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Thread: Senate Attempt To Eliminate Big Oil Subsidies Defeated

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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by xpiher View Post
    Tax Expenditures operate the same as a subsidy.

    Get rid of the all. Let the market sort it out. Am I right?




    You know there is a problem with the tax code when people feel its justified to give companies a break for the cost of operating business. How about the tax code just be re-written to only tax profit instead of total income?
    And you think Corporate America is paid a lot now...wait until they can write off their salaries as a reduction in taxes paid on a balance sheet.

    Look, Capital assets are taxed as a part of business. They go down in value as they age. Amortization is the process of writing them off and its tax deductible to reflect that decrease in value.

    Another factor is if we begin the process of double taxation, companies will simply incorporate in another country. The way that companies have been fleeing high tax states should tell you that much. If you tax a company too much they will change their physical location if at all possible. Oh, and take the jobs with them.

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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by xpiher View Post
    You know there is a problem with the tax code when people feel its justified to give companies a break for the cost of operating business. How about the tax code just be re-written to only tax profit instead of total income?
    That would be fine, but currently people are outraged, because oil companies get to take business tax breaks, that all businesses get to take.
    It's retarded and only shows how ignorant most people are on this subject.

    I guess there's always time to take pot shots at the evil oil companies.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by Sgt Meowenstein View Post
    So 2 billion that normally goes to big oil would help. To argue otherwise just shows how out of touch with reality your average right-wing con is.
    $2 Billion?? I thought the subsidies were almost $20 billion?? They get tax breaks to the tune of $53 billion..

    Oil subsidies defended by GOP and industry

    Or am I missing something??

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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    A different offering from Transition Voice :
    Economic downturn offers the Earth's best chance of survival

    Get some better source material.

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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by Sgt Meowenstein View Post
    In the real world, 52 beats 48; but in bizarro-senate-world, only 60 is a majority. 52 Dems voted to end subsidies, 48 Repubs voted to keep them in place. So, Republicans managed to keep tax payer subsidies in place for their big oil overlords.
    I'm still waiting for someone to show me where oil companies are getting actual, "subsidies", from the government. All I've seen presented, so far, are legitimate tax deductions of operating expenses.

    I can't wait to see them, but I'm sure as hell not going to hold my breath.

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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by Sgt Meowenstein View Post
    Whether or not gas prices would go down upon the elimination of oil subsidies is not the point. Teapublicans argue that everybody has to sacrifice in times like these. They want to cut unemployment benefits, Planned Parenthood funding, NPR funding, etc. They say every little bit helps. So 2 billion that normally goes to big oil would help. To argue otherwise just shows how out of touch with reality your average right-wing con is.
    Just think of all the tax revenue that was lost due to the drilling ban. My business paid 7 g's for 2010. If Obama hadn't cocked things up I might have paid 14. Food for thought.

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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by Badmutha View Post
    So we can all agree.......stop giving money to Big Oil, Big Wind, Big Sun.......and stop seizing 40% of their profits.
    .
    .
    .
    .
    And how about BIG government?
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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Glad to see that this discrimination bill was defeated. If anyone wants to eliminate tax breaks, do it across the board and not on one industry.

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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by LesGovt View Post
    Glad to see that this discrimination bill was defeated. If anyone wants to eliminate tax breaks, do it across the board and not on one industry.
    Also, who makes more money off a gallon of gasoline at the pumps? The oil companies? The Federal Government?

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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by LesGovt View Post
    Also, who makes more money off a gallon of gasoline at the pumps? The oil companies? The Federal Government?
    Was waiting for someone to ask a legitimate question :P

    Estimated Gasoline Price Breakdown & Margins Details

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