birdog1960 Posted May 18, 2011 Share Posted May 18, 2011 so, it's more of the same. we continue to subsidize oil companies with multi billion dollar annual profits while screaming at the top of our lungs that we need to cut the deficit. how do republicans rationalize this? lets cut back medicaid and medicare aimed at the most vulnerable segments of the population but maintain billions in subsidies to the least needful. well, at least the oil segment is up 2% today in the market. Link to comment Share on other sites More sharing options...
KD in CA Posted May 18, 2011 Share Posted May 18, 2011 What are you blathering about now? Explain exactly what 'tax breaks' you are talking about and how 'Big Oil' is getting something that isn't part of the established, legal tax code that is available for all taxpayers. Link to comment Share on other sites More sharing options...
pBills Posted May 18, 2011 Share Posted May 18, 2011 so, it's more of the same. we continue to subsidize oil companies with multi billion dollar annual profits while screaming at the top of our lungs that we need to cut the deficit. how do republicans rationalize this? lets cut back medicaid and medicare aimed at the most vulnerable segments of the population but maintain billions in subsidies to the least needful. well, at least the oil segment is up 2% today in the market. Keep in mind that these companies PAY taxes in other countries... yet do not here. Link to comment Share on other sites More sharing options...
birdog1960 Posted May 18, 2011 Author Share Posted May 18, 2011 What are you blathering about now? Explain exactly what 'tax breaks' you are talking about and how 'Big Oil' is getting something that isn't part of the established, legal tax code that is available for all taxpayers. it is part of the established legal tax code. that's why they were working on an act of congress to change it. changing bad laws is supposed to be a major part of their job...but the republicans had big oil's back. as if they needed it.... Link to comment Share on other sites More sharing options...
Magox Posted May 18, 2011 Share Posted May 18, 2011 Keep in mind that these companies PAY taxes in other countries... yet do not here. Oh jeez, you are a dumbass. Yes they do pay taxes, dont make me prove it to you cuz I dont feel like providing a link at this time. Having said all that, I do agree that there should be no more oil subsidies. Ok I said it. Link to comment Share on other sites More sharing options...
Joe Miner Posted May 18, 2011 Share Posted May 18, 2011 Oh jeez, you are a dumbass. Yes they do pay taxes, dont make me prove it to you cuz I dont feel like providing a link at this time. Having said all that, I do agree that there should be no more oil subsidies. Ok I said it. Not that I'm a defender of the subsidies, but I wonder what most people think will happen once we eliminate them? Link to comment Share on other sites More sharing options...
DC Tom Posted May 18, 2011 Share Posted May 18, 2011 Not that I'm a defender of the subsidies, but I wonder what most people think will happen once we eliminate them? If the people on this board are a representive sample of the country...most people probably have no idea. Link to comment Share on other sites More sharing options...
Magox Posted May 18, 2011 Share Posted May 18, 2011 Not that I'm a defender of the subsidies, but I wonder what most people think will happen once we eliminate them? I dont know what most people will think, but it wont affect anything. The only reason why they were put in place is because at one point in time they were necessary, what most people seem to forget or probably never knew is that the oil industry bled money for over a decade which is why our oil infrastructure (pipelines and rigs) and refineries has some serious deficiencies because of lack of investment in the prior decade. I can tell you that no one was sympathetic with them then, but now that they are in the right industry and money is flowing out of every orifice, people want to ignorantly blame the oil industry for rising gas prices. Oil prices are gonna remain high for a very long time, there is no more need for these subsidies. The need has run its course. Link to comment Share on other sites More sharing options...
Joe Miner Posted May 18, 2011 Share Posted May 18, 2011 I dont know what most people will think, but it wont affect anything. The only reason why they were put in place is because at one point in time they were necessary, what most people seem to forget or probably never knew is that the oil industry bled money for over a decade which is why our oil infrastructure (pipelines and rigs) and refineries has some serious deficiencies because of lack of investment in the prior decade. I can tell you that no one was sympathetic with them then, but now that they are in the right industry and money is flowing out of every orifice, people want to ignorantly blame the oil industry for rising gas prices. Oil prices are gonna remain high for a very long time, there is no more need for these subsidies. The need has run its course. I don't think it will do anything to lower gas prices. What do you expect the response from the oil companies to be when these subsidies are gone? Link to comment Share on other sites More sharing options...
Dan Posted May 18, 2011 Share Posted May 18, 2011 I don't think it will do anything to lower gas prices. What do you expect the response from the oil companies to be when these subsidies are gone? So why don't we give ALL businesses huge tax breaks so the cost of everything will go down? Link to comment Share on other sites More sharing options...
Joe Miner Posted May 18, 2011 Share Posted May 18, 2011 So why don't we give ALL businesses huge tax breaks so the cost of everything will go down? Please don't spill your verbal diarrhea all over this discussion. Link to comment Share on other sites More sharing options...
Dan Posted May 18, 2011 Share Posted May 18, 2011 Please don't spill your verbal diarrhea all over this discussion. Sorry.. just asked a simple question. If you don't have an answer, a polite, I don't know would have sufficed. Link to comment Share on other sites More sharing options...
erynthered Posted May 18, 2011 Share Posted May 18, 2011 So why don't we give ALL businesses huge tax breaks so the cost of everything will go down? If you tax ALL businesses, who do you think ends up paying that increase? Dont you think those increases get passed along to the consumer? Are you happy with the new credit card legishlation? That fixed everything, right? Go Government!! Yeaah!!! Link to comment Share on other sites More sharing options...
DC Tom Posted May 18, 2011 Share Posted May 18, 2011 Sorry.. just asked a simple question. If you don't have an answer, a polite, I don't know would have sufficed. No, you asked an obnoxious and leading question, and the response you got was both relevant and appropriate. Link to comment Share on other sites More sharing options...
Dan Posted May 18, 2011 Share Posted May 18, 2011 If you tax ALL businesses, who do you think ends up paying that increase? Dont you think those increases get passed along to the consumer? Are you happy with the new credit card legishlation? That fixed everything, right? Go Government!! Yeaah!!! Of course companies pass cost increases, as well as increased taxes, on to the consumer. But why should one set of businesses get breaks and incentives when others don't? No, you asked an obnoxious and leading question, and the response you got was both relevant and appropriate. No, I asked a leading question. It's only considered obnoxious if you don't like where it's leading. People (not just here) are arguing that we should continue to give billion dollar tax breaks to hugely profitable companies; primarily, because that will keep gas prices low. Well, why can't my business get large tax breaks. I'd pass the savings on to my customers. I'm just trying to understand why these few, greatly profitable companies continue to get nice tax breaks amounting to billions of dollars at a time when we're talking about cutting all sorts of programs to save millions of dollars from the budget. If the country is broke and needs to cut spending, I'd suggest we could also stop subsidizing highly profitable companies. Link to comment Share on other sites More sharing options...
erynthered Posted May 18, 2011 Share Posted May 18, 2011 Of course companies pass cost increases, as well as increased taxes, on to the consumer. But why should one set of businesses get breaks and incentives when others don't? Is their business growing? Are they creating more jobs? Are to many taxes hurting the business, where as they might move to a different State or Country? Pleanty of reasons. Answer this one: Why should some businesses get obamahealth care waivers and some dont? Link to comment Share on other sites More sharing options...
Dan Posted May 18, 2011 Share Posted May 18, 2011 Is their business growing? Are they creating more jobs? Are to many taxes hurting the business, where as they might move to a different State or Country? Pleanty of reasons. Answer this one: Why should some businesses get obamahealth care waivers and some dont? Is this more verbal diarrhea getting thrown all over this great thread? I'm confused. (no... i'm joking) I don't pretend to understand this healthcare waiver business. But, I'd guess it's something in the law that allows them to file for waivers; they get reviewed and in some cases granted. If I don't want to pay my employees health care; I can file for a waiver as well (I assume) and hopefully get out of it. However, if I want to get a nice reduction in my taxes, I don't know of any waivers that I can fill out requesting that I not pay all my taxes. In reference to your first set of questions: yes. no. no. But, yes there may be plenty of reasons to give big oil specific tax breaks. I'm not suggesting they pay more. I'm suggesting that we currently have proposals on the table to end all sorts of tax breaks (like mortgage interest); yet we can't touch a break given to these guys? The expression, what's good for the goose is good for the gander comes to mind. Link to comment Share on other sites More sharing options...
birdog1960 Posted May 18, 2011 Author Share Posted May 18, 2011 (edited) Not that I'm a defender of the subsidies, but I wonder what most people think will happen once we eliminate them? it is symbolic just like the loss of the public radio subsidy is. symbolism matters... that and $4 billion per year that we the people borrow every year to give to big oil. as an aside, just saw that dollar tree is cutting into wal mart's market significantly...wow, were in even worse shape than i thought. Edited May 18, 2011 by birdog1960 Link to comment Share on other sites More sharing options...
DaveinElma Posted May 18, 2011 Share Posted May 18, 2011 I'm just trying to understand why these few, greatly profitable companies continue to get nice tax breaks amounting to billions of dollars at a time when we're talking about cutting all sorts of programs to save millions of dollars from the budget. If the country is broke and needs to cut spending, I'd suggest we could also stop subsidizing highly profitable companies. So we should punish the successful to subsidize those who won't help themselves? Link to comment Share on other sites More sharing options...
birdog1960 Posted May 18, 2011 Author Share Posted May 18, 2011 (edited) So we should punish the successful to subsidize those who won't help themselves? huh? not giving $4 billion per year is "punishment"? all other discretionary spending is aimed at those who "won't help themselves"? just so wrong i don't know where to start. Edited May 18, 2011 by birdog1960 Link to comment Share on other sites More sharing options...
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