VIDEO ON MSN MONEY
First of all, I hate paying $4 a gallon at the pump just as much as anyone else, We the people are all struggling in this economy. But let's get this straight, the President and other politicians as well as alot of "We the People" are all up in arms and complaining about subidies for big oil! Ask yourself this, Do you really understand what these subsidies are? They are TAX BREAKS for the cost of doing business that are allowed to be taken by EVERY company/person in this country. Do you right off your home mortgage interest, your property tax, child tax credit or any of the other countless deductions that are out there. If you do, YOU ARE RECEIVING GOVERNMENT SUBSIDIES ALSO!
Wake up people, If you want BIG OIL to give up their tax breaks, then YOU need to be willing to give up yours! WAKE UP People, we are being deceived by almost all Politicians, especially this administration! Do your research, learn what is really going on here or it is all going to get ALOT worse.
e a genius to know that OIL CORPORATIONS DON'T PAY TAXES; THEY PASS THEM TO CUSTOMERS IN THE FORM OF HIGHER PRICES AT THE PUMP!!! WE ARE BEING ROBBED AT THE GASOLINE PUMP BY OUR OWN GOVERNMENT... do you really think Exxon and others are paying taxes? really? AMERICANS ARE REAL SUCKERS! This is why they keep pulling your pants down and raping you and your ch
I'm certainly no math whiz but I can compute %s and I can't make any sense
out of this with the figures you have given... more info please.
So the 'greedy' big 3 oil companies make about $0.08 of profit on each $1.00 of sales, and they pay an effective tax rate of about 43% on income and they get Obama's condemnation, but Obama's big buddy Microsoft (Bill Gates, NBC) makes about $0.33 of profit on each $1.00 of sales but pays an effective tax rate of only 15.9% on income.
Gee, I wonder who's REALLY 'not paying their fair share' of income taxes.
The point of it all is NOT that they paid x amount in total $. Numbers can tell you anything you want them to depending on how you read into them. The point really is that there are tax breaks that prevent them from paying the amount that they truely should pay. It does not matter if the paid $40 billion or $5, there are holes in the system that enable certain companies in certain industries to pay less than they would have to without the laws the way they are. When they were implemented the reasoning may have been legitimate, however, under mountainous debt now we cannot afford tax breaks for any of these industres. I LOVE how this article points out that without the loopholes "it would hardly make make a dent in the debt". Really???? Over time it will. Every little bit helps does it not?????
That is the exact disconnect from everyday people that this country has in government. A 1.5% raise for someone making $18K a year is hardly alot, especially on a daily/weekly basis, but ask that person if it helps them just a bit. Every little bit helps.
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