Raging Right Wing Republican

For those of us who are politically informed, and therefore Republican.

Wednesday, January 24, 2007

Since when is a tax break free money?


Subsidies? What subsidies? Here's exactly what the Democrats did:
The legislation would impose a "conservation fee" on oil and gas taken from deep waters of the Gulf of Mexico; scrap nearly $6 billion worth of oil industry tax breaks enacted by Congress in recent years; and seek to recoup royalties lost to the government because of an Interior Department error in leases issued in the late 1990s.
So they're hiking taxes on the oil companies and applying more fees for oil exploitation on government land.

A subsidy is when the government gives out free money to a company, industry, or a group of people. It is funding.

Tax breaks are not subsidies; it's nothing more than allowing people to keep more of their own money that they earned. Giving an oil company a tax break is no different than letting you or I keep more of our income by reducing the amount of money we have to pay on our income taxes.

But apparently the Democrats view tax relief as a subsidy for oil companies. This is typical for liberals; they think allowing people to keep more of their own money is equivalent to the government giving them money. Which is pretty insulting, isn't it? It's almost like they think that money is theirs.

And of course this is going to do nothing but make prices at the pump more expensive.

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