BP Manages To Turn $20 Billion Fine Into Tax Write-Off

Last week, the Justice Department announced that they would be slapping BP with a $20 billion fine for the 2010 Deepwater Horizon oil rig explosion and oil spill.  But what they didn’t tell the public is that about 99% of that fine will be either written off by the company on their taxes, or reduced from their total tax liability.  This is not justice.

Ring of Fire’s Farron Cousins discusses this.

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