Jul 19, 2010
BP announced the company’s Gulf Oil spill expenses are tax deductible. By deducting these costs, BP says it expects that it will be able to cut its taxes in the U.S. and Great Britain by 10 billion dollars.
So much for the politicians’ hot air about how they were going to force BP to pay all the costs of the spill, and the clean-up, and to reimburse peoples’ losses.
In reality, the government provides the tax breaks and subsidies that allow a huge oil company like BP to shift the entire cost of the oil spill onto the shoulders of the taxpayers – that is, the working class.