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Politics : Mainstream Politics and Economics
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To: koan who wrote (15335)4/19/2012 12:31:36 AM
From: TimF1 Recommendation   of 85487
 
I am against subsidies to oil companies and tax cuts for the rich and the Republicans support those two things. I don't want to pay for them.

I'm against oil subsidies as well, all energy subsidies for that matter. Lets get rid of all of them. In any case the net subsidy for oil is negative since special targeted taxes on the products of the oil industry bring in more revenue than is lost by tax breaks for the industry, most of which aren't in any way subsidies but rather just the normal business deductions that any business gets. But despite those facts, I could still support eliminating any actual subsidies, or targeted special tax breaks for the oil industry, just not giving them extra taxes, by not letting them qualify for regular deductions that businesses in other industries take.

But you don't pay for either those tax breaks or for lower taxes on the rich. Neither is giving money to them, neither requires a source of money to pay for. The only thing that has to be paid for is spending. Lower taxes on some groups reduce the amount that they pay for the spending (but leaving both the rich and the oil industry paying far more than there share), but isn't something that has to be or can itself be paid for, its reduced income for the government not an expense. Actual subsidies would be something to pay for, but aren't a significant factor here.
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