Monday, May 19, 2008

Big Oil Tax Breaks? WHAT BIG OIL TAX BREAKS???

I was listening to talk radio, shouldn't do that, you just get too depressed. But then some idiot (who they let on the air because they show you just how hopelessly ignorant the population is and how doomed we are, but it's good for ratings) came on and started blathering on about how we need to cut the tax breaks we give to "big oil."

And I ask ye all of the economic faith, what tax breaks?

So I looked up the income statements of Exxon to see what kind of tax rate they were paying. You know, because they're in such big cahoots with Bush they should have a tax rate at around 3% or so;



42% FREAKING TAX RATE!

So, what, if they weren't given the "tax breaks" they'd be paying 52%? And if I recall correctly, weren't these "tax breaks" incentives to get them to invest in renewable energies?

And you people wonder why corporations move to Dubai or the Caymans.

To quote Rush Limbaugh, "People have no idea how much ignorance costs us."
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4 comments:

  1. Anonymous3:50 PM

    That's crazy, Exxon pays more taxes than the whole population of Kenya (no pun intended, Mr Obama).

    ReplyDelete
  2. Captain Capitalism10:44 PM

    You are a racist, you must die!

    No, just kidding, but seriously, it's about becoming that here in the US.

    Watch the US election, you think false accusations of racism has occurred before, just wait.

    "I wasn't elected president. Ergo the US is racist."

    What's sad is most of the population will believe it.

    ReplyDelete
  3. Anonymous6:33 PM

    You still doing that talk radio show Cap'n?

    ReplyDelete
  4. Anonymous9:01 PM

    I believe that the tax breaks are in the form of expense crediting on the balance sheet. I might be wrong tho. You should check out the expense section.

    ReplyDelete