Obama Targets Oil Company Profits
May 2nd, 2008 | By Contrarian Profits | Category: Featured, Financial NewsOil company profits are under threat if Barack Obama makes it to office, reports Bloomberg. An aide to Obama described the oil companies profits as “remarkable.”
The plan would target profit from the biggest oil companies by taxing each barrel of oil costing more than $80, according to a fact sheet on the proposal. The tax would help pay for a $1,000 tax cut for working families, an expansion of the earned- income tax credit and assistance for people who can’t afford their energy bills.