[Peace-discuss] Fw: Reuters: Obama Backs Off Windfall Profits Tax Promise

[unionyes]

----- Original Message ----- 
From: "David Sirota" <ds at davidsirota.com>
To: <unionyes at ameritech.net>
Sent: Wednesday, December 03, 2008 12:47 PM
Subject: Reuters: Obama Backs Off Windfall Profits Tax Promise


> Mandate Watch: Obama Backs Off Promise to Pass Windfall Profits Tax on
> Big Oil
>
> By David Sirota
> Campaign for America's Future, 12/3/08
>
> Good news and bad news in the last day. The good news: Barack Obama
> has appointed a NAFTA critic, Rep. Xavier Becerra (D-CA), as the next
> U.S. Trade Representative. The bad news is this just off the Reuters
> wire:
>
> CHICAGO/WASHINGTON (Reuters) - President-elect Barack Obama is not
> planning to implement a windfall profit tax on oil companies because
> prices have dropped below $80 a barrel, an aide said on Tuesday...
>
> Obama, who signaled early in his campaign for the White House that he
> would take an active approach to oil markets as president, had planned
> to use the revenue from a windfall profits tax to fund a tax rebate
> for low- and middle-income families struggling with high energy
> prices.
>
> Between this move and the move to wait to repeal the Bush tax cuts
> for the wealthy, it seems like the Obama team is buying into the
> right-wing frame that raising any taxes - even those on the richest
> citizens and wealthiest corporations - is bad for the economy.
>
> To read the full post, go to:
>
> http://www.ourfuture.org/blog-entry/2008124903/mandate-watch-obama-backs-promise-pass-windfall-profits-tax-big-oil
>
>
>
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