The Spark

the Voice of
The Communist League of Revolutionary Workers–Internationalist

“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx

Cashing in on Tax Breaks from Oil Spill

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.