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The Democratic Congressional Campaign Committee is gunning for Colorado Freshman Representative Cory Gardner with a bold gas-station advertising campaign that highlights his votes in support of oil industry tax breaks and deregulation, on one side, and his votes to prune Medicare, on the other. Ads will appear atop gas pumps in the Fourth District, capturing constituents as they watch their price-of-purchase climb. The ad text underlines the contrast between individual taxpayers sweating out the economy and the mega-profiting non-tax-paying corporations like Chevron and Exxon that are hiking gas prices in a recession without fear of political response.
Five top U.S. corporations racked up millions in profits last year and paid no federal taxes. They spent money instead on political campaigns and it was money well spent. Over the last decade, Bank of America, Boeing, Chevron, ExxonMobil and General Electric handed out $78.7 million to state political campaigns and $45.3 million to federal campaigns, according to a report released Wednesday by the National Institute for Money in State Politics. In return, the corporations in 2009 won $3.7 billion in tax breaks overall and paid $0 in federal taxes. They enjoyed a combined profit of $77.16 billion in 2010.
As conservatives scream from the rafters about the elimination of a business tax deduction for retiree benefits in the Democrats’ health reform law, The...