Dumbest. Plan. Ever.

Senator Obama has a plan to raise oil prices 10% or so.

Democratic presidential candidate Barack Obama's proposal for a windfall profits tax on oil companies could cost $15 billion a year at last year's profit levels, a campaign adviser said.

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.

``The profits right now are so remarkable that one could trim them 10 percent or so, which would turn out to be somewhere in the $15 billion range,'' said Jason Grumet, an adviser to the Obama campaign.

I don't say this as an oil company shill, but c'mon. Corporations don't pay taxes, they collect them.

... and it's going to be passed on to you.

Dem2008 Primary Posted by AlexC at May 1, 2008 9:12 PM