He then used the occasion to reiterate his plan for taxing the excessive, or “windfall” profits of oil companies, and to redistribute that revenue to “deserving families” in the form of “rebate checks.”
But since when is it presidential to single-out an American company by name, and to publicly trash it? And what exactly is Obama (or anybody else) talking about, when he says the name “Exxon Mobil?”
Well, the Exxon-Mobil corporation is a privately held, publicly traded, legal corporation, governed by a board of directors, and headquartered in suburban Dallas. According to market analysis from the Wall Street Journal, the corporation employees over 80,000 people, and is the world’s largest publicly traded (not government owned) oil and gas company. It markets products in nearly every country on the planet, and provides energy that is the underpinning of both developed and emerging economies around the world (including our own).
This is what is so conveniently dismissed as “big oil” by candidate Obama. Forget the fact that the company employs more than the population of a small town. Never mind that those “windfall profits” that Obama gripes about pay dividends to stockholders - - stockholders who are “working Americans,” and retirees, and people of all ethnic and socioeconomic backgrounds. And ignore the fact that “big oil’s” profits are helping to produce the future funding for union member’s retirement plans and pension funds. No, no, forget all that. Senator and almost-President Barack Obama is outraged because the Exxon-Mobil corporation set a new record for quarterly profits, he knows he can manage that money better than anyone else, and he’s determined that these dastardly corporate profits are, indeed, the greatest threat to the United States.
So while President Bush speaks out against the tyrrany of communism, and Senator McCain speaks out against the stranglehold of government that prevents Americans from using American energy resources, Senator Obama wages his own war on corporate profits. And herein lies the greatest insult of campaign 2008 - - Mr. Obama assumes that Americans don’t know any better.
Austin Hill is an Author, Consultant, and Host of "Austin Hill's Big World of Small Business," a syndicated talk show about small business ownership and entrepreneurship. He is Co-Author of the new release "The Virtues Of Capitalism: A Moral Case For Free Markets." , Author of "White House Confidential: The Little Book Of Weird Presidential History," and a frequent guest host for Washington, DC's 105.9 WMAL Talk Radio.