I received an email from my friend this morning – an aspiring entrepreneur – regarding his concerns about Barack Obama’s economic policy – which I’ve been finding are rather widespread:
So I want to start by saying I am an Obama supporter because I really feel where he might not be the most experienced in a lot of areas he will provide a much needed catalyst to change the way America thinks and behaves with respect to a lot of important issues effecting humanity on a whole. Where his economics scare me to death, and I do hope he gets better advisers than his current ones on the economy, I still feel he is the right choice for America at this point in time.
That said, I read this article today after seeing a brief snippet on CNBC this morning regarding the same issue.
I simply do not know what to say. Yes oil companies are evil. There is no question there. But just as the Patriot Act symbolized the opening of a door into the trampling of basic freedoms that make America what it is, I can not see this proposal as anything but the same. You simply can not limit the amount of profit a company can make and still call this America. Tax the profits to hell. Let the government take it’s cut, but you simply can’t open the door for government to say how much a company can or can not make. If we limit what oil companies make what is next? Pharma? Factories?
I like Barack but this is uncalled for and simply unacceptable. I will refrain from questioning if he is, in fact, an American idealist and just assume this is the result of a temporary lapse in judgment.
Now mind you this is a separate issue than personal taxes which needs its own discussion. This is about business, this is about capitalism, and this is about what makes America great.
Just my two cents (which today are worth even less Euros than yesterday)