Windfall Profits Tax

One sector of American industry is having a good year and that must have Barack Hussein Obama salivating. America's oil industry is holding its own while many other businesses are crashing. And when you have an overt socialist in the White House, causing so much economic dislocation, finding a profitable corporation to stick it to is like a pig finding a truffle. This is Obama's proverbial opportunity to get even with a successful going concern and my bet is that he will do it. With Exxon profits expected to rise sixty percent (60%), Obama and/or the Democrats in Congress will soon call for a windfall profits tax to be imposed on US oil companies. Obama will not even be the first so-called leader to start the windfall profits tax ball rolling, his good friend Hugo Chavez, you know the new Fidel who handed Obama a book accusing the US of criminal colonialism and imperialism in Latin America and received a hearty Obama hug in return a couple of years back at Obama's first Summit of the Americas as President, is going to force a windfall profit tax on the non-government owned oil companies in Venezuela, the formerly prosperous country that Chavez has ruined through his misrule. So at least from Obama's perspective, when he foists a new tax on some of the few American corporations still able to pay shareholders a dividend, he will be in good company with Latin America's worst current despot, Hugo Chavez.