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 4/10 Good --- www.clusterstock.com http://feeds.feedburner.com/clusterstock
Wednesday, August 06, 2008 --- 14 days ago http://feeds.feedburner.com/~r/clusterstock/~3/357563113/obama-economic-advisor-
 Obama's economic plan hits one pander pitch out of the park--by socking oil companies with a "windfall" tax. Observers have justifiably ridiculed this, so the campaign is now trotting charming economics advisor Austan Goolsbee to try to defend it. He can't, of course. But he manages to keep right on smiling while he gets his head handed to him. This morning, on CNBC's "Squawk Box," Joe Kernen did the honors. But first, the key points: Obama believes the country needs another stimulus boost Obama plans to tax the oil company's "windfall" profits in order to give $1,000 tax rebates to families in need Goolsbee (and presumably Obama) rationalize the one-time, industry specific tax because oil companies have "gotten tens, even hundreds of billions of dollars of subsidies over the last 20, 30 years. Joe Kernen: HERE NOW OUR OLD FRIEND AUSTAN GOOLSBEE WHO IS OBAMA'S ECONOMIC ADVISER. GOOD MORNING, AUSTAN... YOU'RE GOING TO TAKE WINDFALL PROMPT PROFITS FROM THE OIL COMPANIES AND GIVE OUT $1,000 TO EACH PERSON ? IS THIS YOUR IDEA? Goolsbee: HEY, LOOK, I -- IF YOU LOOK AT THE OIL INDUSTRY, THESE GUYS ARE NOT JUST A RANDOM INDUSTRY THAT WAS ON LEVEL FOOTING WITH EVERYBODY ELSE. THESE GUYS HAVE GOTTEN TENS, EVEN HUNDREDS OF BILLIONS OF DOLLARS OF SUBSIDIES OVER THE LAST 20, 30 YEARS. SO IF YOU'RE GOING TO PUT A WINDFALL PROFIT TAX ON GUYS THAT HAVE BEEN GETTING FREE GIFTS FOR DECADES, I DON'T SEE ANY PROBLEM WITH THAT. Kernen: FOR DECADES, T ... |
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