Big Oil continues to win

[GeoFisher]

[FONT=Arial]The Senate fell short of the 60 votes needed to proceed to consideration of this bill that would end certain tax breaks for large oil companies. The bill may resurface as part of the upcoming budget negotiations.[/FONT]

In case your wondering, Mitch McConnell and Rand Paul both voted against this bill and for big oil tax breaks! Looks like ol Rand may not be as tea party as we had hoped!

There are some HUGE issues with the tax breaks that BIG OIL GET......the single biggest is the fact that it hurts practically every other corporation that gets tax offsets for certain manufacturing....

Instead of a repeal, you'd have to rewrite the law to EXCLUDE big oil, and then that would be unconstitutional....

So to eliminate the break for oil you'd have to eliminate it for every manufacturing corporation, including Ford, GM, GE, Westinghouse and every other PRODUCT MANUFACTURER in the country.

Of course, no one who is bitching about big oil has said a single thing about this......have they.

NO my friends...........while the country is in a serious pickle, you CANNOT remove these incentives that are used by corporations to CREATE JOBS.....

Watch what Newt said this Sunday......he wants to lower corporate taxes by 5 percent and ELIMINATE the breaks, and then he wants to eliminate capital gains, and then eliminate inheritance tax. ALL of those would FLOOD the market with new capital for companies to develop and grow.

Imagine that.......someone who actually wants to see America prosper again.

Later,

Geo

[roadrunner]

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