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Thu Feb 21, 2013, 02:42 PM


Chavez gives oil companies a big tax cut in the middle of fiscal mess


So Venezuela’s legislature today approved the cut in the “special contribution for exceptional international oil prices” or whatever they call it. Windfall tax, in effect. And people wonder, how much do the oil companies save?

I don’t know, since when you save money on one tax you often end up paying more on some other tax. But here’s what the chart looks like on the windfall prices tax, which isn’t a tax but a “special contribution” (meaning it goes right to the presidential slush fund, rather than being shared with state and local governments):

(you need to see the chart at the link)

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Reply Chavez gives oil companies a big tax cut in the middle of fiscal mess (Original post)
naaman fletcher Feb 2013 OP
joshcryer Feb 2013 #1

Response to naaman fletcher (Original post)

Fri Feb 22, 2013, 01:09 AM

1. $200 million to line the pockets of corps.

If this were Obama or something though there would be 500 page OPs about how he's a corporate shill.

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