Sanders calls for repeal of tax breaks for oil, gas industry

[Robbien]

Source: Burlington Free Press

WASHINGTON — Sen. Bernie Sanders is pushing a measure to end more than $35 billion in tax breaks for the oil and gas industry.

The Vermont independent today proposed putting $25 billion in savings toward reducing the deficit and $10 billion toward the Energy Efficiency and Conservation Block Grant program over five years. Such funds help municipalities build windmills, make energy efficiency improvements or improve sewer treatment plants.

“If there is anything we should be learning from the Gulf disaster, it is that it is time to move aggressively away from polluting and unsafe fossil fuels, which are getting more and more difficult to produce as we move further and further offshore to drill for them,“ he said in a statement. “And, with a $13 trillion national debt, the last thing we need to be doing is giving tax breaks to big oil and gas companies that have been making record-breaking profits year after year after year.“

Sanders said all of the oil and gas tax breaks that his measure seeks to repeal were targeted for elimination in President Barack Obama’s fiscal 2011 budget. Sanders argued that instead of using their profits to invest in renewable energy and prevent oil spills, oil and gas companies are primarily using the money to buy back their own stock and enrich their CEOs.

Read more: http://www.burlingtonfreepress.com/article/20100609/NEWS02/100609016/Sanders-calls-for-repeal-of-tax-breaks-for-oil-gas-industry

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[xchrom]

1. Awesome. Nt

[valerief]

2. That'll happen just as soon as we get Medicare for All. Like NEVER unfortunately.

American lawmakers hate Americans. (But I love me some Bernie Sanders for trying!!!!!)

[Hosnon]

3. Me loves Bernie! nt.

[Dappleganger]

7. Me too!

Giant K&R!

[glinda]

31. Me three!

[kestrel91316]

4. The Repukes want an end to "socialism", so let's give it to them by

starting with an end to corporate welfare. The lazy slackers can do without handouts from the taxpayers.

[KansDem]

12. Yeah! If the CEOs want more money...

...they'll just have to work harder!

[Alpha Numeric Wanda]

32. Double standards never cease to amaze me!

Corporate welfare = good, people welfare = bad. And yet corporations can have the same protected free speech as individuals. What's next? Will corporations get the right to vote?

[Enthusiast]

38. "Will corporations get the right to vote?"

Don't give them any ideas!

[happygoluckytoyou]

5. how about $35billion to the GULF economy until they are "above water"

[FailureToCommunicate]

8. Nah, that should come from BP profits- about 1 and half years' worth. Gulf before shareholders!

link:
http://robertreich.org/post/650145579/why-obama-should-put-bp-under-temporary-receivership

[happygoluckytoyou]

9. agreed, but we know that ain't REALLY gonna happen.... so let's send them the $$$

[FailureToCommunicate]

11. Okay, you convinced me.

[OrpheusSang]

19. BP's so called profits make up less than what should have been set aside for dealing with disasters

There's a great article about this here:
http://www.monbiot.com/archives/2010/06/07/the-money-gusher/.
Monbiot argues thatt profits are inflated because the cost of
clean up operation is externalized and paid for by ordinary
people.. 

[FailureToCommunicate]

26. Oh BP's profits are real enough. There are apparently shareholders here at DU arguing

against liability costs (or laying low now). The shareholder come first, the world be damned. Look at the 21 years of lawsuits results for Exxon. The final payout- if that ever happens- was settled (by the Supreme Court) at a fraction of the 5 Billion agreed upon...

But I understand your comment, I think.

Thanks for the link

And welcome to DU by the way.

[mzmolly]

6. Bravo!

:toast:

[ProSense]

10. Good. The President proposed this in

budget and again last week.

[Rosa Luxemburg]

14. Super!

not many people know that. He'd better shout it from the rooftops

[wordpix]

25. good, best thing I've heard about O in a month and a half

[colsohlibgal]

13. Bernie, Bernie, Bernie

He has our backs 100% as opposed to "democrats" like Obama, Dodd, Baucus and too many more.

[Rosa Luxemburg]

15. Excellent!

[Crowman1979]

16. Anyone who opposes this has no soul.

[katandmoon]

17. Good luck with that....

[Skink]

18. C'mon guys lets take are old not up to code rigs and move to Brazil.

[Nihil]

42. They'll probably find that Brazil's regs are more stringent than the ones they're used to ...

... and that they are enforced at least *some* of the time ...

[CanonRay]

20. I love Bernie, but

take a deep breath and hold it...you'll be dead long before this passes.

[LiberalFighter]

21. I would like to know how much in annual tax breaks they receive

and how much in stock dividends, bonuses and perks are paid out.

[LiberalFighter]

22. It is time to get out of the Fossil Age

[Optimistic]

23. Sanders is the only person in DC Not bought by The Corporations

[Nihil]

41. It looks that way at times.

Good luck to him - he'll need it - as this is the most useful proposal
I've seen reported in a while!
:thumbsup:

[wordpix]

24. Bernie, run for president next time around. Our commander in chief is AWOL

he needs to STAND UP to these BigOil tycoon whoemasters but I don't see it happening :shrug:

[The Troubadour]

49. I'm just simply amazed...

...that a man of his integrity has managed to maintain a senatorial chair. Granted, he is from Vermont. But still. It gives just a shred of hope that others can do similarly. He is indeed a hero.

[MindandSoul]

27. Sounds good to me!!! What's keeping us. . .the corporate REPs in Congress, I guess!

[FBI_Un_Sub]

28. Long over due.

[RoccoR5955]

29. K & R!!! Sanders/Kucinich 2012!

The man should seriously consider becoming our President. He's one of the only congress critters who still works for WE THE PEOPLE, not them, the corporations!

[JerseygirlCT]

30. Bernie Sanders for president...

Boy, I love that guy!

[defendandprotect]

33. Agree --

and I think Obama was murmuring something about cutting oil tax allowances recently?

[juajen]

34. Why can't Bernie be President? Sigh.......

[pundaint]

35. Go Bernie, Go Bernie

Remember when that sort of idea used to come from Democrats? I miss the two-party system.

[laughingliberal]

36. K & R nt

[LiberalEsto]

37. K&R! nt

[polichick]

39. A wise leader - how refreshing! nt

[Enthusiast]

40. Too bad there are so few like Bernie.

Imagine, restricting corporate welfare has become a controversial idea.

How many times have we heard TV Republicans say "America has the highest corporate taxes in the world!"? This is their excuse for the wholesale transfer of manufacturing overseas. Funny that Toyota, Honda, Kia, Nissan and others seem to make a profit while operating in this country. How in the world do they do it in this climate of corporation persecution? :sarcasm:

[burnsei sensei]

43. An excellent suggestion,

far superior to anything I have heard so far in favoring American interests in response to this crisis.
Mr. Sanders, I hope, will eventually be awarded the Medal of Freedom.

[NewJeffCT]

44. Passing this should be a no brainer

I'm guessing if they took a survey of the people "Do you favor repealing the Bush era tax breaks for Big Oil to help reduce the deficit and fund alternative energy and infracture improvements?" you'd probably get 70-80% in favor.

Of course, Democrats never miss an opportunity to miss an opportunity, as somebody on DU once said.

[wordpix]

47. a lot of no brainers don't get passed by Congress, though, b/c they're whores for these industries

:puke: :banghead:

[patrice]

45. Can't wait to hear their Tory arguments against this. nt

[JNelson6563]

46. Awesome.

:toast:

[fascisthunter]

48. can you believe it... tax cuts for the Oil and gas Industry

holy shit! Since when do these industries need a f*cking tax BREAK!?!?!?