Reasons to agree:
- "Obama Could Skip the Class Warfare and Let the Oil and Gas Industry Create Jobs." Fox News. October 3rd, 2011: "President Obama conjured up his favorite boogeyman recently: the oil and gas industry. He reached for it when he released his job creation and deficit reduction package. Despite the fact that the oil and gas industry pays over $86 million a day in income taxes, royalties, bonuses and rents to the federal government, the president claimed that U.S. energy producers have not paid 'their fair share.' The president is proposing an additional $41 billion in new taxes on energy producers. This will result in higher energy prices, more oil imports, and in the end, few jobs in America. No wonder why the economy continues to be mired in an economic funk. President Obama is trying to exploit the misperception that the energy industry earns undo profits, when in fact it earned a net income of just 6 cents on the dollar. That compares unfavorably to the 8.6 cents for all U.S. manufacturing, according to third quarter 2010 data from API. But the president expects his class warfare argument to resonate beyond his core base of voters, he may be disappointed. Energy production reinvestments by oil and gas companies provided the United States with a $470 billion stimulus in spending, wages, and dividends in 2010, making it one of the few bright spots in the current economy. And it's ordinary middle-class American investors - millions of them, in fact - who own most oil company stock through mutual funds, pension funds, and retirement accounts. Ironically, the fine print of the President's proposal is riddled with job-killing shenanigans through the tax code. A study by Louisiana State University finance professor Joseph Mason concludes that just part of the president's plan would result in 155,000 job losses at the cost of $68 billion in lost wages. Obama's proposal is bad news to long-suffering American families at a time when the national unemployment remains fixed above 9 percent. Another irony is that the president's proposal would actually exacerbate the budget deficit. By increasing federal tax increase by $5 billion per year on the oil and gas industry, this would lead to lower domestic energy production as companies would produce less in the U.S. because of higher cost and instead import more oil. Instead of leading to higher government revenue, this scheme would result in a $128 billion loss for in government revenues, according to a study by energy research and consulting firm Wood Mackenzie."
- Anti black racism
- Confirmation bias (you decide that you don't like Obama, and so this becomes the prism that you see him. People always root for the home team, because over time they start to show interest, and then each new story tells them they were correct. When the other team acts badly, you get mad. When your team acts badly, you feel justified. You continue to identify with Obama, because you once did).
- Your a Republican. He is on the other team. He is the enemy.
- Pro black racial preference
- Your a Democrat. He is on the same team, against the enemy
# of reasons to agree: 1
# of reasons to disagree: -0
# of reasons to agree with reasons to agree: 0
# of reasons to agree with reasons to disagree: -0
Total Idea Score: 1
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