US Treasury secretary attacks oil, gas tax breaks
March 5th, 2009 . by Robert
WASHINGTON, March 4 (Reuters) – U.S. oil and natural gas producing companies should not receive federal subsidies in the form of tax breaks because their businesses contribute to global warming, U.S. Treasury Secretary Timothy Geithner told Congress on Wednesday.
While I completely agree that oil and gas companies should not receive subsidies, I further content that no companies should receive a transfer of wealth from the taxpayers in the form of any subsidies. We must ask where the current administration suits got their economic training? How can anyone believe that additional taxes that will be passed on to the consumer will promote a stronger economy? The current administration talks about not raising taxes on the middle class but any additional fees or taxes placed on the producers of items consumed by the American people will drive prices through the roof. We just got some relief from high gas prices and now these socialists in the administration are trying to drive the prices up again with foolish global warming motivated bad policy.
http://in.reuters.com/article/oilRpt/idINN0454844120090304