Windfall Profit Tax Bill Fails
Are these idiots untrainable?
June 10 (Bloomberg) — Senate Republicans thwarted Democratic-supported legislation that would increase windfall- profit taxes on oil companies such as Exxon Mobil Corp. as Democrats set their sights on tighter energy trading scrutiny.
Democrats fell nine votes shy today of 60 needed to proceed to debate. The White House Office of Management and Budget today threatened a veto of the measure.
The proposal, announced last month, would have imposed a windfall profit tax of $10 billion to $12 billion this year on oil companies, according to Senate Democrats. It also included new margin requirements on oil-futures trades, and aimed to outlaw price gouging.
Energy-related legislation is “going to be an issue we hear about the rest of this spring, all summer and into next fall,” said New York Democratic Senator Charles Schumer, a main advocate of the windfall profit tax.
What’s interesting is that the head socialist himself, Harry Reid voted against it.
What’s going on here?
Or did he join the anointed Prince of Ass-hats and push the wrong button?
Even the LA Times noticed that Barry has used this excuse several times.
On March 19, 1997, he announced he had fumbled an election-reform vote the day before, on a measure that passed 51 to 6: “I was trying to vote yes on this, and I was recorded as a no,” he said. The next day, he acknowledged voting “present” on a key telecommunications vote.
He stood on March 11, 1999, to take back his vote against legislation to end good-behavior credits for certain felons in county jails. “I pressed the wrong button on that,” he said.
Obama was the lone dissenter on Feb. 24, 2000, against 57 yeas for a ban on human cloning. “I pressed the wrong button by accident,” he said.
Category: Politics
Rather then going after oil company’s who have something like an 8.3% profit, they should be going after the drug companies like Amgen at around 16% profit margin. Oooops….forgot, Speaker Pelosi and family own a bunch of that stock.
“Pressed the wrong button” – yeah, we need him around the “football”.
It’s an election year folks…this is hot ticket item. Trivial stuff like who voted for or against is already being ignored. Damn Republicans want our gas prices to be higher to feed their constituency.
In truth I have no idea why he voted against it, wrong button makes as much sense as my paranoid take. Although…
YEAH!!!
According to Michelle Malkin Reid voted against it so he can recall it sometime in the future.I would imagine if the Dims get total control this will fly through, but of course this is just a smoke screen for what our govt taxes us and what do they do to deserve it?