Soak the Rich: Chevron

Great news, Sherrod Brown enthusiasts! The next corporation in the S&P 500 by market cap is Chevron, another eeeevil oil company. Let’s get right to business filling Washington’s $1.62 trillion budget deficit by making Chevron pay its fair share!

Now Soaking: Chevron Corporation

• CEO John S. Watson’s compensation is listed as $3.43 million. Watson has been a Chevron executive since 1998, so he’s got more than enough money. His $3,430,000 can be put to much better use funding federal make-work programs.
• Chevron’s income statement lists $12.919 billion in corporate income taxes for 2010. Doubling that paltry number will give Sherrod Brown and Barack Obama another $12,919,000,000 for the spending programs that have been such a roaring success since Obama’s historic inauguration.
• Chevron’s new contributions will reduce the 2011 U.S. budget deficit from $1,620,000,000,000 to $1,607,077,570,000.

A capitalist would ask whether raising Chevron’s taxes will, in turn, increase the price of oil & natural gas – and by extension, everything connected to energy & transportation. Stupid capitalist! Why don’t those guys realize big-government leftists like Sherrod Brown have things well in hand so long as free markets – blech! – don’t get in the way? Dramatically raising taxes on Chevron also won’t hurt the people holding Chevron’s 2 billion outstanding shares of stock, nor the corporation’s 62,000 employees.

We, The People who support Sherrod Brown’s fiscal policies, hold these unhinged assumptions to be self-evident.

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Cross-posted at that hero.