Is fight about debt because of racism?
I've been thinking about the current money squabbles in Washington and have come to a rather disturbing conclusion. Raising the debt ceiling has been done about 50 times in the last 50 or 60 years. All of a sudden there is a problem.
Of course, all the other presidents were white. This leads me to wonder if maybe, although it is a painful conclusion, the color of our current president's skin is an unspoken problem. There was never any big fight over money being spent before. Why is there a big fight now? Just wondering.
Curtis F. Lanham
Oil company profits are crippling families
Was the fiscal cliff really just a smokescreen to hide the fact that Big Oil is crippling American families and businesses? After all, if a big fuss is made over the fiscal cliff, nobody's paying attention to anything else.
In 2011, ExxonMobil's profit was $41 billion, Shell's was $31 billion, Chevron's was $27 billion and BP's was $26 billion. Despite generating $546 billion in profits between 2005 and 2010, these four companies reduced their work force by 11,200 employees. Is this what they call job creation?
The oil industry is set to receive $43.6 billion in tax subsidies in the next 10 years. ExxonMobil pays an effective tax rate of 17.6 percent, which is 3 percent less than the average American family pays. So just how do they keep getting all these handouts from the American taxpayer?
Big Oil lobbyists got them a $30 return for every dollar spent on lobbying in D.C. More than $1.6 million was spent on campaign contributions in 2011 from the top four oil companies. More than 90 percent of these contributions when to Republican candidates or GOP committees.
Why can't Congress do something for the people who voted them into office. Oh wait - what was I thinking? - they have been brought and paid for by Big Oil.