Is Glenn Beck loony? Or is he a conscienceless sociopath?
First example, in this first example he identifies with Parson Weems, insisting that George Washington literally never told a lie.
Second example, he insists adamantly that the oil companies do not receive subsidies. This is something both the oil companies and congressional Republicans acknowledge. Beck asks why, if it’s true, the President doesn’t publish it in the newspapers. The answer is that he doesn’t have to. It’s already been published in the newspapers and elsewhere time after time.
NYT Business section:
As Oil Industry Fights a Tax, It Reaps Subsidies
But an examination of the American tax code indicates that oil production is among the most heavily subsidized businesses, with tax breaks available at virtually every stage of the exploration and extraction process.
According to the most recent study by the Congressional Budget Office, released in 2005, capital investments like oil field leases and drilling equipment are taxed at an effective rate of 9 percent, significantly lower than the overall rate of 25 percent for businesses in general and lower than virtually any other industry.
And for many small and midsize oil companies, the tax on capital investments is so low that it is more than eliminated by var-ious credits. These companies’ returns on those investments are often higher after taxes than before.
This from ABC News:
As top executives from the five most profitable oil companies testified on Capitol Hill today, House Speaker John Boehner said that a Senate bill to scrap tax subsidies for Big Oil would not lower gasoline prices at all, but maintained that it is an idea worthy of consideration in the House as part of a broader examination of the corporate tax code later this year.