Green Building Community
MassPIRG Petition: Say No to BP Tax Deductions on Oil Spill Payments!
Posted by: Allison Friedman // Rate It Green Admin
BP Oil Company must pay $18.7 billion in damages as a result of gross negligence in the Deepwater Horizon disaster, but there are indications that only $5.5 billion of that settlement will be non-tax deductible. About 80% of payment made to date qualified for tax deductions, effectively shifting the cost of BP's negligence onto taxpayers.
These write offs diminish the value of settlements as a deterrent to future misbehavior. They are also costly for the public because taxpayers must make up for the lost revenue through cuts to public programs, higher tax rates, or more federal debt.
It's time to demand an end to holding tax-payers accountable for corporate misconduct: no more write-offs for corporate wrong doing.
To sign: http://bit.ly/1CTGOL7
Please be kind and respectful!
Please make sure to be respectful of the organizations and companies, and other Rate It Green members that make up our community. We welcome praise and advice and even criticism but all posted content and ratings should be constructive in nature. For guidance on what constitutes suitable content on the Rate It Green site, please refer to the User Agreement and Site Rules.
The opinions, comments, ratings and all content posted by member on the Rate It Green website are the comments and opinions of the individual members who posts them only and do not necessarily reflect the views or policies or policies of Rate It Green. Rate It Green Team Members will monitor posted content for unsuitable content, but we also ask for the participation of community members in helping to keep the site a comfortable and open public forum of ideas. Please email all questions and concerns to admin@rateitgreen.com