Wednesday, June 11, 2008

Barack Obama: Modern Day Robin Hood, Or Snake-Oil Salesman?
Or just plain ol' bullshitter?

By happenstance, I caught a wee bit of the Neil Boortz radio show today. I don't really listen to him all that much, but I can only stand Don't Fear The Reaper only so much. NO MORE COWBELL!!

Anyhow, he was stating some facts and figures about BO and his call for, as The Empty Suit himself stated;
"I'll make oil companies like Exxon pay a tax on their windfall profits, and we'll use the money to help families pay for their skyrocketing energy costs and other bills."Ooooohhhh... sounds good to me! It's time those nasties over at Exxon-Mobil paid their fair share, by gigger! So I thought I'd swing over to the Boortz site and check it out.

Boortz had some dead-on points, such as: even though the Democrats try to paint this picture of evil corporate fat-cats who are raking in all the bucks over gas profits, did you know that throughout the oil and natural gas industries only about 1.5% of the stock is owned by company executives? And a few other things were pointed out, such as:
Almost 43 percent of oil and natural gas company shares are owned by mutual funds and asset management companies that have mutual funds. Mutual funds manage accounts for 55 million U.S. households with a median income of $68,700.

Twenty seven percent of shares are owned by other institutional investors like pension funds. In 2004, more than 2,600 pension funds run by federal, state and local governments held almost $64 billion in shares of U.S. oil and natural gas companies. These funds represent the major retirement security for the nation's current and retired soldiers, teachers, and police and fire personnel at every level of government.

Fourteen percent of shares are held in IRA and other personal retirement accounts. Forty five million U.S. households have IRA and other personal retirement accounts, with an average account value of just over $22,000.
Oh, and in case you were wondering where all these really cool stats come from... no, they're not from Bush or Cheney or Exxon-Mobil. They're from a certain Robert J. Shapiro. The former Undersecretary of Commerce for Economic Affairs os a certain President Bill Clinton. Here's the study itself.

So if "windfall profits" are taxed, guess who 98.5% of those who are getting nailed will be? Share this with your idiot liberal friends. Imagine how fun it will be to watch their heads explode. Too bad stupidity isn't painful

2 Comments:

Blogger Joe of St. Thérèse said...

lol, but it is painful, lol.

3:41 PM  
Blogger Joe of St. Thérèse said...

for us anyway having to put up with the bs, lol

3:42 PM  

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