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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 ptif219 View Post
    Make less profit. You fail to back up the double tax accusation.
    wrong-they will do what corporations always do when they have lots of power and populist idiots try to bleed them. They will pass the costs on to people like you, and me



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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by TurtleDude View Post
    some people think that all wealth is rightfully the property of the state and any thing that keeps the government from getting all wealth is a right wing plot
    Lets see a list of those who believe what you claim they believe and their own words which state that.

    I know - asking you for proof of your pontifications is an exercise in futility. Its as if this site was dedicated to debate or something.
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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by TurtleDude View Post
    wrong-they will do what corporations always do when they have lots of power and populist idiots try to bleed them. They will pass the costs on to people like you, and me
    Bleed? Look at their profit. The little bit they get compared to their outragous profit is nuts. What would they have maybe 5% less profit. When talking billions of profit every quarter the millions in subsidies is very minor.

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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by haymarket View Post
    Lets see a list of those who believe what you claim they believe and their own words which state that.

    I know - asking you for proof of your pontifications is an exercise in futility. Its as if this site was dedicated to debate or something.

    I am going to try to stick to the topic-that eliminating "tax breaks" for oil companies is not good for the taxpayers rather than get sidetracked by a couple who try to make me the topic.



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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by ptif219 View Post
    Bleed? Look at their profit. The little bit they get compared to their outragous profit is nuts. What would they have maybe 5% less profit. When talking billions of profit every quarter the millions in subsidies is very minor.
    what do you think the profit margin is for big oil compared to other industries. Look I realize the "downtrodden" love it when some filthy rich dem politician tries to stick it to big oil because you are paying more for gas than you like.

    why is oil singled out? other than to appeal to populist nonsense?



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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by TurtleDude View Post
    some people think that all wealth is rightfully the property of the state and any thing that keeps the government from getting all wealth is a right wing plot
    I know I know... sorry, I forgot... :P
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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by ptif219 View Post
    Make less profit, What will it be 3% maybe 5% less profit? You fail to back up the double tax accusation.
    More like they will charge more at the pump.... this bill is all about removing tax exemptions in place for income made overseas... there are problems in the tax code, especially as they relate to tax havens and this should be addressed, but ACROSS THE BOARD, not against one single industry that the Dems are targeting... get the lawyers in THEIR tax havens as well...
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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by ptif219 View Post
    Make less profit, What will it be 3% maybe 5% less profit? You fail to back up the double tax accusation.

    Exxon Mobil May Suffer in U.S. Tax Plan - Bloomberg

    Future investments by Shell, based in The Hague, and London-based BP wouldn’t be affected by one of the proposals being advanced by Democrats in the U.S. Senate. The bill would change the way that U.S.-based companies such as Exxon Mobil Corp. (XOM), ConocoPhillips and Chevron Corp. (CVX) would receive tax credits for payments to other governments.

    “If these rules were changed and the foreign income for select U.S. oil and gas companies like Exxon Mobil were to be double taxed, our foreign-based competitors and the full range of foreign-government-owned oil companies would gain a significant competitive advantage,” Exxon Mobil Chief Executive Officer Rex Tillerson will tell the Senate Finance Committee today, according to prepared testimony.
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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by TurtleDude View Post
    I am going to try to stick to the topic-that eliminating "tax breaks" for oil companies is not good for the taxpayers rather than get sidetracked by a couple who try to make me the topic.
    Thank you for proving beyond any shadow of a doubt that asking you to back up your own pontifications is indeed an exercise in futility.
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    Re: Senate Attempt To Eliminate Big Oil Subsidies Defeated

    Quote Originally Posted by TurtleDude View Post
    what do you think the profit margin is for big oil compared to other industries. Look I realize the "downtrodden" love it when some filthy rich dem politician tries to stick it to big oil because you are paying more for gas than you like.

    why is oil singled out? other than to appeal to populist nonsense?
    May be because of the obscene profits. Profit increases is much more than their subsidies.

    Exxon and Shell Profits Up, BP Down; Oil Companies Have High Expectation This Earnings Season - ABC News

    Exxon Mobil and Royal Dutch Shell today reported first-quarter profit increases of 69 percent and 30 percent, respectively, from the same period last year. With rising gas and oil prices, analysts expected the five biggest oil companies -- with Exxon as the largest -- to report that they are swimming in revenue.

    Exxon earned $10.7 billion in the first quarter, up from $6.3 billion. Shell announced profit of $6.3 billion in the first quarter this year, up from $4.8 billion.

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