What!!! BP is getting a $13 Billion tax credit for destroying the GOM?

[Scuba]

Email from Left Action ..........


Okay, just when you thought things couldn't be more screwed up... BP is getting a $10 billion tax credit as a result of the spill. Full details at the link, but... do we even have to explain how insane this is?$10 billion is the equivalent of the entire budget of the EPA. The idea that BP is enjoying a windfall as a result of this catastrophe is completely, 100% insane.


Click, learn more, take action, and tell BP to pay. Destroying the Gulf shouldn't lead to a tax windfall.


http://salsa.wiredforchange.com/dia/track.jsp?v=2&c=eSISaIbFu7Y14YwGbB3oL4BpuNbMfMEQ


UPDATE: Wednesday afternoon, we learned that BP's tax break will be even bigger than was first reported - an outrageous $13 billion!1 A BP spokesman wouldn't say if the company is paying any U.S. taxes at all this year. It could even be getting a refund. Please take action to hold BP accountable

[Poboy]

1. r'd

[dixiegrrrrl]

2. BP is a British company, I don't see why it would pay US taxes or get a YS tax refund.

And the person who should be feeling the heat about this is our President.

[pokerfan]

3. BP America

BP has operations in over 80 countries, produces around 3.8 million barrels of oil equivalent per day and has 22,400 service stations worldwide. Its largest division is BP America, which is the biggest producer of oil and gas in the United States and is headquartered in Houston, Texas. As at 31 December 2009 it had total proven commercial reserves of 18.3 billion barrels of oil equivalent. (wiki)

[snooper2]

4. GOM isn't an acronym

At least not in the way you are using it.

I am part of a new campaign to stop the unathorized creation of new acronyms. Please cease and desist use of GOM unless you are talking about the media player. :)

[DCKit]

6. Would GoM suit? After all, it's gotta fit the space we've got for the title. nt

[snooper2]

8. Although that would be proper usage (see example VoIP)

still negative- request denied

[truedelphi]

15. Almost irrelevant duiscussion. In a few years, that water will be known

As The Dead Sea Two.

And BP will probably have another fifteen or so tax write offs, government Bailout monies etc.

[Nye Bevan]

5. In general companies get to subtract losses from their income when calculating their tax bill.

And it's not really a "windfall". BP is still worse off than if the spill had not occurred.

[TheKentuckian]

11. That isn't a loss, it is a penalty. They didn't lose shit.

Why the fuck should the American tax payer subsidize more than half of what Obama supposedly got out of them that they won't pay and isn't enough to repair the damage.

If this is the way it works then only nationalizing such industries makes even the most remote amount of sense.

Holy fuck, I'm fucking pissed!

[Horse with no Name]

13. Thank you. It was SUPPOSED to be painful for them

not to be given back somewhere else.

[Lorien]

16. You're not the only one. I'm in Florida, and the Gulf is FAR from being

"clean", yet BP runs ads back to back claiming that it's "better than ever" and that BP has "kept their promises". It makes my blood boil that outright lies like that are even allowed in the media!

[upi402]

7. OFF THE TABLE,,,, LOOKING FORWARD!

"Hey! Look at the shiny thing on TV and anyway this was reported yesterday - old news... move along... nothing to see here" :nuke: :wtf: :puke:

[Uncle Joe]

9. Well Barton's apology wasn't enough, it was the least we could do.

Thanks for the thread, Scuba.

[golddigger]

10. Fuck this shit!

[G_j]

12. ouch!

[sarcasmo]

14. Tax corporations on their profits and no freaking way should BP get that big a tax credit.

[progressoid]

17. Capitalism!! Free Markets!! USA !! USA!! USA!!

:grr::grr::grr::grr::grr::grr::grr::grr:
:grr::grr::grr::grr::grr::grr::grr:
:grr::grr::grr::grr::grr::grr:
:grr::grr::grr::grr::grr:
:grr::grr::grr::grr:
:grr::grr::grr:
:grr::grr:
:grr:

[Autumn]

18. How bout that $20 Billion Obama "squeezed" out of them

what a fucking joke, and it's all on us.

[librechik]

20. yup--as I predicted, they avoid any settlement w individuals or groups

and drag it out as long as possible, hoping litigants get tired or die. Yay free markets!

[Thunderstruck]

19. We keep letting them get away with it. And by "them" I mean...

BP and our government.

It's NEVER going to change.

[indimuse]

21. lovin the *change*....n/t

[Romulox]

22. BP is to Obama as Haliburton was to W. nt

[datan]

23. um

all companies are allowed to carryforward their losses. their losses were so huge that the tax credits look huge.