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OIl Windfall Tax or Pandering Tax?

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Good Morning America, your King of Simple News is on the air.

U.S. NEWS: As I watched our Congress argue over whether to take the oil companies money away from them for being too profitable, I can’t help but think about the wealthiest members of Congress. John “I married it” McCain, Hillary “windfall” Clinton, John “Heinz Ketchup” Kerry, John “I sued ‘em for it” Edwards, Barrack “I earned it” Obama, and the list goes on.

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If these folks are all so interested in windfall profits, why not set a top figure that American families can make and take the rest away from them? At least those serving in Congress. Let’s say that $100,000 per year is plenty for anyone to live on. That means that Hillary and Bill should return $108,300,000 in windfall profits tax for the past 7 years alone.

John Kerry should convince his wife to return the majority of her $500,000,000 estimated fortune as windfall profits. Cindy McCain should transfer her millions earned in her beer distributorship to the government coffers. Barrack and Michele Obama earned more than $4 million in 2007 and purchased a $1.6 million dollar home, why not give it all back?

Of course, suggesting the above remedy is ridiculous; members of Congress are all hard working diligent honest public servants who deserve every dime they earn and more. It’s the crooks in those oil companies that we’re after. Congress provides us with brilliant leadership and massive taxation, how can we compare that to the scoundrels that have provided us with what has up to now been, the cheapest and most dependable energy on earth?

If we were to compare the vast fortunes held individually by members of Congress to those held by literally millions of Americans who own oil stocks, the oil companies would pale in a per-capita comparison.

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I have researched and written the real truth more times than I can recall in my book and subsequent articles…we are running out of oil and dipping into reserves. Some 75% of that oil is not ours, but instead belongs to foreign nations. We have known that this day would come for some 50 years and who told us there would be an energy shortage? Oil company geophysicists. And now it has suddenly become the oil companies fault?

The pandering on both sides of the aisle over a diminishing resource that many in this very Congress have ignored for years…is sickening.

Wake up Middle America, go to the polls and throw ‘em out; lock, stock and barrel.

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www.kingofsimple.com
Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)
 

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