Word: taxed
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...national referendum. With the G.O.P.'s popularity gauge already down a couple of quarts, Rove was told that if the White House didn't do something, anything, about energy costs, Congress could put the President in the position of using his first veto to kill a windfall-profits tax on oil-company earnings. Says a G.O.P. strategist: "People just want the oil companies whacked...
...industry they normally treat like a good neighbor--or an ATM. In a particularly delicious bit of populist sophistry, the party led by two oil guys that is pro-business, antitax and antigovernment meddling was talking loudly about greedy petro-executives, IRS audits of oil-company tax returns and withdrawing $2 billion in industry-specific tax breaks over 10 years. That's about a month's worth of profits for ExxonMobil, which announced quarterly earnings of $8.4 billion. "Listen, we've got people like this that are working for a living, who are paying higher prices for their gasoline...
...President visited the service station to discuss a number of largely ineffectual remedies for pulling down prices, some of which Rove had previously discussed in the staff chiefs' meeting. Bush suspended additional deliveries to the Strategic Petroleum Reserve to divert that crude to the market. He called for more tax incentives for hybrid cars, fewer environmental hurdles for refinery builders, drilling wells in the Arctic and congressional authority to raise mileage requirements on cars. Senate majority leader Bill Frist, who earlier in the week had advised voters to drive slower and get a tune-up, was fronting a Republican proposal...
...These gas prices represent the failure of my opponent, Steve Chabot, and George Bush to fight for the middle class. The Republicans and Steve Chabot are giving [Big Oil] $14 billion in your money." The Democratic handout proposal was even more generous. The Dems want to rescind the gasoline tax for a while--which would stimulate demand...
...President Bush has promised to crack down on rising gas prices, saying on Tuesday that he has asked for a waiver of clean air rules and stopped pumping up the emergency oil reserve to try to help push down the price. He also said a $2 billion tax break for the nation's oil companies, which have seen some of the highest profit margins on record, should be repealed. It was a first step that many rejected as little more than election year politics, coming at the same time that such lawmakers as Illinois Democratic Senator Barack Obama are calling...