Skip to comments.Barack Obama urges end to tax subsidies for Big Oil
Posted on 04/30/2011 3:00:26 PM PDT by ColdOne
When oil companies are making huge profits and youre struggling at the pump, and were scouring the federal budget for spending we can afford to do without, these tax giveaways arent right, Obama said Saturday. They arent
(Excerpt) Read more at politico.com ...
You see, all money belongs to the government, so when oil companies, or anybody else, gets a tax break, its like stealing from Uncle Sam.
Really, when someone gets a tax break that everyone else doesn’t, it’s like stealing from everyone else. That said, I don’t know if oil companies are getting more tax breaks than other corporations. They’re getting less government money than the incompetent financial corporations and are providing something the country needs.
How is it that a skinny runt can display all the attributes and smell of a pig?
If God had a sense of humor, He’d inflate obuma to 500 lbs., give him a snout and flappy ears.
The tax credit for oil depletion ended in 1975 for the major oil companies! Only independent drillers can get that credit now. Obama is stupid, ignorant or both.
They need to change their names to GE.
Take away all their supposed tax breaks ( depletion allowances etc ) and give them one flat tax, a low rate, down from the 35% one they have now, down to somewhere between 17 and 20%. And then you can get the heck out of the way and let them produce!
We the people, urge Obama to leave office.
Big oil pays billions in taxes, GE pays zero.
GE’s CEO is in bed in the White house with zero and Big oil CEOs are not his campaign contributors.
In other words, Zero does not own big Oil... yet.
OMG I agree with Obama on this.
Well I thought we should end them also but Sarah Palin made the case that it will only hurt the small oil companies and I guess hinder exploration. She usually knows what she’s talking about on energy.
“when someone gets a tax break that everyone else doesnt, its like stealing from everyone else”
That is only if one assumes that wealth belongs to everyone and the government has a right to take as much as it can. The more tax breaks, the less money the government has to waste and to use to control us. Every bit of money left in private hands means more freedom for all of us.
Every bit of money left in private hands means more freedom for all of us.
So, if you pay a 50% tax rate and I pay nothing, we’re both more free?
It is better than both of us paying 50%.