Double Down on a Failed Policy

Obama also continued to play the part of a fiscally responsible president, demanding that Congress eliminate "subsidies" for oil companies. He claimed that the tax credits available to oil companies, assiduously avoiding mention of similar credits available to other companies, were double dipping on the American taxpayer, once for high prices and again for tax credits. In a Rose Garden press conference Thursday, Obama said, "Instead of taxpayer giveaways to an industry that's never been more profitable, we should be using that money to double down on investments in clean energy technologies that have never been more promising."

Memo to Obama: If loopholes are closed and credits eliminated, the corporate tax rate should be lowered to make it competitive. Above all, stop scapegoating companies that pay more in taxes than they earn in profits. Leave it to him, though, to "double down" on failed policy.

www.patriotpost.us