Monday, May 18, 2020

The swamp gets deeper and more toxic by the day

Now funds supposedly targeted for small businesses are going to oil companies. Robert Reich said about this article:

"Oil companies have claimed more than $1.9 billion in federal relief intended for small businesses, according to a new report. Many of the same companies already pay a fraction in taxes through a host of different loopholes and accounting tricks. For example, Phillips 66 boasted an effective tax rate of just 2 percent in the first quarter. One company even used federal tax write-offs under the coronavirus stimulus package to secure bonuses for top executives. Meanwhile, Senate Republicans complain that bailing out working families will make them lazy. The GOP's double standard when it comes to corporate welfare is a cruel joke on the American people."

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