Keyword: raxcredit

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  • Oil “subsidy” and “tax breaks” nonsense

    05/21/2011 7:53:48 AM PDT · by Kaslin · 15 replies · 1+ views
    Townhall.com ^ | May 21, 2011 | Paul Driessen
    President Obama frequently says Americans "need to end our $4 billion in annual taxpayer subsidies to oil companies." The latest Democrat bill would have repealed some $2 billion of what Senator Charles Schumer (D-NY) and others call "subsidies" and "special tax breaks" for Big Oil. That’s baloney – shameless demagoguery that will inflict further damage on our struggling economy. Subsidies are cash payments from government to the private sector. Money is taken from the 51% of Americans who still pay income taxes – and transferred by legislators and bureaucrats to companies and activities that "deserve" or "require" these wealth transfers,...