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Obama solution to High Gas Price, Raise taxes to Oil Companies



Obama understand we are reliving 2008 and the high gas prices. What does he do? Obama raise the tax on big bad oil companies. This will have no effect to the price of gas. It only raises tax revenues. These oil companies will only pass on the cost to us at the gas pumps. Therefore, we are getting shafted with the bill. Whenever the government taxes on a company, those taxes are added to the price of the product they sell. Corporations don't pay taxes. That is the honest truth. The logical truth is to DRILL BABY DRILL. That will end the speculation in the oil market. Bush did that in 2008.

(Yahoo) WASHINGTON (AP) -- Amid rising gasoline prices at the pump, President Barack Obama urged congressional leaders Tuesday to take steps to repeal oil industry tax breaks, reiterating a call he made in his 2012 budget proposal earlier this year. The White House conceded his plan would do nothing in the short term to lower gas prices.
Rising gas prices have become a political weight for the White House, with polls showing that as the cost rises at the pump, the president's approval ratings have slipped. Obama has increasingly sought to display action on oil, even as he acknowledges that there is no immediate answer to stem costs.

"High oil and gasoline prices are weighing on the minds and pocketbooks of every American family," Obama wrote. But he also added that "there is no silver bullet to address rising gas prices in the short term."

Obama's proposal, spelled out in his past two budget plans, would eliminate a number of tax breaks for oil companies that would generate an estimated $4 billion a year in additional revenue.

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