Senate filibusters taking money from oil companies and using it to build more exploding cars
Well, the temperature has dropped, and with it, my mood.
Just kidding. It’s Friday, so the work week can suck it. Plus, how could I possibly complain after three days of Obamacare oral arguments at the Supreme Court? Just listening to the confused responses of those who previously told me the case was a slam dunk was enough to get me through the week. Don’t get too excited though; just because the Justices’ questions exposed the absurdity of the mandate doesn’t mean they’ll vote that way. After all, the Court found a constitutional right to abortion somewhere. But I’m not here to talk about that.
I’m here to talk about the the Senate bill to end oil subsidies. It failed due to the filibuster rule, which requires a two-thirds majority to pass something. Barry, of course, was not pleased:
‘They can either vote to spend billions of dollars more in oil subsidies that keep us trapped in the past. Or they can vote to end these taxpayer subsidies that aren’t needed to boost oil production so that we can invest in the future,’ Obama said. ‘It’s that simple.’
‘It’s like hitting the American people twice,’ Obama said in a Rose Garden speech on Thursday morning. ‘You’re already paying a premium at the pump right now. And on top of that, Congress thinks it’s a good idea to send billions more of your tax dollars to the oil industry?’
Two things about this. First, the American people aren’t being hit twice, because we’re not talking about actual “subsidies.” In other words, the government isn’t taking my tax dollars and sending them to Chevron. Instead, our tax code gives oil companies tax breaks, which simply allows them to keep more of their own money. Thus, B.O.’s statement is blatantly untrue.
With that being said, why are we giving tax breaks to oil companies? I agree with the president in this respect. In fact, why are we giving them to any industry? Why does the government have pet projects? Why don’t we just lower taxes overall and get rid of subsidies/tax break for every industry? This leads me to point number two. What does Barry want to do with the extra money the government gets if the bill is passed? Pay down the debt? Send me a check? Wallpaper the White House? No. Of course not. He would use it to “invest in the future.”
The bill would have killed several tax breaks taken by the five largest oil companies and use some of the proceeds to extend expiring energy tax provisions, such as tax breaks for renewable energy, electric cars and energy efficient homes.
That’s right. He’d turn them into tax breaks for other industries. And not just any other industries, but industries that don’t work and that nobody wants. And as an aside, renewables are already the Belles of the Ball in terms of tax breaks. Need proof? Here’s some info from the Congressional Budget Office; complete with a picture which everybody likes.
So, what have we learned? We have further confirmation that Obama’s a liar (which, to be fair, every politician is). We’ve also learned that removing tax breaks is hard. The Republicans didn’t just reject the bill because of the give-away to renewables, or because they’re in the pocket of big oil (which everyone in Congress is). We’re already paying through the nose for gasoline, and increasing the costs on oil companies certainly won’t help prices go down.
Well, that’s it. I’m going to listen to some more audio from the Obamacare hearings, and dream of days where the Supreme Court actually enforces the Constitution.