26 Sep '11, 3pm

More than 70& of the tax increases in Obama's "jobs plan" target the oil and gas industry #TCOT,#NRG4USA

has assembled a quick summary of all 14 tax hikes in the so-called “jobs plan.” More than 70 percent of them target the oil and gas industry. Even if you think that, for example, a company should not be able to deduct costs associated with drilling in the year the expense occurred—as is the case now; even if you think that energy companies should be singled out to have the manufacturer-tax deduction taken away while other industries keep it; and even if you think oil and gas companies should have to pay US taxes on money that has already been taxed in other countries, you know it will increase the costs to the energy companies. As Kathy Ozanne, in a comment on the ATR page , said, “econ 101…Corporations never pay taxes, their customers do.” The cost increases brought on by President Obama’s “jobs plan” will serve as a tax on everyone and ultimately kill jobs in the one ind...

Full article: http://www.globalwarming.org/2011/09/26/president-obama%E...

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