check out the government school situation in Ireland.  What did they expect?  It's government.

Great Britain seems to be having a problem with people who will blindly follow satellite navigation systems.  Now the government feels the need to step in. 

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