Okay, These Details Make Obama’s Energy Plans Even Worse

Okay, These Details Make Obama’s Energy Plans Even Worse November 3, 2008

Posted by taoist in Capitalism and Economics, Democrats, Domestic Policy, Energy, Obama, Politics, Taxes.
trackback

I linked yesterday to Obama’s stated plan to bankrupt the coal industry. LGF, however, found a link to Obama explaining his over-all energy plans: raise energy prices to send consumers a “signal” that they have to use less. Use government to slow down industry.

Note his explicit acknowledgement that corporate taxes get passed on to the consumer. Remember, he also wants to end the Bush tax cuts, and raise corporate taxes in general – which are already the highest in the world, explaining why companies are fleeing our shores in droves. When you combine that with his plan to make social security tax incomes higher than $102,000, you end up with significant tax increases for people earning under $250,000 (or whatever the latest, ever changing number he uses is). Income tax isn’t everything, and Obama wants to raise a lot of them.

I would point out that Obama has also previously, explicitly mentioned that he wants to raise income taxes, corporate taxes, and capital gains taxes despite knowing that doing so would hurt the economy. He wants to do so to make things “fair”.

America is in serious danger of electing a president who’s stated goals will, with his own knowledge, kill the economy, just to implement social goals.