Originally Posted by traderumor
Tax break? The numbers I provided were based on about a 40% tax rate, and that's just for the Feds. I don't imagine you would want your personal income to be paid at that rate, would you?
I'm talking about the tax breaks provided in the Energy Policy which was just enacted.
And regarding the 40% rate, no *I* wouldn't want to be taxed at that rate because I don't make nearly enough to justify it. Those who take in a larger amount of wealth have historically been responsible for sharing a higher load of the tax burden. It's why people inheriting a huge estate are taxed at a much higher rate. I just don't see why an oil company raking in these types of profits requires a tax break--what, so they can have MORE profits? I simply don't get it.