Even With Skyrocketing Gasoline Prices, Dems Introduce Bill to Raise Energy Producers’ Taxes [Greed]

ATR ^ | 2011-05-11 | Christopher Prandoni

[92nina]

Attempting to feign fiscal austerity, Democrats have looked to raise taxes on America’s oil and natural gas producers. With the nation fixated on deficits and debt, Senate Democrats, unwilling to seriously cut federal spending, have introduced the inaccurately named Close Big Oil Tax Loopholes Act of 2011—legislation to repeal expensing deductions and necessary tax policies employed by American oil and natural gas companies.

Are oil companies the recipients of government subsidies? No, the federal government does not give oil and natural gas companies a cent to produce oil. Unlike other forms of energy, oil and natural gas producers receive zero grants or loan guarantees, nor does the government impose any consumption mandates.

According to its cosponsors, why is this legislation necessary? “The American people are demanding to know why they are stuck paying $4.00 for a gallon of gasoline …And they want to know why these oil companies should continue to enjoy billions of dollars in subsidies when the working class, the needy, and the elderly are being asked to sacrifice in order to balance the budget?..”

Read more: http://www.atr.org/even-skyrocketing-gasoline-prices-dems-introduce-a6131#ixzz1M4hqoQkM

[92nina]

Hypocrisy by Liberals is never a surprise, but it is always inconvenient, and this time not humorous.

Take this article and others I found to the fight to the Libs on their own turf; put the Left on the defensive at at Digg and at Reddit and in Delicious and Stumbleupon

[Tzimisce]

According to libs:

To save the media, we need to lower their taxes.

In order to save the American consumer, we need to raise their taxes.

Any questions?

[92nina]

But how much more will this allow the government to spend?

[houeto]

“The American people are demanding to know why they are stuck paying $4.00 for a gallon of gasoline …And they want to know why these oil companies should continue to enjoy billions of dollars in subsidies when the working class, the needy, and the elderly are being asked to sacrifice in order to balance the budget?..”

Billions of dollars in subsidies?

[Grut]

I don't understand why gas isn't advertised at it's price before taxes, like every other product in the country. Then the government can bump that up with taxes as much as it likes. Or possibly 'dares'.

[92nina]

Right on, and if oil company taxes happen, expect more “shovel-ready” projects to support Federal highway spending, or not-so-high-speed railways.