Clinton Goes on Gas-Price Offensive, Aims at Obama
GRAHAM, N.C. — Hillary Rodham Clinton on Monday criticized Barack Obama for opposing the concept of suspending the gas tax during the peak summer driving months, a plan both she and Republican John McCain have endorsed.
The idea to suspend the 18.4 cent federal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day was first proposed by McCain, the likely Republican presidential nominee, as a way to ease the economic burden for consumers during the summer.
Obama does not support the “gas tax holiday” and has said the average motorist would not benefit significantly from such a suspension; by some estimates, the federal government would lose about $10 billion in revenue.
“My opponent, Senator Obama, opposes giving consumers a break,” Clinton said, campaigning in North Carolina. “I understand the American people need some relief.”
Clinton said she would make up the difference in revenue by imposing a “windfall profits tax” on oil companies.
“If we suspended it and made up the lost revenues, that’s the best of both worlds,” she said.
Clinton commented at a firehouse in Graham, where she was urging North Carolinians to take advantage of the state’s early voting, which opened more than a week ago ahead of the May 6 primary.
She and Obama have been pushing their supporters to go to the polls early here and Indiana, which also votes May 6. Obama is favored in North Carolina while the two are competing closely in Indiana.
Besides her push for early voting, Clinton was to spend part of the day raising money. She and daughter Chelsea were to appear at a closed-door fundraiser in Greensboro, with two more fundraisers scheduled later in Charlotte.
Obama also planned campaign appearances in the state, with events in Wilmington, Wilson and Chapel Hill.
While I am always for a smaller amount of my money going to the federal government, I am a little confused about the “windfall profits” penalty the Democrats keep harping on. While I do not have an exact number, from what I can tell the “big” bad oil companies run at under a 10% profit margin. Now granted I am Business Consultant helping companies run more efficient and not a Senator in Washington, so I may not really understand this topic so I ask them, what profit margin is too high for a company to make? I mean Is it 10%, 20%, 5%? Will you next go after other industries because they offer value to the citizens that are invested in the business? I mean I am very happy, as are a lot of other folks, when my mutual funds and 401K see a gain due to these evil profits therefore insuring I will not need the Feds when I retire. Or is that the real issues the Democrats are fearful of?
It strikes me as strange that Senators would even bring this idea up. There is no way that the full Congress would be able to pass such a holiday before Memorial Day. Also, all bills relating to taxes must originate in the House. This is jus a stunt to catch the voters attention. The real issue is that the U. S. Oil companies need to be able to go after domestic oil and increase refinery capacity.
Finally, we need to stop demonizing oil companies. They are doing all the work to get gasoline to market for only a 5-8 percent profit. Besides that there are other products in addition to gasoline that make up oil company sales and therefore profits. A windfall profit tax will just be passed on to consumers.
If something could really be done regarding the price of gas, why isn’t Bush doing it, he is still the president, isn’t he? so come one Hillary, McCain, what can either of you really accomplish?
Does Mrs. Clinton believe that we can remove the tax from the populace and place a windfall tax on oil companies successfully? Has she considered that oil companies will raise gas prices to make-up for the windfall tax? DUHH
If the Democrats were serious about gas price concerns, they would rethink Anwr. and get off their butts and start helping with solutions and stop being part of the problem.
Pretty smart on Hillary’s part. Of course she fails to mention that the windfall profits tax will generate higher prices from the oil companies and when the tax goes back into effect gas gas prices will be even higher.
it is time for obama to say bye bye
I cannot believe how many people are still putting their confidence in Hillary Clinton. She has proven not to be trustworthy. She has lied several times over somewhat important things just to make her look good. If we look back, we will see that she has not done anything in any of the states. She was only a first lady, not a president. She failed in several things she did attempt during her husbands presidency. Does noone remember the Whitewater problem that the Clintons had in Arkansas. Dishonesty there that continues through today. I prefer someone who does not lie and cover it by calling it a misspeak. A lie is a lie. Please get her out of the race. She is not presidential material.
That’s “real” change we can believe in…
Go Hillary…take on the oil and gas giants!!!!
We the people need your help in this time of economic crisis -
This is another reason that clarifies why Mr Obama is not electable. Even a Republican has some compassion.