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May 29, 2008
Maxine Waters Calls for Communism
How far removed is America from banana republics like Venezuela, where even with massive oil revenues, there's no food on the shelves thanks to the economy being run by socialist goons? Maybe only one election.
We already have people in Congress who would nationalize oil companies, Hugo Chavez style. From the NY Times:
Representative Maxine Waters, Democrat of California, seized on the record $40.6 billion profit of Exxon Mobil in 2007. She pounded on the company's senior vice president, J. Stephen Simon, demanding to know if gas prices would be lower if the company earned a few billion dollars less.
At another point, Ms. Waters brazenly suggested that perhaps the American oil industry should be nationalized, acknowledging that it was an "extreme step" but one that might be necessary if outsize profits and exorbitant gasoline prices continued.
Crossing Wall Street has one small correction:
Last year, ExxonMobil didn't earn $40 billion, it earned $70 billion. Guess where that missing $30 billion went? I'll give you a hint: Rep. Waters' salary.
Nationalizing the oil industry would quickly result in rationing of gasoline — a wonderful development for power-mad liberal bureaucrats, who could then control who has mobility who doesn't. With an overwhelmingly Democrat Congress and Obama in the White House, this step would soon be characterized as inevitable rather than extreme. Other industries would inevitably follow.
Here's video of Comrade Waters in action:
People like her could be in charge soon.
The USA is the product of thousands of years of political development. But it might take only a few years to destroy it.
On a tip from General Jack D. Ripper.
Update:
Actually, the $30 billion was only income taxes. ExxonMobil also paid over $30 billion in "sales-based taxes" and over $40 billion in "other taxes and duties" (see page 16 here). The total take is $102.5 billion for government thugs, leaving $40.6 for the shareholders of the company that actually provides us with the oil. But this cut isn't fat enough for Comrade Waters et al. Why leave any of the pie for the people who baked it?
On a tip from Bryan J.
Posted by Van Helsing at May 29, 2008 7:59 AM
Comments
I'll repeat what I said before:
THE CONGRESSIONAL GUIDE OF HOW TO DECREASE THE PRICE OF GAS AT THE PUMPS
- Complain about the price.
- Blame the oil companies for "record profits" (nevermind the reason is due to huge financial volume, not a less than 10% profit margin.
- Tax the oil companies more.
- Blame the oil companies for further rising of prices.
- Tax the oil companies more.
- Stop the oil companies from fleeing the country due to unreasonable taxes.
- Seize the oil companies.
- Keep oil prices high with the state-owned oil companies.
- Find someone else to demonize because the price of gas at the pump is so high.
I see now, congress may jump to step #7 before the oil companies consider step #6.
Posted by: Lyle at May 29, 2008 8:40 AM
Sigh, too bad it's true. The Democrats weren't just being sociable with Hugo, they were looking to him for guidance. They expect Comrade Obama to lead them to the promised tyranny.
And so how do the oil companies respond, same as they did with Jimmuh 'the dumb' Cater I, put a cap on that well. Worth more in the ground than it is on the current market. It was only after Reagan in 1981 removed Carter's price controls on oil did today's economic expansion begin.
Posted by: bill-tb at May 29, 2008 8:51 AM
Stoopid Monkey..........
http://ecx.images-amazon.com/images/I/4184fJv2R8L._AA280_.jpg
Posted by: Anonymous at May 29, 2008 10:07 AM
Well with a majority of American voters getting ready to jump off the cliff in NOV and elect a marxist for President and a filibuster proof majority of socialists it will happen thing is you won't know about because they are planning on bringing back the fairness doctrine on steriods. Say goodnight America in a few years we will look exactly like Eurabia.
Posted by: Oldcrow at May 29, 2008 11:24 AM
Maxine Waters is the reason for the invention of insecticide.
Posted by: Mockinbird at May 29, 2008 11:45 AM
