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Well, at least Joe Barton wasn't around to call it a shakedown.
These 5 companies earned a combined 35 billion dollars in the 1st Qtr.
Yea, they need tax breaks. (The tragic irony is how they are allowed to destroy the planet for free. No penalties, just pure profit.)
Quote:
The committee called the heads of the five largest oil companies -- ExxonMobil, Chevron, BP, RoyalDutch Shell and ConocoPhillips -- to testify at the hearing.
Senators on the committee were split in their remarks Thursday. Finance Committee Chair Max Baucus, a Montana Democrat, told the executives the generous tax breaks they enjoy have not lowered gas prices or promoted energy independence.
Sen. Orrin Hatch, a Utah Republican, brought a picture of a dog and a pony to the hearing. He said that Senate Democrats were conducting a dramatic hearing to "make some political hay at the expense of our witnesses today."
Democratic Sen. Robert Menendez of New Jersey said it's time for the biggest oil companies to give up the subsidies and allow their companies to pay a fair share toward reducing the government's deficit.
...is that legitimate deductions available to any enterprise in the country have been transformed into "taxpayer subsidies" and "tax breaks" when it comes to one of our vital industries.
Would it be fair to deny the mortgage interest deduction to any person with blue eyes? This is the same principle.
All this is entirely in keeping with the Democratic war on equal treatment under the law.
...is that legitimate deductions available to any enterprise in the country have been transformed into "taxpayer subsidies" and "tax breaks" when it comes to one of our vital industries.
Would it be fair to deny the mortgage interest deduction to any person with blue eyes? This is the same principle.
All this is entirely in keeping with the Democratic war on equal treatment under the law.
One of our "vital industries" has us all over a barrel (no pun intended) and makes profits never before recorded in history. In addition to making these world record profits they pay little or nothing in taxes and are not penalized for their destruction of the environment, unless the destruction is too large to hide or it affects too many people to hide. Otherwise they get off scot free.
How they get taxpayers to carry their water is beyond my grasp.
Try again, Exxon has paid less taxes percentage-wise in the last few years, IN WHICH THEY HAVE EARNED THEIR HIGHEST PROFITS IN HISTORY, then the average American tax payer.
I love how so many people claim to want a pure free market system, but when it comes to big oil, they defend government aide to the oil industry which would do just fine without it. How about giving these same big tax subsidies to small or mid-size businesses in America, you know the ones that actually create more domestic jobs then outsource them? Oh, no!!! That just reeks of socialism!
These 5 companies earned a combined 35 billion dollars in the 1st Qtr.
The irony of left wigners being outraged over companies earning an average of $7B a year, but saying the federal governement isnt collecting and speding enough even though its 500 times more
...is that legitimate deductions available to any enterprise in the country have been transformed into "taxpayer subsidies" and "tax breaks" when it comes to one of our vital industries.
Would it be fair to deny the mortgage interest deduction to any person with blue eyes? This is the same principle.
All this is entirely in keeping with the Democratic war on equal treatment under the law.
Yea, except my local watering hole isn't asking for trillions in defense dollars that act as a security subsidy for the free flow of beer in the Middle East. Why don't the oil companies hire their own Armies and Navies?
Americans have every right to demand cheaper fuel and the end to tax subsidies for the oil companies that are making record profits.
Try again, Exxon has paid less taxes percentage-wise in the last few years, IN WHICH THEY HAVE EARNED THEIR HIGHEST PROFITS IN HISTORY, then the average American tax payer.
So what? If DEMOCRATS would stop creating such things like green energy credits for these corporations to use, we wouldnt be having this discussion. Now all of a sudden the outrage because corporations are using credits you guys supported
Quote:
Originally Posted by desertdetroiter
Americans have every right to demand cheaper fuel and the end to tax subsidies for the oil companies that are making record profits.
And tea partiers who demand the same from the federal government are criticized to no end..
So what? If DEMOCRATS would stop creating such things like green energy credits for these corporations to use, we wouldnt be having this discussion. Now all of a sudden the outrage because corporations are using credits you guys supported
And tea partiers who demand the same from the federal government are criticized to no end..
I won't critisize them if they'd eschew big government themselves. When every Tea Partier of Social Security and Medicare age refuses to take the benefits, then i'll listen.
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(The tragic irony is how they are allowed to destroy the planet for free. No penalties, just pure profit.) 
The amazing thing about the dog and pony show...
