david duncan
Jul 22, 2017 · 2 min read

you throw around “$4 billion as a rounding error,” which even if the subsides for one year was only $4 Billion that is still a lot of money for a government that is cutting services like meals on wheels.

You seem to have missed the fact that the US government spends over $100 Billion PER DAY. That means an annual expenditure of $4 billion is a rounding error. But as I said, that was Obama’s number, and it’s wrong. There are no subsidies for fossil fuel companies.

Meals on Wheels receives most of its funding from individual donations. Don’t fret. It’s not going away. And, there is no credible accounting of the money that’s spent by the program, so don’t get worked up about something that looks like a lot of nothing.

the Exxon profit was my fault it was $40.6B not sure why the figure I entered was wrong, but it was and I am sorry about that.

I don’t know where you get your numbers. I gave you the revenue, income and tax figures for 2016, 2015 and 2014.

In 2013 revenue was $438 billion. Net income was $33 billion and corporate income taxes were $24 billion.

In 2012, revenue was $480 billion, net income was $45 billion and corporate income taxes were $31 billion.

In 2011, revenue was $486 billion, net income was $41 billion and corporate income taxes were $31 billion.

But in any case the government is using tax payer money that is making oil companies more money, you can say it should and that is good for the country if you want, you can say it has given subsidies to other industries, and maybe some day it will give solar the same subsidies that it gives oil and coal.

The solar and wind industries receive MASSIVE subsidies. Google it for yourself. If you were a homeowner and you wanted to power your house with solar energy, you are given a federal tax CREDIT. That means you can reduce your taxes by 30 percent of the cost of the solar purchase. If you spend $10,000 on solar panels, you can deduct $3,000 from your taxes. In other words, if your federal tax bill was $5,000, you would subtract the $3,000 from the $5,000 and pay the IRS $2,000. That is an insanely generous deal. A giveaway.

Each state also offers an additional tax credit.

    david duncan

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