Resident Obama pretends that he knows what’s going on and that he has the solutions to just about everything. Being the economic expert that he is, he now wants to add a $10 per barrel tax to oil. Guess who is going to pay that tax? Hint: Not the oil companies.
With record low oil prices, politicians see an opportunity to add a tax. They never see an opportunity to remove a tax. As I’ve stated before, companies don’t pay taxes. Consumers do.
To support the case for an oil tax, the focus is on how much it will raise gasoline prices. Environmentalist contend that it will only be a slight increase and will help the environment. “?????” Gasoline prices are not the only thing affected by oil prices. And, they are the least important. Just about everything you need is in one way or another impacted by oil prices.
In my humble opinion this is just another attempt to convince the minions that government knows best and stick it to them with another tax that remain regardless of oil prices. And, as usual, there will be no benefit from the tax.
A few weeks ago I read that everything happens for a reason.
Sometimes the reason is that someone acts stupidly and makes bad decisions.
PMO
©2016
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