Avoid Raising Taxes Amid Shutdown Negotiations
It’s hard to sort out amid all the rumors, but the executive vice president of the National Taxpayers Union, Pete Sepp, makes an excellent point in this op-ed for Roll Call:
Careless or ill-informed policy would strip (tax credits against taxes paid in foreign countries and for U.S.-based manufacturing) away from oil and gas companies and leave them in place for everybody else. Such an approach isn’t about closing loopholes; it’s about creating a punitive tax increase that would inevitably be passed on to consumers. It would also lead to employment cutbacks in an industry that supports almost 10 million good-paying American jobs and created 148,000 new jobs in 2011 alone.
All too often we’ve seen this administration take the opportunity to reward friends and allies and punish their opponents with no regard for the impact those policy decisions have on the American people. In this particular instance, there’s concern that oil and gas interests will be unfairly punished because they don’t agree with President Obama’s lack of direction when it comes to setting an energy policy for our country. No matter if it’s oil and gas, health insurance, medical devices or some other industry – I think Americans are tired of their government picking winners in losers, particularly in the midst of negotiations about putting people back to work and dealing with our long term debt.
President Obama does not hesitate to remind us that he’s been saddled with one of the most difficult economic downturns in our nation’s history. What I don’t understand is why he seems so determined to keep us there instead of pursing economic policies that would actually help us out.