GOP Blocks Obama's Effort To End Tax Breaks For Big Oil

Originally posted by Rockpuck
reply to post by YouAreLiedTo

 

Repubs know that the Government and Oil walk hand in hand.. don't bite the hand that feeds you: The oil industry is one of the largest sources of revenue for Federal and State governments. If you make the business environment hostile there are things the oil companies could do to really ### us over. I always figured Democrats trying to play hardball with oil companies was either an inside joke that we haven't figured out yet.... or they have no idea what they're doing.

This sounds like a great idea. Gas prices aren't high enough as it is, so lets just cut into the oil producers' bottom line and give them another excuse to raise prices. I'm sure that $5/gallon gas would be so helpful to the working class and middle class in this country.

Federal Constitution Blocks Obama's Effort To Increase Taxes For Bigger Government.

second line.

Unfortunately the GOP is right on this at the present time. Ending the tax breaks oil companies currently enjoy will result in higher gas prices. Higher prices not generated by supply and demand but prices driven up by shareholders demanding that profit exceeds last years profit by a significant margin. They have to be and should ended but it isn't as simple as just ending them. Congress has got to stop just legislating to end practices these companies engage in without following it through to it's end result.

Remember a few years ago when they cracked down on the credit card companies? And all the things they started doing to compensate for the lost revenue. Any legislation that has the possibility of screwing the consumer as an unintended consequence has to researched and unintended consequences addressed before it is passed.

Of course Republicans are going to side with Big Oil.

Of course the followers will back them up.

Can we afford to give them tax breaks? Doesn't matter, it's for Big Oil... Now if it was something like extending unemployment benefits or healthcare for the poor... That's when we have to be fiscally responsible.

Republicans are like a caricature for greed and ignorance. The rich Republicans are the greed, the poor Republicans are the ignorant. It's unfortunately true.