The “Great Recovery” is in full swing, and while the stock markets continue to rise along with the already record-setting corporate profits, the middle class is feeling as squeezed as ever. As cong…
Projected value of credits and subsidies to oil industry over next 10 years:
Section 199 = $18.2billion
Foreign Tax Credit = $8.5billion
Intangible drilling cost subsidies = $12.5billion
Percentage depletion deductions = $11billion
TOTAL COST TO TAXPAYERS OVER 10 YEARS = $50.2billion
One more important fact to remember in November.
"Led by the oil and gas industry, this sector regularly pumps the vast majority of its campaign contributions into Republican coffers. Even as other traditionally GOP-inclined industries have shifted somewhat to the left, this sector has remained rock-solid red."
See on www.demonews.org