Freeman

IN BRIEF

Oil Tax Breaks Survive Senate Vote

MAY 18, 2011

“The Senate on Tuesday blocked a Democratic proposal to strip the five leading oil companies of tax breaks that backers of the measure said were unfairly padding industry profits while consumers were struggling with high gas prices.” (New York Times)

Discretion in the hands of politicians is dangerous.

FEE Timely Classic
“Tax Breaks Aren’t Subsidies” by Sheldon Richman

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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