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Willisms

« Wednesday Caption Contest: Part 88 | WILLisms.com | Quote Of The Day »

Trivia Tidbit Of The Day: Part 399 -- Taxes On Big Oil.

Our Domestic Energy Sector: Taxed Too Much As It Is-

We're currently taxing our energy companies way too much as it is (numbers via the blog of The Tax Foundation):

profitstaxesexxon.gif

And yet, the ad wizards America just elected are set to raise taxes on "big oil" (and consumers, too), using language like "rolling back oil subsidies" and "eliminating tax cuts and loopholes."

What subsidies? What loopholes?

What country is this?


-------------------------------------

Previous Trivia Tidbit: There's A Reason People Are Choosing Red States.

Posted by Will Franklin · 17 January 2007 10:50 PM

Comments

How much of that tax money is the tax incorporated into the price you pay at the pump, which goes directly to government, and how much is the corporate income tax, which is levied on the oil company's profits? I'd love to see the taxes broken down by type.

Posted by: Bigfoot at January 18, 2007 01:11 PM

Is Big Oil(TM) doing the ripping off or getting ripped off?

The media says it's the former.

Posted by: Hoodlumman at January 18, 2007 01:32 PM

What's too bad is that small and medium oil, more than big oil, are going to get hosed.

Posted by: Will Franklin at January 18, 2007 03:27 PM

The Dems will hose away as long as it gets them a talking point.

Bonus points if it involves raising taxes.

Posted by: Hoodlumman at January 19, 2007 09:22 AM