Democrat Majority Senate Rejects Obama’s Demand To End Oil Tax Breaks

by Cristy Li on March 30, 2012

in Government

Obama Photo-Op at Maljamar Cooperative Assn in New Mexico (Reuters)

(Washington Times) Out of touch with reality, the perpetual campaigner Barack Obama yesterday, called for Congress (once again) to end $4 Billion in annual tax breaks to oil and gas companies (that he just loves to demonize except when it comes for a good photo-op) and within minutes of Obama’s lamest yet demand, the Democrat majority Senate rejected, the soon to be lame duck president push to raise taxes in an election year.

What the Campaigner in Chief  doesn’t say (or may just be unwilling to admit to himself) is often more important than what he does say.

Fact Check: America’s oil and natural gas industry supports 9.2 million jobs and nearly 8% of our nations gross domestic product–U.S. major energy producers are paying $86 Million everyday in taxes and over the last 10 years have paid over $100 Billion in taxes despite what President Obama may otherwise believe or say.

Related: Do Oil Companies Pay Their Fair Share? –The Tax Foundation

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