Biden Wants To Quadruple The Tax On Big Oil’s Stock Buybacks ...Middle East

Share repurchase taxes should be quadrupled to punish Big Oil for their “outrageous” profits, President Biden said in remarks to this year’s State of the Union address. “You may have noticed that Big Oil just reported record profits. Last year, they made $200 billion in the midst of a global energy crisis,” the U.S. president said. “It’s outrageous.” He then went on to say that instead of using these profits to invest in more oil production and keep fuel prices down, energy companies were using them…

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