Tuesday, July 27, 2010

BP Punks Obama

Remember that $20 billion escrow fund for oil spill victims in the Gulf that Obama pretty much forced BP to open? Well, being the relatively smart business folks they are who hire relatively smart tax attorneys and accountants, BP is planning on writing off as a cost about $10 billion of that fund on their U.S. taxes. Why is this significant, you ask? Because you and I are going to end up indirectly paying for half of that $20 billion that is sitting in escrow. Thanks a lot, Barry!

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