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Senate Attempt To Eliminate Big Oil Subsidies Defeated

Sgt Meowenstein

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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.

eNewsUSA

6:50 PM: The Senate vote on S.940 to eliminate big oil tax subsidies was defeated on a vote of 52-48. 60 votes were necessary to move the item forward.
 
I just heard too sad! Also I got the impression thast some of the pubs did not like voting for the big oily guys. Is there a hostage situation here? Hmmmn could be we must not let Obama look like a winner of anything. Destroy Obama at any cost.
 
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I just heard too sad! Also I got the impression thast some of the pubs did not like voting for the big oily guys. Is there a hostage situation here? Hmmmn could be we must not let Obama look like a winner of anything. Destroy Obama at any cost.

The "Party of NO!" rocks on.

What a lovely ad campaign this and Paul Ryan's plan to end medicare will make. Oh and I should mention Newt's big moment on MTP.
 
So we can all agree.......stop giving money to Big Oil, Big Wind, Big Sun.......and stop seizing 40% of their profits.
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So we can all agree.......stop giving money to Big Oil, Big Wind, Big Sun.......and stop seizing 40% of their profits.
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Don't you get it? Not seizing their property is a subsidy.

Does anyone think that increasing taxes on any company is going to bring down the price of anything?
 
So we can all agree.......stop giving money to Big Oil, Big Wind, Big Sun.......and stop seizing 40% of their profits.
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the socialist left, the anti corporate luddites and the populist appealing scum like to demonize big oil

tell me (if anyone fits in the above categories)

If Exxon makes a billion in profits all over the world and all over the world Exxon is taxed by various entities proportionate to its profits in those entities' jurisdictions, why should the USA be entitled to a tax covering its entire amount of profit?

Yet the dems whine that giving Exxon a tax credit for say 10 million in taxes paid in GB is a "subsidy"

do these clowns understand how much exxon pays in taxes and how many people they employ?
 
the socialist left, the anti corporate luddites and the populist appealing scum like to demonize big oil

tell me (if anyone fits in the above categories)

If Exxon makes a billion in profits all over the world and all over the world Exxon is taxed by various entities proportionate to its profits in those entities' jurisdictions, why should the USA be entitled to a tax covering its entire amount of profit?

Yet the dems whine that giving Exxon a tax credit for say 10 million in taxes paid in GB is a "subsidy"

do these clowns understand how much exxon pays in taxes and how many people they employ?

Oh no. Poor Exxon. All of those taxes. All of those taxes not paid to the IRS that is.

ThinkProgress » ExxonMobil paid no federal income tax in 2009. (Updated)

Last week, Forbes magazine published what the top U.S. corporations paid in taxes last year. “Most egregious,” Forbes notes, is General Electric, which “generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion.” Big Oil giant Exxon Mobil, which last year reported a record $45.2 billion profit, paid the most taxes of any corporation, but none of it went to the IRS:

Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas.
 
So we can all agree.......stop giving money to Big Oil, Big Wind, Big Sun.......and stop seizing 40% of their profits.
.
.
.
.

Big sun, big wind? There is no such thing. Subsidies should be for newer, lesser industries for R&D and what not. Big oil does not need subsidies. Big oil makes big profits and hands out big bonuses. They don't need my money. Alternative energy companies, struggling to get a foot in the market, do need my money. And I'm happy to give it to them.
 
Big sun, big wind? There is no such thing. Subsidies should be for newer, lesser industries for R&D and what not. Big oil does not need subsidies. Big oil makes big profits and hands out big bonuses. They don't need my money. Alternative energy companies, struggling to get a foot in the market, do need my money. And I'm happy to give it to them.

edify us about your financial might
 
Don't you get it? Not seizing their property is a subsidy.

Does anyone think that increasing taxes on any company is going to bring down the price of anything?

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.
 
edify us about your financial might

I'm in awe of your vast intelligence. Please, enlighten me some more with your assbackwards...ah never mind. Just keep ignoring valid points and responding with ignorant drivel.
 
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.

what is really amusing is watching reactionary luddite nonsense that ignores what will happen to the price of gasoline if Exxon has to pay double taxes on profits
 
I'm in awe of your vast intelligence. Please, enlighten me some more with your assbackwards...ah never mind. Just keep ignoring valid points and responding with ignorant drivel.

I want to know if you actually have a clue what you are talking about
 
envy is not a sound basis for tax policy

I don't envy them and I don't envy you. You know what else is not a sound tax policy? Letting multi-billion dollar corporations get away with paying zero taxes, and then giving them tax-payer subsidies on top of it.
 
Why, would you like some advice? You obviously have no ****ing clue.

really? so you are an expert on how oil companies operate? you understand foreign tax policy?

I am waiting to hear your credentials
 
I don't envy them and I don't envy you. You know what else is not a sound tax policy? Letting multi-billion dollar corporations get away with paying zero taxes, and then giving them tax-payer subsidies on top of it.


zero taxes? LOL
 
really? so you are an expert on how oil companies operate? you understand foreign tax policy?

I am waiting to hear your credentials

Credentials? Now I need credentials to have an opinion on my tax dollars going to multi-billion dollar, extremely profitable corporations? Other than being a loyal con, what are your credentials?
 
zero taxes? LOL

Do try to keep up.

What The Top U.S. Companies Pay In Taxes - Forbes.com

Exxon tries to limit the tax pain with the help of 20 wholly owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) shelter the cash flow from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No wonder that of $15 billion in income taxes last year, Exxon paid none of it to Uncle Sam, and has tens of billions in earnings permanently reinvested overseas.
 
Do try to keep up.

Looks like I have a live one here

libs constantly claim that even if voters don't pay income taxes they pay all sorts of other taxes

understand the point

and I sort of doubt you have much of anything going to these oil companies

how many salaries is income tax paid on
I see 15 billion paid in taxes

Millions of americans pay nothing in income taxes-do you whine about them? and they are not creating jobs, paying salaries etc
 
Big sun, big wind? There is no such thing. Subsidies should be for newer, lesser industries for R&D and what not. Big oil does not need subsidies. Big oil makes big profits and hands out big bonuses. They don't need my money. Alternative energy companies, struggling to get a foot in the market, do need my money. And I'm happy to give it to them.


Wrong all subsidies should be gone and let the free market work.
 
Credentials? Now I need credentials to have an opinion on my tax dollars going to multi-billion dollar, extremely profitable corporations? Other than being a loyal con, what are your credentials?

a loyal con-I guess all those years I worked for PP sort of crushes that bit of nonsense.

WE can start with the fact that I am a partner in an investment holding company that has a rather fair amount invested in energy. On top of degrees in Law and Industrial Labor relations.

your turn
 
Do try to keep up.

I thought you were talking about Obama and GE
JC-hysterical.gif
 
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