John McCain is refusing to rule out going along with proposals by Senate Democrats, and his opponent in the General Election in November, to impose additional taxes on so-called “windfall profits” made by oil companies:
Although the GOP presidential candidate didn’t address the question of raising taxes on oil companies, he said the companies “absolutely” should return some profits to consumers. “And they should be embarking on research and development that will pay off in reducing our dependence on foreign oil,” he said.
“The point is, oil companies have got to be more participatory in alternate energy, in sharing their profits in a variety of ways, and there is very strong and justifiable emotion about their profits,” McCain said.
The issue of oil company profits came up this week in the Senate, where Republicans stopped the Democrats from imposing a tax on windfall profits and taking away billions of dollars in tax breaks in response to the $4-a-gallon price of gas.
In the past McCain has indicated he would consider such a tax proposal, saying he didn’t want to see companies making “obscene profits” that distort the market.
Tell me, Senator McCain, what, exactly, is an “obscene” profit, and what makes you qualified to determine when one is earned ?
I’m not sure what’s more exasperating. That this guy is the Republican nominee, or that there are Republicans who will actually defend this guy.
McCain said pretty much the same thing on The Today Show this morning:
Between this, his pandering on the gas tax holiday, and his evisceration of the First Amendment, I’m beginning to think that McCain may actually make a worse President than Barack Obama.
H/T: Jason Pye
June 11th, 2008 at 4:54 pm
So we have a clueless on economics Republican candidate vs a Socialist Democrat candidate. It’s still a choice. Sorta.
June 12th, 2008 at 6:53 am
McCain is also a Socialist.
July 13th, 2008 at 9:33 am
[...] McCain is all too willing to traffic in progressive rhetoric about “obscene profits,” Wall Street greed, calling the pharmaceutical companies that treat and cure disease [...]