Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Why do Republicans Oppose cutting $2 Billion in Big Oil tax subsidies despite their 50-130 Billion in profits?
Republicans have been going after spending with a vengence and they want to slash at just about everything
except $2 billion in Big Oil taxpayer paid for subsidies
The Big Oil 5 make a combined *Net Profit* of 60 Billion which is expected to be around $130 Billion by the end of 2011.
So these subsidies cannot in any justifiable way be said to create jobs, they give nothing back to the middle class or poor
Why should Social Security, welfare, public employees wages+benefits and pensions as well as money for the Arts and Sciences, NPR, and other public programs be under the knife when Big Oil gets to keep its massive multi-billion dollar...gratituity I guess is the best term in addition to the other perks such as use of public land, etc?
Even if they only made a combined total of $30 Billion in profit..the loss of $2 billion is a 6.67% reduction in profits which is a very very very small loss of profit and that 2 Billion could be used to help pay the deficit.
How is this fair and right to let Oil keep $2 Billion it did not earn in any way when they are making all time record high profits even during a downturned economy.....and yet say public employees have to sacrifice their pensions, benefits, etc?
Jamie> Don't see that as valid unless you have a link to prove your point...because every liberal i know and saw here was pissed off at GE paying no taxes. In actuality it is conservatives+republicans that have always pushed for lower, lower, no taxes being paid by business and it was GOP Newt Gingrich that called it clever. Also I am pretty sure conservatives and republicans have had plenty to do with creating the current tax code
Jamie> Hmmmm green projects..OK I take your point. But in response 1 company is coming up with green alternative energy and the other is actually creating pollution, ruining regional economies, sending money back to places hostile to America and basically making the world a worse place to live....so which SHOULD get tax breaks...I would pick the pro-America company if I HAD to give one a tax break...although both should pay
Conservative Capitalist > You assume I oppose cuts to them....you are wrong....there are more than 2 sides..join us in the 21st century it really isn't so bad
? > So politicians are as ignorant and wrong as you are...yeah I can believe that since that only ones who think that are criminals, oil execs and those looking to rape and destroy the country and public
?> you must not have an education, common sense, or a soul evidently
14 Answers
- FoghornLv 71 decade agoFavorite Answer
Let's do that to the oil companies. But let's also do it to every other business that gets welfare.
- Just JessLv 71 decade ago
The elephant in the living room is that cutting oil subsidies means gas prices go up. Lots of people use gas prices as an indicator as to how the economy is doing, and politicians know it. So cutting oil subsidies is making it less likely that they'll get reelected. That's just how it is.
Of course, gas prices are going up anyway no matter what the price of oil is. So this is becoming more and more of an empty threat, and we're getting closer to the point where politicians will finally start cutting oil subsidies. It'll probably happen right around the time gas breaks 4.50 most places. It's also a big part of why they dropped when the prices were around that much last time.
- William SLv 71 decade ago
Cutting the subsidy would only hurt the small oil companies and give more profits to the big oil companies.
- Anonymous1 decade ago
If we call it "investing in america's energy Independence" like obama does with his GE subsidies will that make you feel better?
Let us know when you would like to support a Flat tax.
- How do you think about the answers? You can sign in to vote the answer.
- Anonymous1 decade ago
Honey, Republicans and Democrats both realize that it is Good for Oil to get Tax Breaks.
You must not own a car, or even have a Job. eh?
- Anonymous1 decade ago
THAT is a question for EVERY ONE of the ELECTED republicans to answer ... Throw in farm and big pharma subsidies too if you get their attention .
- Anonymous1 decade ago
Yes they shouldn't have subsides but remember Democrats controlled congress from 06-10 and did nothing so you might want to start pointing the finger in another direction, also, we should stop subsidizing LaMarcus and Chantalle to have 10 children while not working
- straightshooterLv 51 decade ago
Because they've been bought by the big oil companies and now must do the big oil companies bidding.
- Anonymous1 decade ago
They,the Republicans don't want to anger their Bosses.......that is wnhere their contributions& kickback money comes from......anger the Bosses-no more Payola!
- Anonymous1 decade ago
The same reason Osama's followers starve and live in caves and fly airplanes into buildings!!!
