i hate politicians. i've yet to see one who isn't polarizing, uninformed and self-congratulating. they're out of touch. here's proof: obama, if he had a useful and functioning brain, should realize that capital gains are mostly the province of middle-class americans, not just the wealthy. millions of middle-class americans in fact realize investment gains annually. in 2005, according to irs data, 47% of all tax returns reporting capital gains were from households with incomes below 50,000, and 79% came from households with incomes below 100,000.
furthermore, politicians such as clinton can cynically manipulate public opinion to enact disastrous policies. indeed, rather than be upset at exxon's profits, americans should be thrilled - and angry at a congress that doesn't seem to want to encourage the oil industry to make even more. our so-called free-market economy is built on profit. higher profits mean MORE jobs, HIGHER incomes, MORE investment in equipment and people, HIGHER standards of living. yes, profits are the engine for all of this - and that includes the profits of the oil companies.
if anyone is to blame for our current energy mess, congress is near the front of the line. at least 20 billion barrels of oil sit untapped in the alaskan moonscape and another 30 billion lie offshore. such sources could help satisfy u.s. demand for years to come. yet congress has put them out of reach. instead, congress scapegoats oil industry profits. stupid. idiots.