Tax cuts

I've always had a soft spot for the GOP since i vote... Haven't always voted for them but mostly...

One thing i really dont understand about it is why (??????????) they think one should, along with the various cuts that must be made, protect the tax cuts for oil companies. These are companies that make billions in profits at the same time when we are are cutting on education ( so the chinese and the koreans and the indians can take advantage of it ).
Why cant oil companies pay the same taxes as other smaller companies? I could understand if they were losing money, or even running at no profit, tax cut would give them a push, but last year Exxon made 30.6 B usd in profits... That does not look to me like a company that needs tax cut...

The US is a great country because our Founding Fathers created a country where everybody's equal, and this isn't

reply to post by shasa


I think Tax cuts are necessary and effective in certain circumstances. I work for a small business owner and if anything he deserves a tax cut, not because he'll hire people (because tax cuts will not cover the cost of more employees), but because the business needs all the financial help to keep afloat and to keep the current folks in their positions.

I am in full agreement with you that it is unbelievable how politicians can outright support lifting taxes for the super wealthy corporations, businesses, wealthy people. Deep down it comes back to political alliances, business contacts, corporate benefits, these things influence politicians to make the weight easier for these large businesses and to ignore the smaller guys. On the outside though and in public these politicians as with their supporters, libertarians, republican voters, will argue that tax cuts for the wealthy trickle down, that even in deep economic periods, tax cuts create more jobs. It's a false assumption that republicans and many of them have been pushing for years. Tax cuts mean nothing if a large corporations can pay for labour a fraction of what they pay americans here. It also means nothing if the wealthy are hoarding their cash.

Subsidies always distort the market and create less efficiency. Subsidies= government intervention. Taxes=government intervention. Taking away subsidies lessens government intervention as do tax cuts. Taking away subsidies is not equivalent to a tax hike in reality. Big corporations, not matter the industry, pay huge sums of money to avoid paying the 35% corporate tax; mainly through teams of lawyers, accountants, moving business overseas, bribing foreign officials, paying for secretive banking services, etc...In the end these companies probably pay the equivalent of a 15-20% corporate tax, only it doesn't fill the coffers of govt., just to avoid paying the 35% corporate tax. If you lower the rate to 10% and close all the loopholes, govt. will get the revenue, business will come back to America, and corporations will be happy to pay that 10% because it would cost less than all the money they pay to avoid paying the current 35% tax. Furthermore, the leftover money could be spent more efficiently rather than hiring lawyers and accountants to get them loopholes or bribing corrupt foreign officials.

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Lowering taxes is great, i agree.
Having only certain companies, that are doing very very well, pay less taxes than others, is actually something different... I'm sure you agree