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The Water Cooler
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Oklahoma spends 1/3 of its budget on corporate tax incentives!
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<blockquote data-quote="poopgiggle" data-source="post: 2008440" data-attributes="member: 6406"><p>Chesapeake Energy just stuck out for me because I was already aware of just how many tax gifts they get. </p><p></p><p>The second largest natural gas producer in the US has paid less than $53 million dollars in taxes over its entire corporate history, on profits of $5.5 billion. Their effective tax rate is less than 1%.</p><p></p><p>I'm a Reformed Libertarian (and more fiscally conservative than people here probably suspect) but a tax rate of <em>less than 1%</em> is inexcusable.</p></blockquote><p></p>
[QUOTE="poopgiggle, post: 2008440, member: 6406"] Chesapeake Energy just stuck out for me because I was already aware of just how many tax gifts they get. The second largest natural gas producer in the US has paid less than $53 million dollars in taxes over its entire corporate history, on profits of $5.5 billion. Their effective tax rate is less than 1%. I'm a Reformed Libertarian (and more fiscally conservative than people here probably suspect) but a tax rate of [i]less than 1%[/i] is inexcusable. [/QUOTE]
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Oklahoma spends 1/3 of its budget on corporate tax incentives!
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