Some actions of the big oil and gas companies have been getting some attention of late. We all have to pay our due in taxes, so the question is why do the oil and gas companies think they don’t? Over the past few years it has come into light that these companies have been receiving subsidies. The numbers are staggering, given the amount of money they take in yearly verses the amount they actually pay in their taxes. In fact, these companies ended up paying around $32 million in taxes, when, given the 35% corporate income tax rate, they should have paid around $60 billion!
It is interesting to know that the rest of tax payers continue to pay and do what we have to do, and yet these big companies do not. They have found ways to avoid having to pay what is due. Getting subsidies, and working their way around the government. I believe this should grab the attention of our government and show them it is not right they take so much, and give less back. There is no reason they should be allowed to take advantage in such a way to make the rest of us pay.