A surplus of breaks for business
Re “Democrats drying up oil industry tax breaks,” Jan. 17
It is an outrage that oil companies and many other businesses are given huge special tax breaks and subsidies for conducting exploration and research and development. In a supposedly non-socialistic society, that’s the risk businesses are supposed to take at their own expense because they are the ones that reap the profits.
Small businesses and entrepreneurs do that routinely, and that is why they are the source of most new products and services.
Businesses already have the privilege of deducting every operating expense from their taxable income.
With trillions of dollars in accumulated national debt and hundreds of billions of dollars in new debt being added annually, all of these tax breaks and subsidies to American industry and agriculture need to be ended now.
STUART SINGER
Long Beach
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