Wednesday, October 03, 2012

Why Shouldn't Oil Companies Pay Taxes ?

This is a very good question. Why are we giving oil companies billions of dollars of tax breaks while cutting money for education (and many other programs that help ordinary Americans)? Why shouldn't the hugely profitable oil companies pay their full share of taxes just like the middle class does?

We have a choice in the coming election. If the Republicans take control, they will reduce taxes for the oil companies (and other corporations even further (and some would eliminate ALL taxes for corporations). If the Democrats take control, they will reduce or eliminate those huge subsidies for the oil companies. If the status quo is maintained, then nothing will be done and the subsidies will stay in place.

That's a pretty good argument for kicking the Republicans out of office.
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2 comments:

  1. Jayhawk10/03/2012 10:10 AM

    Again with the statement of profits in large amounts with no context. Shocking that they make huge profits? No, they are huge companies. That horrific, evil, sadistic, usurious $135 billion represents a profit margin of approximately 10% of their income, using labor of workers to a large extent riht here in the USA. They poroduce a product thet virtually everyone uses to fulfill a need and they work in a competetive market.

    Apple, however, the company that everyone loves, and for which people stand in line overnight to buy products sight unsees, makes a 54% profit margin using labor in sweat shops overseas. No one states their horrific, evil, sadistic, usurious profit in absolute amounts, or asks how much they pay in taxes. They produce toys and have no competition.

    Pfizer makes a 38% profit margin by charging outrageous prices for products protected by patents granted to them and extended by the federal government. They protect their profit margin by filing lawsuits against and driving out of business any company which tries to produce the products at lower prices. They coerce the government to protect them with laws against imported products. No one states their horrific, evil, sadistic, usurious profit in absolute amounts, or asks how much they pay in taxes.

    Oil companies are actually about the least evil corporations in the US, but their large numbers,the relatively small tax break and Obama's rhetoric makes them an easy target.

    ReplyDelete
  2. Ted McLaughlin10/03/2012 1:13 PM

    They may be an easy target, but that doesn't mean they should get subsidies or not pay taxes. All profitable corporations should pay taxes.

    ReplyDelete

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