01 October 2008

the bottom line...

if anyone has any doubts about the disaster of the last eight years, this is the only information you need...

Gas prices 2000 vs 2008jpg

any questions?

I have one. How is the Mcpain economic plan going to help out?
The McCain Plan to Cut Oil Company Taxes by Nearly $4 Billion

The centerpiece of Sen. John McCain’s (R-AZ) tax plan is two huge tax cuts for Ameri-can corporations. As president, McCain would cut the corporate tax rate from 35 per-cent to 25 percent and allow corporations to deduct immediately all of their investments in equipment and technology. Reducing the corporate tax rate alone would deliver a $3.8 billion tax cut to the five largest American oil companies, according to a Center for American Progress Action Fund analysis of those companies’ financial statements....

The McCain plan would deliver approximately $170 billion a year in tax cuts to corporations, including some corporations that are very large and profitable. Just one of the proposals—cutting the corporate rate from 35 percent to 25 percent—would cut taxes for five largest U.S. oil companies by $3.8 billion a year (see table below). The five corporations analyzed—ExxonMobil, Chevron, ConocoPhillips, Valero Energy, and Marathon—are the five largest oil companies as ranked by Fortune Magazine. All are members of the Fortune 50. Together, they earned $80 billion worldwide in 2007

You can read the entire report at The American Progress in Action.org

any more questions?

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