President Obama called for elimination of corporate tax breaks, at the first debate.
“If we’re serious, we have to take a balanced, responsible approach,” said Obama. “By the way, this is not just when it comes to individual taxes, let’s talk about corporate taxes. Now, I have identified areas where we can right away make a change that I believe would actually help the economy.
“The oil industry gets $4 billion a year in corporate welfare — basically deductions, that those small businesses that Gov. Romney refers to, they don’t get. Now, does anybody think that Exxon-Mobil needs some extra money, when they are making money every time you go to the pump? Why wouldn’t we want to eliminate that? Why wouldn’t we eliminate tax cuts for corporate jets? If you have a corporate jet, you can probably afford to pay full freight, not get a special break.”
