Obama May Levy $15 Billion Tax on Oil Company Profit
The plan would target profit from the biggest oil companies by taxing each barrel of oil costing more than $80, according to a fact sheet on the proposal. The tax would help pay for a $1,000 tax cut for working families, an expansion of the earned- income tax credit and assistance for people who can’t afford their energy bills.
As with every tax, someone pays for it, and it won’t be the company.. Why not cut the funding to Planned Parenthood? $336.7 million in taxpayer funds which added to their profit of $114.8 million and increased its total assets to $1.12 billion.
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