Venom and oil

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Are you sure about the $16B in New Taxes?

I haven't seen the wording of the proposed bill (that has little chance of passing anyway) but an earlier version called for the suspension of special Tax Breaks that oil producers were granted back in the mid-80's. The reason I'm curious is that those special tax breaks should add up to about $16-18 Billion in 2007. In other words, if you were an oil producers and the government took away your corporate welfare, you'd call that a new tax.

I realize that there is so much word play in Washington - where not cutting a tax is considered by some to be a tax increase, where no one seems to understand that every dollar spent results in a dollar (or more) of tax to someone at some time - it's hard to tell what lawmakers are really saying.

Posted by: WiredGuy   Posted on: 08/05/07 You are currently: a Guest | Members login | Terms of Use

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