Saturday, October 18, 2008

Obama: Blame Bush for Obscene Profits

I just heard a clip of Obama decrying the record profits of the oil companies under Bush.

As if Bush had one iota of influence over the world's oil markets!

Only a socialist liberal can find fault with publicly held companies realizing record profits for the benefit of their shareholders.

Here's a couple of quick facts to consider: From 1980 to 2005 the oil companies paid $2.2 Trillion dollars in taxes.

Those taxes amounted to three times the profits for the same period of time.

So, when you hear Obama complaining about the oil companies' profits remember that the government has taken $3 from them for every $1 they distributed to their shareholders.

So who is it that's really raking in the "obscene" profits?

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