Quote:
Originally Posted by pocketkangaroo
In a free market, a Republican administration doesn't bailout Bear Stearns with $30 billion dollars in taxpayer cash. In a free market, Exxon Mobil would be required to follow the same tax rules every other corporation in this country receives.
I'm against the windfall tax, I believe everyone should be treated the same (from the big oil companies to the small laundromat). But lets not act that our economy is even close to a free market. Neither party stands for it and neither party will.
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Bear Stearns was bailed out by the Federal Reserve, not the White House, but otherwise I agree with you. I agree that special tax breaks for certain industries are ridiculous. I would also point out that most of the tax breaks for oil companies relate to the development of "alternative energy" sources like coal bed mathane. They are a perfect example of government meddling in the economy and why it is almost always has negative unintended consequences.