Senator Harry Reid, (D-NV) looks like a man deep in thought in the picture to the left here. He must be contemplating how his Democratic party can try to cover their irresponsible deficit spending of the past 5 plus years. Considering Reid, Pelosi, Obama and the rest of the Socialist big-spending fake Democrats have racked up over $6 trillion dollars in debt in that short time period, we can be sure Harry Reid is looking for ways to steal (tax) even more money to try to cover their tracks. Thus the latest scheme to raise taxes to come out of the tax and spend Democrats was announced recently in the form of stopping the tax breaks for the top five oil companies in the U.S. today.
Reid and company want the American people to believe that these oil companies are not paying enough taxes, so they want to tax them more, while disguising it as a way to help calm down Americans who are paying extreme gas prices today. Reid never lets the facts get in the way of his disguised theft of more tax dollars to try to cover their debt spending, so I will help him out right here and right now with some of those facts.
First of all, Brian Johnson, the senior tax advisor at the American Petroleum Institute sets the record straight on how much taxes oil companies already pay today in the following statement:
Our companies have an average 41% effective U.S. tax rate. That is higher than almost any other company. We pay almost $90 million tax dollars every single day to the federal government, that’s about $37 billion dollars a year.
Harry Reid just might want to research the fact of the high taxes oil companies already pay before he tries to strong-arm them into paying what he terms “their fair share.” Just what do you and your Democratic band of thieves consider a fair share Mr. Reid ? Do you not understand that your blatant money-grab here will do nothing to help people being hit with super high gasoline prices because of your Democrats and green eco-terrorist pals thuggery against our domestic energy production ? Thanks to Democrats climbing into bed with environmental activist thuggery, our domestic oil production is down from 9 million barrels a day to 5.5 million barrels a day today. See more of the the facts on this here. Get real Harry, your pathetic stage act has gotten stale, and even the most naive of people can see right through your latest money grab.
Need some more facts to ponder Harry, since you sure seem to lack any fact-based reality in your latest money grab aimed at oil companies ? Mr Johnson has a few more for you here:
For ExxonMobil, in the first quarter of 2011, it generated $2.6 billion in earnings in the United States but it also paid $3.1 billion in government taxes, according to its public revenue filings. Between 2005 and 2009, ExxonMobil paid $63 billion in U.S. taxes. Its worldwide taxes in 2009 totaled $81 billion.
Furthermore, according to the American Petroleum Institute, U.S. oil companies paid nearly $150 billion in income taxes to the federal government between 2004 and 2008. The API also reports on its Web site that the oil and gas industry in America supports 9.2 million jobs throughout the economy and contributes 7 percent of total GDP.
That sure looks like the oil companies are paying their fair share to me there, Harry. Here’s another fact you apparently forgot to mention in your latest money grab Harry. If you want to stop the oil company’s $4 billion a year in tax breaks, what about the $11 billion a year in subsidies for the corn ethanol scam that the federal government hands out ? How about the billions of dollars in tax breaks and subsidies given out for solar and wind energy schemes that produce little to nothing today as far as the bang for the taxpayer buck ? Let me add another fact that Harry forgot to tell the people during this latest money grab scheme. The Federal Highway Administration tells us that the government already takes .48 cents worth of taxes out of every single gallon of gasoline sold in the United States. Harry Reid needs lessons in telling the people the truth, and the whole truth. We can best send him that message by kicking him out of the U.S. Senate at the first opportunity, and in the meantime, we can kick out the rest of the tax and spend Democrats and progressive RINOS in 2012.