Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: i-node who wrote (138738)	8/10/2001 7:38:00 PM
From: tejek	Read Replies (1) of 1575173

The full worth of the bill in lost tax revenue over 5 years was estimated in the press at $50Bs, with $23+ of it going to oil, gas and coal. I keep seeing references to this, but I'm wondering where the story is? I see your cite to the bill, but that's pretty meaningless information unless you have a couple hundred hours to digest it. They way you described it, it sounds like Earned Income Credit for Oil & Gas Companies. A $23B giveaway to those bad, bad corporations. I've seen no evidence of the $23B yet, but even then, I'm guessing it is tax relief NOT a handout. That's the story....companies making ROE's of 30%/40% are going to get tax credits for doing what they do. I know its not much but its the best we could do...we just aren't as smart as you are.

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