Quote:
Originally Posted by Derwood
you're being disingenuous. he's extending an already existing tax credit (not starting a new one) and he's scrapping some tax breaks on companies that don't need them (not raising taxes on the populace).
at least be honest when you're describing something
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That tax credit had an expiration date. Obama wants to extend it for 10 years at the expense of another $100 billion that isn't on the books now.
By closing a loophole, the oil companies tax bills are going to go up. I really don't expect them to absorb that cost. So part of the higher cost of petroleum products will be to cover the increased tax bills.
Corporations don't pay taxes. People pay taxes.
---------- Post added at 06:37 PM ---------- Previous post was at 06:36 PM ----------
Quote:
Originally Posted by Willravel
You're saying tax breaks somehow become socialism when you agree to pay for them?
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No, that was a reference to Obama's latest spending/tax plan. If I was Obama and Biden, I'd hang my head in shame too.