Saturday, April 30, 2011

Gas Prices & Oil Profits: More Wealth Redistribution in the Wrong Direction

Image from AOL/HuffPo
Boy, remember when Barack Obama said something about spreading the wealth around, while on the 2008 campaign trail? It got conservatives all riled up, didn't it? Why, that's communism! It's un-American! So, why have all of the wealth redistribution schemes that take from ordinary Americans, and give it to the rich okay? Why do they keep taking pensions, and union benefits, and talk about killing Medicare and privatizing Social Security, while simultaneously giving tax breaks and benefits to big corporations and to the rich? And why do oil companies get to keep raking in multi-billions in profits (not just gross, but net) while they are jacking up the price for us peons? Clearly, it is not necessary for them to raise it as much as they have, and remain profitable. If that were true, profits would have stayed in the lower billions they were already making. I know it's a fine line to walk in America, talking about windfall taxes, or price caps. But this is--even a rock-ribbed Republican must admit--outrageous.

[Excerpt]

Your Pain, Their Gain: How High Gas Prices Impoverish The Many While Enriching The Few



The next time you're gritting your teeth as you fill your tank with $4 gas, here's something to consider: Your pain is their gain. . .
 
Read more at: AOL/Huffington Post

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