Senator Sherrod Brown (D-OH) and President Obama know that filling the $1.62 trillion U.S. budget deficit for Fiscal 2011 means forcing big corporations to pay their fair share. As a white-guilt-ridden private industry lackey, the least I can do is help with the calculations!
President Obama may be hedging on the EPA’s righteous destruction of American polluters, but that doesn’t mean dirty corporations are off the hook. Sure, we’ve already soaked Exxon and Chevron, but the ill-gotten gains of a few more polluting fat-cats will cover the nation’s budget deficit!
Now Soaking: ConocoPhillips
- Reuters lists ConocoPhillips CEO James Mulva’s compensation as $17,932,900. Mulva has been a ConocoPhillips executive since 1994, years before the merger of Conoco Inc. and Phillips Petroleum, so he’s got enough money. His $17,932,900 will be much better spent by Sherrod Brown and Barack Obama!
- ConocoPhillips’s 2010 income statement lists $8,333,000,000 in corporate income taxes. We’ll double that amount to fund the spend-a-riffic Obama/Brown rebound!
- Doubling ConocoPhillips’s corporate income tax and taking their CEO’s pay will reduce the 2011 U.S. budget deficit by 0.518%.
None of ConocoPhillips’s 29,900 employees will lose their jobs if Sherrod Brown and Barack Obama work their not-at-all-socialist magic. The only funds & individuals holding ConocoPhillips’s 1.37 billion outstanding shares of stock who suffer will be the ones who deserve to.
Don’t worry: this punitive tax policy won’t increase the cost of travel, heating, shipping, or plastics!
We, The People who support Sherrod Brown’s fiscal policies, hold these leftist conceits to be self-evident.