so·cial·ism –noun- a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
- procedure or practice in accordance with this theory.
- (in Marxist theory) the stage following capitalism in the transition of a society to communism, characterized by the imperfect implementation of collectivist principles.
Exxon Mobil last week reported the highest ever quarterly profit. El Presidente wannabe wants to take a good portion of that profit and give it to the community in the form of more “stimulus” checks. The “windfall” tax. With a profit margin less than two points above the industry standard, where is the windfall? If it’s a 10% profit margin that defines windfall, the majority of American corporations would fall prey to this idiocy. The Illinois Senator said the government would take “a reasonable share” of the major oil companies’ profits. Who decides what a reasonable share is?
During the five previous years, Exxon gave up nearly $65 billion in taxes. Their after-tax earnings for the same period were roughly $19 billion less than that. It sounds to me like their reasonable share has been taken.
Mr. Obama claims concern for the American pocket in its battle against $4/gallon gasoline. What happens when he steals even more from the oil companies and they pass that cost of business on to the consumer? $5 or $6/gallon gas will wipe out a $500 stimulus check and then some.
Obama and his cadre of useful idiots don’t like the oil companies because they make capitalism work. They have defined “windfall profit” as any profit made by an entity they don’t like. In order for them to have the government they want, they desperately need the people to be beholden to them. So they make themselves to be heroes by stealing from the big bad oil companies so they can toss a few bucks to the common folk. This is socialism. Socialism is evil.
So why am I so riled up about an idea that could put as much as $1000 in my pocket? I’m riled because that is not the government’s job. It’s not the government’s job to “fix” the economy. It’s not the government’s job to decide how much money a company can make before they’ve made too much. The government’s job is to make sure my country’s borders are safe against enemies, and not much else.
American individuals and corporations already have their income redistributed at near criminal levels. What the government needs to do is STOP SPENDING. Stop doling out entitlements to those who are unwilling to earn their keep. It’s my job to feed and house myself and my family, not the government’s.
There is no greater example in this country of fraud, waste and abuse than the government. Obama would be better of offering a plan to clean up that mess. If whoever our next president ends up being would simply cut the waste from government, the idea of more tax, windfall or otherwise, would be moot.
But Obama won’t do that. He actually wants a nanny state. What scares me is that enough Americans will buy his hype, and that’s all it is, to put him in office. How happy are they going to be when he and his congress start taxing not just Big Oil, but their family’s windfall?