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Thread: Democrats propose further tax hike on offshore oil

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    Democrats propose further tax hike on offshore oil

    WASHINGTON – Senate Democrats are moving to quintuple the tax that oil companies pay into an oil spill liability fund.
    The move would raise $15 billion over the coming decade as Congress seeks to shore up the fund in the wake of the catastrophic spill in the Gulf of Mexico. But it's also being used to ease a tax hike passed by the House on investment fund managers.
    The new legislation would raise the tax on oil produced offshore from 8 cents to 41 cents per barrel. That's nine cents higher than legislation that passed the House last month.

    Democrats propose further tax hike on offshore oil - Yahoo! News



    I would agree to this on these conditions. 100% of the funds raised went to disaster preparedness and spill mitigation. Including funding and equipping the 1994 plan.

    This tax however should only be applied to barrels produced on the gulf.

    None of this tax should be used for anything else.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Democrats propose further tax hike on offshore oil

    Quote Originally Posted by Reverend_Hellh0und View Post
    None of this tax should be used for anything else.
    That's right... where's the lockbox?

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    Re: Democrats propose further tax hike on offshore oil

    Quote Originally Posted by Taylor View Post
    That's right... where's the lockbox?



    If there isn't one, no dice.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Democrats propose further tax hike on offshore oil

    Look what they did with social security. Can we trust any of them. **** no.

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    Re: Democrats propose further tax hike on offshore oil

    Quote Originally Posted by Reverend_Hellh0und View Post
    None of this tax should be used for anything else.
    It would be nice, but it's not too likely. I mean, all the tax on tobacco was sold to us as tax to offset the additional costs to the health care system and other systems the tobacco users cause. But it doesn't go for that, and now they try arguing more tax for the same reason. Ideally you have some amount of control over this so you can ensure that the tax gets used only for the purpose it was created for. But you'd need to put in proper oversight and book keeping, and that's most likely not going to happen.
    You know the time is right to take control, we gotta take offense against the status quo

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    Re: Democrats propose further tax hike on offshore oil

    Another stealthly tax to be levied on the citizenry. "never let a crisis go to waste"

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    Re: Democrats propose further tax hike on offshore oil

    Quote Originally Posted by webrockk View Post
    Another stealthly tax to be levied on the citizenry. "never let a crisis go to waste"
    Is it "stealthy" when every single act of congress is public knowledge? I hope the F-22 is sneakier than this.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Democrats propose further tax hike on offshore oil

    Quote Originally Posted by Deuce View Post
    Is it "stealthy" when every single act of congress is public knowledge? I hope the F-22 is sneakier than this.
    I think you are missing the point.... it is a stealthy tax of the citizens as it will be perceived as a tax only on the oil companies. Most people can't connect the dots.
    There is no such thing as a “Natural Born Dual-Citizen“.

    Originally Posted by PogueMoran
    I didnt have to read the article to tell you that you cant read.

  9. #9
    Why so serious?

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    Re: Democrats propose further tax hike on offshore oil

    Quote Originally Posted by Crunch View Post
    I think you are missing the point.... it is a stealthy tax of the citizens as it will be perceived as a tax only on the oil companies. Most people can't connect the dots.
    Exactly. The oil companies will pass any tax increase onto their customers, us. I wish more people understood that using taxes as a way to punish companies really doesn't work.
    "I believe in a Spinoza's God who reveals himself in the harmony of all that exists, but not in a God who concerns himself with the fate and actions of human beings."

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    Re: Democrats propose further tax hike on offshore oil

    Ding ding ding.

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