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Is it $1.2 billion in tax breaks in McCain's energy scheme for Exxon Mobil?

http://www.californiaprogressreport.com/2008/08/ca...

The GOP nominee has earned the nickname “Exxon John” for his close ties to Big Oil. Thirty-three former oil and gas lobbyists either work for or raise money for “Exxon John’s” campaign, and his energy scheme includes a jaw dropping $4 billion in tax cuts to the top five oil companies.

Under “Exxon John’s” energy scheme, Exxon Mobile – a corporation that makes $300,000 in the time it takes Californians to fill their gas tanks and recently reported record profits – would receive $1.2 billion in tax breaks.

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  • 1 decade ago
    Favourite answer

    mccain whole campaign are being run by big CEO and oil executive... that is why he is for more drilling bigger tax break for big oil company.... and doesnt care baout hte average middle class...

    vote for obama for change...

    Source(s): vote obama
  • Anonymous
    1 decade ago

    THat 4 billion you speak of applies to all companies across the board, you just choose to single out oil because it hits a soft spot in people. Oil companies have enormous overhead upwards of $100 BILLION+. A 4 billion tax break is not HUGE in an industry dealing with big budgets and big expenses.

    Perhaps you would do well to stop drinking the liberal Kool-aid and go out and get yourself educated on these things.

  • ?
    Lv 4
    5 years ago

    that's not the "maximum worthwhile marketplace" and that they do no longer look to be making checklist earnings margins. Apple pc and Microsoft the two had earnings margins two times the fee of revenue of the oil and gas companies final 3 hundred and sixty 5 days. Google's revenue have been extra advantageous than thrice the fee of the oil and gas marketplace. on a similar time as $4 billion could look as though lots to trouble-free American who make $30K according to annum, it rather is spread out over many oil companies a number of that are trillion dollar firms working international. Proportionately, it would be the equivalent of giving a similar $one thousand tax credit that Obama is offering to voters. you at the instant are not putting the placement into attitude.

  • 1 decade ago

    Your perception and understanding of economics is obvious in your question

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