Republicans refuse to repeal taxpayer subsidies for Big Oil

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Originally Posted by Riot

FTFY.

Yes, GE should pay taxes. Instead of us giving profitable companies billions a year in tax breaks. You know, because we are supposedly broke?

So: are you personally in favor of oil company subsidies, or not?



Tax credits for non-oil renewable energy startups or alternative energy? Billions towards our deficit? Rather than keeping the huge long-term subsidies to record-profit oil industries?

Sounds like a remarkably better idea. Too bad the Republicans filibustered it simply because it would have passed out of the Senate, with 51 votes, as our Constitution requires.

As has been said here many, many times over 'record profits' is all relative. 10% is hardly a record profit, the fact that they move more product and have higher volume skews the numbers to make them look outlandish but you cannot say that a 10% profit is anything special. At least they pay some taxes, unlike Jeff Immelt (aka Obamas lapdog) and GE.
If you are taking that extra cash and 'investing' it into alternative energy concepts, then yes I am against it. That has proven to be a an industry best left to the angels and private corporations.