10 Apr '11, 12pm

As Exxon pays zero taxes, Fox host defends Big Oil subsidies

Conservatives want deep cuts to programs for Main Street Americans like the Pell Grant and Head Start, claiming that they are necessary to rein in the budget deficit. Yet at the same time, House Republicans voted unanimously to protect taxpayer giveaways to Big Oil, even with major oil companies like Exxon paying absolutely nothing in federal corporate income taxes in 2009. Think Progress has the story Rep. John Garamendi (D-CA) appeared on Fox Business Network yesterday and criticized the industry’s subsidies, asking why we they need billions of dollars a year from taxpayers. Host Eric Bolling attacked Garamendi for his criticism, saying that oil companies are paying the most taxes in the world and that their profit margins aren’t very high: GARAMENDI: The wealthiest industry in the entire world, the oil industry … They’re going to see extraordinary profits yet about 12 b...

Full article: http://climateprogress.org/2011/04/10/as-exxon-pays-zero-...

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