mises
Joined: 05 Nov 2007
Location: retired
|
 Posted: Fri Aug 01, 2008 12:53 pm Post subject: Obama's 'emergency' economic plan |
 |
|
http://www.politico.com/news/stories/0808/12237.html
| Quote: |
Sen. Barack Obama (D-Ill.) on Friday announced an �Emergency Economic Plan� that would give families a stimulus check of $1,000 each, funded in part by what his presidential campaign calls �windfall profits from Big Oil.�
The first part of Obama�s plan is an emergency energy rebate ($500 to individual workers, $1,000 to families) as soon as this fall.
�This rebate will be enough to offset the increased cost of gas for a working family over the next four months,� Obama said. �Or, if you live in a state where it gets very cold in the winter, it will be enough to cover the entire increase in your heating bills. Or you could use the rebate for any of your other bills or even to pay down debt |
Exxon, for example, paid 32.4 billion in taxes last year and had a profit of 11.7 billion. 3$ in taxes for every 1$ in profit.
| Quote: |
Separately, Obama�s plan includes a $50 billion stimulus package that his campaign claims would save more than 1 million jobs.
Half of the money would go to state governments, which are facing big budget shortfalls, and half would be used for national infrastructure, including replenishing the Highway Trust Fund, rebuilding roads and bridges, and repairing schools. |
That's $50,000 per job to save 1 million jobs.
But there is some promise. Both Buffet and Volker have been advising Obama on economic matters (and both have endorsed him, though both are Dems so no surprise).
| Quote: |
Sen. Obama, the presumptive Democratic nominee, convened a panel of top economic advisers and business leaders in Washington. The group included former Federal Reserve Chairman Paul Volker, billionaire investor Warren Buffet, former Treasury Secretary Robert Rubin and Google Chairman Eric Schmidt. |
http://online.wsj.com/article/SB121726863976990449.html?mod=googlenews_wsj |
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
