In this troubling economic times, the government, instead of admitting their own malfeasance and years of mismanagement by both parties, and continuing their assault on business, businesses that create millions of decent wage jobs, have began calling for an end to Oil Company Subsidies.
Right away, with the crafty and misleading use of the word “subsidy,” that conjures visions of cash payments from the government to the oil companies, a false impression is created. The oil companies receive no payment from the government, but like other companies, receive some tax breaks to recoup some expenses and in turn, create or maintain more jobs.
Replying to Obama’s calls to “eliminate unwarranted tax breaks for the oil and gas industry and use the dollars to invest in clean energy,” Republican Speaker of the House, John Boehner said that cutting the subsidies to oil companies is “certainly something we should be looking at,” adding, “We are in a time when the federal government’s short on revenues. We need to control spending, but we need to have revenues to get the government moving. They ought to be paying their fair share.”
“Paying their fair share?”
Oil giant ExxonMobil is often the target of government with claims of they paid no taxes in 2009, a claim even Politifact declares FALSE!
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