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To: quesney
"including ending subsidies to oil and gas companies, an idea that failed in the Senate"

O.K., so when and if those subsidies are ended, oil companies will simply pass on the lack of subsidy revenue to gas customers - therefore, we all will pay at the pump as well as continue to pay the same amount to the government as they are bound to find another way to spend the 'savings'.

65 posted on 06/27/2011 2:37:46 PM PDT by existentialist
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To: existentialist
so when and if those subsidies are ended, oil companies will simply pass on the lack of subsidy revenue...

Newsflash--there are no oil and gas subsidies. There are certain tax credits, for exploration and depletion, which reduce taxes much as your mortgage deduction reduces the amount of your income subject to taxation, and depreciation helps you afford to buy equipment for your business. Neither one gives you "subsidy revenue."

151 posted on 06/27/2011 6:17:49 PM PDT by hinckley buzzard
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