Kick 'em while they're down! That's what Obama and the Dems are doing to Americans. Their ideas beggar belief! If Dems allow for double taxing the oil and gas industry by letting foreign tax credits expire ONLY in their industry, not only will the companies justifiably move their headquarters out of the U.S., but hundreds of thousands of more jobs will be lost, AND, you and I will see our energy supply dwindle while prices skyrocket. I'm not going to be polite here: these Dems are idiots or tyrants!! Either way, the end result for America is the same. Tragedy.
NTU: Dems planning to hike taxes on oil, energy companies
By Ed Morrissey
HotAir.com
September 2, 2010
During the presidential campaign, Barack Obama repeatedly vowed to force American companies to pay taxes on overseas earnings, rather than take a tax credit for taxes paid by its international operations. Eventually the White House backed down from that plan after heavy criticism from business leaders made it clear that multinationals would simply move their headquarters elsewhere, and smaller firms would simply be left uncompetitive in the global market. A similar plan has returned, the National Taxpayers Union warns, only this time it’s just targeted at the oil and energy industries — along with another tax change that would strip American companies of a manufacturing credit that keeps jobs in the US:
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