Quote:
Originally Posted by DateDoc
House democrats have pushed through an $18 billion tax bill that will be assessed on the oil companies. Senate democrats have vowed to expedite approval of the bill.
Can the oil companies afford these taxes? Yes, they can. Will they pay these taxes? They will pay the tax bill but it is really us, the consumer, that will pay for these taxes through higher prices at the pump!
$5/gallon gas will be here very soon if this goes through. Thankfully, Bush has vowed to veto this bill.
http://money.cnn.com/2008/02/27/news...ion=2008022718 |
Did you even bother to read any info about this? or are you just spewing out the typical uneducated republican scare tactics?
It's 18 billion divided by 5 oil companies across 10 years. That's 1.8 billion per oil company or 180 million a year each. Not of "new" taxes either just money that they should have been paying but were given tax credits on for the last several years.
Since those same oil companies profited 123 billion just last year alone. Congress has decided to turn back two tax cuts the oil companies have been "given".
Sorry but George Bush has more of an effect on oil prices when he starts talking about invading Iran than this would.