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submitted 1 month ago by fossilesque@mander.xyz to c/196

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[-] KombatWombat@lemmy.world 10 points 1 month ago

[-] lyricanna@ttrpg.network 13 points 1 month ago

Its 1.7 billion in tax exceptions. Given how much politicians love to argue tax deductions and negative tax rates are handouts to normal folks, I'll count those as handouts to oil companies.

[-] Gloomy@mander.xyz 3 points 1 month ago

This is misinformation

[-] pjwestin@lemmy.world 4 points 1 month ago

It says exactly what they claim it does:

Good Jobs First, among other things, serves as a watchdog for government subsidies, and maintains a database of subsidies and tax bonuses awarded to companies. Of note is the page for Royal Dutch Shell...The value presented on the page for RDS is $1.725 Billion...

[-] Gloomy@mander.xyz 2 points 1 month ago

Why stop the quote there?

$1.65 Billion, or 95.7%, comes from a single deal with the state of Pennsylvania for a tax-credit to build a massive petrochemical plant there.

The tax subsidies are a summation of all subsidies since 2003, not per year as the image claims.

The image tries to link federal SNAP benefits to total tax benefits for RDS. Of the $1.725 Billion listed on the page for RDS, total federal tax benefits account for $4.9 Million, or 0.2% of all total tax benefits.