Posted by: David Kiley on August 6, 2008
About this ad
in which Obama accuses McCain of taking $2 million in contributions from Big Oil and being in favor of a big $4 billion tax giveaway to oil companies, www.factcheck.org says this:
“Obama released a TV spot saying McCain’s campaign got $2 million from “Big Oil” while McCain proposed “another $4 billion in tax breaks” for the industry.
The truth is that McCain’s campaign has received $1.33 million from individuals employed in the oil and gas industry, not $2 million. Obama himself has received nearly $400,000, according to the most authoritative figures available. We find the $2 million figure is based on a mistaken calculation.”
Furthermore, McCain is not proposing new tax breaks specifically targeted to the oil industry. He’s proposing a general reduction in the corporate income tax rate, which Democrats figure would benefit the five largest oil and gas companies by $3.8 billion.
If the candidates were bars of soap or baby powder, the government wouldn’t let them get away with ad claims as far out as the ones they put in ads. Too bad we take soap and babay powder more seriously than the election.