Thursday, May 19, 2011

Well, That About Sums It Up...


Yesterday, one of my friends posted a link on his Facebook page to this article from the Los Angeles Times: Senate Republicans Block Action on Oil Tax Breaks. One of the most interesting parts of the article reads ...

"Republicans contend that the tax breaks are necessary to encourage domestic production. The repeal effort also was opposed by the oil and gas industries, which contributed more than $21 million to House and Senate candidates — about three-fourths of which went to Republicans — in the last election cycle, according to the nonpartisan Center for Responsive Politics."

In the world of business, is it really necessary to have a tax incentive to encourage doing something it makes sense to do in the first place? Just curious.

Anyhow, the article, citing data in a report from the organization Taxpayers for Common Sense, says that the value of tax breaks to the oil and gas industry is about $16 billion per year; the bill voted down in Congress took aim at about $2 billion of that which is steered to five major oil companies: Exxon Mobil, Shell, BP, ConocoPhillips, and Chevron. These would be the oil companies which have posted record profits this year.

Just a little something to think about while you're sitting in line at the gas station, thinking about partisan efforts in Congress to slash spending on wasteful, frivolous things like ... oh ... education and health care.

When considering the actions of your elected reprehensives, it's useful to consider the wise words of immortal sage Jerry Reed: "He who expected nothin' ain't gonna be deceived."

Have a good day. More thoughts tomorrow.

Bilbo

9 comments:

The Mistress of the Dark said...

I have to get pregnant soon, so I can pay for gas!

Banister said...

I don't know for certain who first wrote that people get the governments they deserve, but I am sure that my late fellow Baltimorean H. L. Mencken wrote that "nobody ever went broke underestimating the intelligence of the american public."

So I'm left with the idea that ass-clownage in the Congress is what we deserve, given the average intelligence of "the American public."

So how did this nation go from a place where even poor people were informed and reasonably educated to the place where we now find ourselves? I have looked at this from various angles, and I believe that we have so dumbed-down the educational systems in the United States in the idea that "every child should be equal" that we have gone from a nation of the highest common multiple to one of the lowest common denominator.

Since elected representatives always appeal to the lowest common denominator to keep their voter base a broad as possible, we seem to be in a vicious cycle.

"Do you pray for the Senators, Dr. Hale?", someone asked [the chaplain of the Senate], "No, I look at the Senators and I pray for our country."

Amen.

Amanda said...

LOL at the mistress of the dark's comment!

KathyA said...

I can think of other body parts that might be a little more lucrative...

Bilbo said...

Andrea - if I could afford to give out a prize for Best Comment, I think you'd win hands down with that one!

Banister - "...we have gone from a nation of the highest common multiple to one of the lowest common denominator." Great observation!!

Amanda - I'm still laughing...

Kathy - That's just WAY too much for me to contemplate at this hour of the morning...

Mike said...

@MotD - Make sure it's artificial insemination. Otherwise the dad will get half a tank.

allenwoodhaven said...

Remember that a wise man said, "Half the people in the world are below average."

This explains a lot!

Bilbo said...

Mike - only you could have topped Andrea's comment...

Allenwoodhaven - well, now we know which half Congress is in.

Edwin Frownfelter said...

On the other hand, by my calculation the oil companies are getting $7.61 in tax breaks for every penny they spend in contributions. I guess they are the smartest guys in the room.