Rep. Joe Barton (R-TX): Without Tax Subsidies, Exxon-Mobil Would Go "Out of Business"

Original Link: http://slog.thestranger.com/slog/archives/2011/03/10/rep-joe-barton-r-tx-without-tax-subsidies-exxon-mobile-would-go-out-of-business

If you don't want your head to explode, absolutely don't watch this video of Rep. Joe Barton (R-TX) defending federal tax subsidies for Exxon-Mobil, by arguing that without them "they'll go out of business."

Exxon-Mobil. The largest publicly traded company in the world. Raked in over $30 billion in profits last year. Will. Go. Out. Of. Business. Unless, US taxpayers lavish it with billions in tax credits and subsidies. $45 billion worth, over the next decade. Really.

Also a potential risk factor for spontaneous cranial detonation? Rep. Barton's insistence that federal tax subsidies should be maintained "so long as you believe in the free market capitalist system." Because nothing exemplifies free market capitalism better than federal tax subsidies.

BOOM!