Obama Will Tax Oil While Prices Are Low and You Won’t React

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Barack Obama celebrated the allegedly “durable economy” with a new tax on oil.

The US created 151,000 jobs instead of the predicted 190,000. The unemployment rate fell to 4.9% because they don’t count people who have given up looking for work – there are 94 million of them but the CBO sees worsening ahead.  Unfortunately, 70% of the jobs added In January were minimum wage waiters and retail workers.

Obama is the minimum wage for all president.

The jump in wage earners came from retail trade which added 58,000 jobs and food service – waiters, bartenders – added 47,000. The increase comes from state regulations demanding higher minimum wages beginning January 1st. Consumers will now pay 10% more for food in New York City and other places, soon – everywhere.

Obama continues his bad policies with an oil tax that will hit those who can least afford it. He’s not interested in protecting the middle class, he’s obliterating it.

When the prices of oil go back up, the prices won’t come down. Barack Obama knows that. He thinks he has the right to tax us infinitely.

In his Friday speech, Obama made it clear that he wanted to strike while prices are low. He absurdly claimed these low prices will remain for ten years.

“With respect to oil and energy, I will probably make a larger speech about that in the direction we need to go on this. The basic proposition is that right now, gas is $1.80 and gas prices are expected to be lower for a stable future.”

[…]

“The idea is that — old companies by the we got a significant benefit and allow them for the first time to export oil. Up until that point, domestic oil producers could not export. If we say to them now, we know that prices are low right now and you are allowed to export, we are also saying we are going to provide — impose a tax on a barrel of oil imported, exported so that some of that revenue can be used for transportation, investments of basic research, and technology that will be needed for the energy sources of the future. 10 years from now or 20 years from now, we will be in a much stronger position when oil starts to get tight again and prices start going up.”

He will use the money for his pet projects which are not necessarily those of the American people.

Watch:

Josh Earnest tried to say this helps middle class families but it’s the middle class and the poor who get hurt from these higher taxes. He admitted that the oil companies will pass the cost on to the customers. These policies are such obvious failures.

In response to a reporter’s question, Earnest explained that better prices for Americans is an opportunity for the White House to steal their money.

“I think that it does seem likely that oil companies would pass on at least some of that expense, but I think part of the president’s point is that we are seeing that the energy costs are lower than they have been in quite some time. This is precisely the time when we should capitalize on that opportunity. The truth is the argument is stronger when energy prices are at an all-time high. But now we are in a situation where energy prices are a little bit lower and it is a smart time for us to start considering how we can make fiscally responsible investments in new technology and more modern infrastructure and transportation systems that are run on renewable energy; make investments in research and development that would allow us to strengthen the economy, but also allow us to transition to the low carbon energy economy of the future.”

Watch:

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2 COMMENTS

  1. Just about everyone knows these low gas prices we’re experiencing right now are only temporary. The prices will go right back up as soon as “speculators” say that oil supplies are diminishing. They play this game all the time.

    Of course the oil companies will pass this extra cost down to us! But, hey…we’ll just walk outside and pick some more “leaves” from our Money Tree!

    This is BS and they know it!!

  2. From “The Law” by F. Bastiat–“Now, legal plunder can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right to relief, a right to the tools of labor, free credit, and so on, and soon on. All these plans as a whole–with their common aim of legal plunder–constitute SOCIALISM.”

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