Conservative Commentary/Opinion on Local, State & National issues. Hours 6am to 7pm to respond to comments
Monday, April 4, 2011
Big Oil - Is our government watching out for us?
When given a chance to end $4 billion a year in taxpayer subsidies to big oil companies, Republicans, along with a few conservative Democrats, voted to extend them....soaking the poor to help the rich?
"A Compustat North American Database analysis shows that the 2009 income tax rate for U.S. oil and gas companies was about 48 percent, which was 20 points higher than the rest of the S&P Industrials."
They not only pay a much higher income tax rate, but they employ thousands and thousands of us common folk.
The US currently has the highest corporate rates in the world. That is why so many of our manufacturing jobs have been sent overseas. Lower the corporate rates and remove the subsidies and we can again prosper as a manufacturing economy.
1 comment:
"A Compustat North American Database analysis shows that the 2009 income tax rate for U.S. oil and gas companies was about 48 percent, which was 20 points higher than the rest of the S&P Industrials."
They not only pay a much higher income tax rate, but they employ thousands and thousands of us common folk.
The US currently has the highest corporate rates in the world. That is why so many of our manufacturing jobs have been sent overseas. Lower the corporate rates and remove the subsidies and we can again prosper as a manufacturing economy.
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