Obama Seeks to Enact Carter-Style Taxes

Windfall profit taxes on oil companies have been tried before and they failed miserably. What makes anyone think they’ll work now? Hope? Are we just supposed to hope that Carter’s failed policies will now work just because Barack Obama is the one enacting them? Welcome to the era of Jimmy Carter nearly 30 years later.

Video Script: VO: As American families face higher prices at the pump, Barack Obama opposes immediate relief and lower taxes on fuel.

VO: What Obama has proposed are new tax increases that reduce oil production, increase dependence on foreign oil and hurt consumers.

VIDEO: Obama Video: “I think it is appropriate for us to impose a windfall profit tax on our oil companies.”

VO: Obama’s proposals have been tried before…

VIDEO: Carter Video: “Congress must enact the windfall profits tax without delay.”

VO: Sound familiar?

VO: The last time this was tried, domestic oil production dropped by 5% and US reliance on foreign oil increased by 10%.

Text (displayed during VO): “The last time Congress imposed a form of the windfall tax was the final gloomy days of Jimmy Carter, and the result was: a substantial reduction in domestic oil production (about 5%), thus raising the price of gas at the pump; and a 10% increase in U.S. reliance on foreign oil.” (WSJ, 11/30/05)

VO: Is this the kind of change America needs?

VO: Barack Obama… Out of touch…. And not ready to be President.

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