Keep tax cut for oil

January 31, 2012 • Dear Editor

Dear Editor:

We, the residents and voters of New Mexico, need to stage an “intervention” with our U.S. senators, Jeff Bingaman and Tom Udall.

Why? It’s bad enough that, like President Obama and too many in Congress, they have an out-of-control spending problem. Their solution to the problem is not the obvious one of cutting spending, despite the country’s $15 trillion cumulative debt. [auth] Rather, they want to raise taxes.

Problem is, the American people are against raising taxes directly, especially in the midst of a recession, since most people recognize that raising personal taxes decreases the amount individuals can spend for goods and services and raising business taxes decreases the amount businesses have to expand and create more jobs. So instead of raising tax rates, Obama and many Democrats in Congress want to cut tax credits — specifically, the credit U.S. major oil companies who drill in foreign countries get for the taxes they pay in those countries.

Why in the world would these “leaders” want to put our American companies at more of a competitive disadvantage than they already are compared with the government-owned companies of Russia, China, Iran, etc.?

Bingaman and Udall in typical political fashion are cagey about where they stand on this proposed tax. Try to get a straight answer out of their offices!

Lacking a clear-cut “we oppose this tax,” let’s assume the worst — and let them know they need to change their tune.


Ronald Preston Miles

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