Barack Obama continues to retreat from various campaign pledges. Recently, one of his transition spokesman said that with oil prices below $50 a barrel, a windfall profits tax on oil company earnings (an additional tax on top of the corporate income tax) is a dead issue.
Well, if you really believe in such a tax, wouldn't it be good to have it in place in case oil prices rise in the future?
Or does Obama prefer to avoid a fight when there is no loot to be had in the near-term?
Or was it just campaign rhetoric to help get elected?
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