Don't you hate it when pro corporate types excuse corporations from taxation by blithely pointing out that any taxation on companies just means that they will pass those costs on to consumers so its foolish to tax them.
That's a bad enough analogy but when coupled with the tragedy now unfurling in the Gulf of Mexico I have a real fear that BP will expect that they can 'pass on' the costs of coastal clean up, environmental repair, lawsuits and everything else that is the offspring of this instance of rape and pillage. (Shoving pipes into cracks does fit the definition of one of those charges.)
Now, I'm mostly a lurker here, but I'd like to propose the idea that we discuss legislation directed at corporations (those living things that can't be excluded from impacting elections) in regards to payment of fines to state and federal agencies and the cleanup of toxic and hazardous side effects from industry accidents and neglect.
I think that legislation that applies to corporations, especially those involved in the mining, welling, and refining of natural resources is needed and overdue. Like I said I'm tired of corporation apologists creating an impermiable shield around companies with the notion akin to 'go ahead and tax me, I'll just charge you more later' attitude. So what's wrong with making it a tax law that no state and local fines or damage awards against a corporation be allowed to be written off as an expenditure or business cost, but instead make the money come directly from that company's profits.
There could be a maximum percentage per year taken from any affected company. Say BP made $10B profit last year, then they could only be forced to pay half of their profits against awards until paid in full. And, if it is determined insurance is used to pay for awards, then companies that are paying awards would not be able to write off insurance payments for a period of five years (I pulled that number out of my ass) after the final reconciliation of all fines and awards.
If the cost for this tragic event gets passed on to the country and the world as just more business as usual, then we are no longer the home of the free and the brave. No indeed, we're the home of oily and enslaved.
Any one have an opinion?