Debate: ; Was Obama Wise to Scuttle Windfall Profits Tax Proposal?
Sunday Gazette-Mail › December 29, 2008
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Summary
WASHINGTON - President-elect Barack Obama would do well to resist the corporate-friendly urgings of the advisers who persuaded him to scrap his proposed windfall profits tax on Big Oil.
The fact that oil prices have fallen well below $40 a barrel from a high of $147 a barrel in mid-2008 is not a valid reason for scrapping a plan to retrieve a small part of the obscene profits the oil industry raked in when prices were skyrocketing.See the full content of this document
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Debate: ; Was Obama Wise to Scuttle Windfall Profits Tax Proposal?
Then and now a windfall profits tax would have provided a wonderful and fast-acting economic stimulus for the people who need it the most. Indeed, Obama originally propo...
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