not every expense is fully deductible, so just because they spent money on it does not mean they should benefit by reducing their taxable income by that amount.
well after the one extorted 20 billion out of them it only seems fair they get to take a break. oooh.....evil oil. good grief.
they lost 30 billion on their stock value and paid 20 billion in costs as ordered by the government. 10 billion is a fraction of their losses on the deal. the stock rebound for those that invested low will also bring in a big share to the government. tax advice 101, what is the big deal?
So no one is clamoring for the tax loophole to be fixed? It's just good accounting on one of the larger man-made disasters in recent history?
at this rate, we will have no incentive to not invest anymore. imagine if i didnt get to deduct my stock losses from my stock gains. what would be the point?
It's ridiculous that there's any question about this. They had substantial business expenses because of the spill and those expenses reduced the profit earned on their business. If you make less profit, you pay less tax.
