I know they pledged not to endorse in this year’s Presidential race. We’re starting to see why.
Start with Democrat Barack Obama’s signature proposal, a $1,000 per-family rebate financed by a tax on oil company profits.
As satisfying as such financial vengeance might be, experience proves that windfall profits taxes don’t work and have magnificently disruptive effects on the marketplace.
Worse, Obama’s new proposal – the very definition of pandering – puts him in the position of calling for a gigantic tax on an industry for which he voted huge tax breaks in 2005. Sen. John McCain, the GOP standard-bearer, voted against them. (Virginian-Pilot)
We’re starting to see that when the gloss and shine of “yes we can” and “hope and change” become defined by proposals and policies, Obama’s a flop.
