Climate Quote by Jane Mayer
““As early as 1913, the oil industry used its clout to win a special tax loophole, the “oil depletion allowance.” On the theory that oil exploration was risky and costly, it enabled the industry to deduct so much income when it hit gushers that many oil companies evaded income taxes altogether. After the loophole was scandalously enlarged in 1926, liberals, stymied by the oil patch’s defenders in Congress, tried unsuccessfully for five decades before they were finally able to close it. No””
About This Quote
Source Book: Dark Money (Investigative Journalism), 2016
Mayer details how oil companies exploited tax loopholes, influencing policy for decades, highlighting corporate power over taxation.
In simple terms: Oil firms used tax tricks to avoid paying, shaping policy for years.
Key Takeaway
Advocate for transparent, fair tax laws.
Themes
economics
environment
law
corruption
Mood
analytical
concerned
Type
investigative
policy
When to use this quote
- policy reform
- public advocacy
- environmental activism
Key Concepts
tax policy
corporate lobbying
regulatory capture
Questions to Reflect On
- What reforms could close similar loopholes today?
- How can citizens hold corporations accountable?
A Different Perspective
Corporate influence can be entrenched and resistant to change.
![“A [tax loophole is] something that benefits the other guy. If it benefits you, it is tax reform.” quote by Russell B. Long](https://sms4smile.com/quotes/img-quotes/530/russell-b-long-45362_benefits_a-tax-loophole-is-something-that-benefit_2457776.jpg)
![“Americans for Prosperity annoyed some of the Tea Partiers,” recalls the libertarian blogger Ralph Benko. “These people drove up, opened the door, put T-shirts on them, then took pictures and sent them to Charles [Koch] saying, ‘See? We’re doing great things with your money.” quote by Jane Mayer](https://sms4smile.com/quotes/img-quotes/08d/jane-mayer-1031_libertarian_americans-for-prosperity-annoyed-some-of_21572.jpg)
![“One of the oddities of this election is the man that [Donald] Trump chose as his vice-president, Mike Pence, is one of the Kochs' favourite politicians.” quote by Jane Mayer](https://sms4smile.com/quotes/img-quotes/dff/jane-mayer-1031_election_one-of-the-oddities-of-this-election-is_93991.jpg)
![“[The Kochs] they hate big government.” quote by Jane Mayer](https://sms4smile.com/quotes/img-quotes/758/jane-mayer-1031_big-government_the-kochs-they-hate-big-government-21587_215871.jpg)
