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Senate Attempt To Eliminate Big Oil Subsidies Defeated

ptif219 said:
Make less profit. You fail to back up the double tax accusation.
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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
 
TurtleDude said:
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
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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.
 
TurtleDude said:
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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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.
 
haymarket said:
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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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.
 
ptif219 said:
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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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?
 
ptif219 said:
Make less profit, What will it be 3% maybe 5% less profit? You fail to back up the double tax accusation.
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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...
 
ptif219 said:
Make less profit, What will it be 3% maybe 5% less profit? You fail to back up the double tax accusation.
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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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TurtleDude said:
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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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.
 
TurtleDude said:
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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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.
 
ptif219 said:
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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Then why not go after Wal-Mart and it's obsene profits???
 
ptif219 said:
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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what was the profit margin for the oil companies

do you understand the difference between profit margin and profits and its profit margins that you should whine about
 
ludahai said:
Then why not go after Wal-Mart and it's obsene profits???
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It is not about profits. It is about tax money give aways. If Wal Mart gets subsidies than stop those too. As I said stop all tax money give aways. Subsidies all subsidies and stop funding organizations like PBS,NPR,Planned Parenthood ETC.
 
ptif219 said:
It is not about profits. It is about tax money give aways. If Wal Mart gets subsidies than stop those too. As I said stop all tax money give aways. Subsidies all subsidies and stop funding organizations like PBS,NPR,Planned Parenthood ETC.
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if you pay taxes in the city in which you reside and they give you a credit for the income taxes you pay in the city you work in is that a subsidy? or is it merely treating you the same as if you live and work in the same city?
 
TurtleDude said:
what was the profit margin for the oil companies

do you understand the difference between profit margin and profits and its profit margins that you should whine about
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Why do profit margins matter when they are making billions every 3 months in profits. The few millions they get in subsidies should mean little to them.
 
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ptif219 said:
Whay do profit margins matter when they are making billions every 3 months in profits. The few millions they get in subsidies should mean little to them.
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again do you understand the difference

where do you think those profits go? (other than to lots of governments)
 
TurtleDude said:
if you pay taxes in the city in which you reside and they give you a credit for the income taxes you pay in the city you work in is that a subsidy? or is it merely treating you the same as if you live and work in the same city?
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Nice spin but I am not making Billions a quarter and complaining it is not enough I need subsidies besides. That to me is pure greed and they are showing what assholes they are and they do not care if people can not afford their over priced products.
 
TurtleDude said:
again do you understand the difference

where do you think those profits go? (other than to lots of governments)
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Profits go to CEO's and stockholders. The rich never seem to have a limit on how much money is enough.
 
ptif219 said:
Profits go to CEO's and stockholders. The rich never seem to have a limit on how much money is enough.
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so your solution-as a conservative-is to take that money away from the stockholders (which includes PENSION PLANS, 401K plans etc, Union retirement plans, etc) and give it to the GOVERNMENT.

wow that is some stunning logic on your part

and if you think that will reduce a CEO's salary you prove you know even less about that subject than you understand corporate taxes
 
ptif219 said:
Nice spin but I am not making Billions a quarter and complaining it is not enough I need subsidies besides. That to me is pure greed and they are showing what assholes they are and they do not care if people can not afford their over priced products.
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of course the government demanding companies pay double taxes is not greed and demonizing big oil and singling them out for such nonsense is not greed or pandering to people like you?
 
TurtleDude said:
so your solution-as a conservative-is to take that money away from the stockholders (which includes PENSION PLANS, 401K plans etc, Union retirement plans, etc) and give it to the GOVERNMENT.

wow that is some stunning logic on your part

and if you think that will reduce a CEO's salary you prove you know even less about that subject than you understand corporate taxes
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These are obscene profits Exxon of course says it is speculaters fault. So why do they not ignore speculaters and charge according to the profit they need?

ExxonMobil CEO Says Oil Price Should Be $60 To $70 A Barrel - Robert Lenzner - StreetTalk - Forbes

Rex Tillerson, the boss of ExxonMobil admitted last week that the price of oil–based purely on supply and demand- should be in the $60 to $70 a barrel range. The reason it’s above $100 a barrel, Tillerson explained, is due to the oil majors using futures contracts to lock in current high prices, and speculation that is engineered by the high-frequency trading of quantitative hedge funds.

That was just one of the stunning revelations made during the Senate hearing on tax subsidies to the oil industry– which featured the 6 most powerful CEOs– BP, Shell, Chevron, Conoco-Phillips and Exxon-Mobil– all sitting like ducks in a row giving the stiff-arm to pressing unfriendly inquiries from a host of Democratic Senators.
 
ptif219 said:
It is not about profits. It is about tax money give aways. If Wal Mart gets subsidies than stop those too. As I said stop all tax money give aways. Subsidies all subsidies and stop funding organizations like PBS,NPR,Planned Parenthood ETC.
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What "subsidy" is "big oil" receiving other than the same tax break everyone else gets on FOREIGN profits... I do not pay U.S. tax on my Taiwan-earned income... This is what we are talking about here... the Dems in the Senate now want to tax foreign earned income ONLY for oil companies...
 
TurtleDude said:
of course the government demanding companies pay double taxes is not greed and demonizing big oil and singling them out for such nonsense is not greed or pandering to people like you?
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So take the government to court. If it is not fair the huge big oil lobbyist should be able to get unfair tax laws changed. This sonds like either some one is lying or the government needs to change tax laws.
 
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