Big Oil Companies Demand "Tax Relief"!

Discussion in 'Current Events' started by Itsthetruth, Mar 24, 2005.

  1. Itsthetruth
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    REFINERIES APPEAL TO COUNTY FOR TAX RELIEF
    Up to $33 million at stake if properties reassessed
    By Peter Felsenfeld

    CONTRA COSTA TIMES
    March 24, 2005

    Despite banner profits, Contra Costa's two largest oil refineries want the county to cut this year's property tax bills by about two-thirds.

    If ChevronTexaco and Shell Oil Products succeed in appealing the annual assessment, the state, county, Martinez, Richmond and two school districts would receive up to $33 million less than what the county billed, according to the Contra Costa Assessor's Office. Additionally, the ConocoPhillips refinery in Rodeo is seeking a $2.1 million reduction, a 23 percent cut.

    The county's gasoline producing giants often contest their property taxes -- as do other companies -- but not to this degree, Contra Costa Assessor Gus Kramer said. "In light of the price of gasoline and their profits, this is obscene," Kramer said. "It's truly shameless."

    The dispute unfolds during a high time for the nation's oil companies. The ChevronTexaco Corp. in 2004 earned more than $13 billion after taxes, a 77 percent increase over 2003, according to company filings. The corporate parents for ConocoPhillips and Shell last year enjoyed 77 percent and 42 percent gains over 2003, respectively.


    http://www.contracostatimes.com/mld...nia/counties/contra_costa_county/11217797.htm
     
  2. dilloduck
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    dilloduck Diamond Member

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    So your mad that they are trying to stop people from stealing so much from them?
     
  3. 5stringJeff
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    5stringJeff Senior Member

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    Those evil oil companies! How dare they try to maximize profits! :rolleyes:
     
  4. Itsthetruth
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    I have a few other real good ideas, besides tax evasion, on how big oil can increase their profits.

    Jack up the price of gasoline to $5.00 a gallon.

    Just refuse to pay any corporate taxes. Period. Not a penny for taxes! Nothing wrong with corporate tax evasion at all.

    Cut the pay of all oil company workers (except executives) to about $6.00 an hour. Oil company tycoons should have their pay increased to about a million bucks an hour. They work very hard.

    Now that's the ticket! What ideas would you like to share on how "we" can increase oil company profits to maybe 50 billion bucks a year? And no taxes!

    If you're an oil company executive let me apologize. I really didn't mean to spoil your scam. If you're a oil company attorney, how much of those unpaid oil company taxes do you expect to pocket if the tax dodge is successful?
     
  5. dilloduck
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    dilloduck Diamond Member

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    Sold all your Texaco stock?? --- dad told ya to get into the oil businesss but you didn't listen???
     
  6. freeandfun1
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    freeandfun1 VIP Member

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    First off, property taxes are not corporate taxes. They are taxes on something you already own. Which is bullshit.

    Now, putting that aside, I bet the disagreement stems from how the county/city is assessing the taxes. More than likely, they are saying the land is worth "y" when in all actuality, it is probably worthy "x" which is much less than "y". The county/city is probably saying this land would sell for millions and billions of dollars if this damn greedy oil company wasn't sitting here. Again, reality - the land is probably so contaminated that nobody would want to build there. So the land really is only worth "y".

    Property taxes are bullshit because rarely do the people have any control over how the government values the property.
     
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  7. dilloduck
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    So true---amazing how they assess property according to how much money they need!
     
  8. Itsthetruth
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    There are all kinds of corporate taxes that corporations pay such as federal taxes, state taxes, property taxes, local business taxes, etc.,

    We can play around with words if you like, however, the big oil corporations consider any tax on their operations to be a corporate tax. The owners aren't being taxed, the CEO's are not being required to pay taxes, it's the corporation, the business being taxed! Do you understand that?

    But, let's get back to the issue. Why do you support tax evasion by big business and do you have any great ideas on how we can increase the meager profits on the nearly bankrupt oil companies.

    I really want to do my share to help the poor starving oil companies and have presented a few great ideas on how we can help them increase their bottom line. Won't you help them out? Perhaps you can send them a check.

    Here's what Ralph Nader said in an exchange with Robert Novak when he hosted CNN's Crossfire on Monday.

    ------------------------------------------------------------------------


    RALPH NADER: All right, oil prices are skyrocketing.

    Over $2 per gallon and closer to $3 per gallon in California. Every penny per gallon per year amounts to $1.5 billion from your consumer pocketbooks to the oil industry.

    Yet, the Bush regime refuses a thorough investigation, especially into the closings and reduction of refinery capacity in this country. Oil men Bush and Cheney also refuse to regulate upward your vehicle's fuel efficiency to levels long achievable by auto engineers and already achieved by Toyota and Honda cars. Wake up, General Motors.

    ROBERT NOVAK: Well, Ralph, you know very well, of course, that the problem is that we haven't been building refinery capacities because of environmentalists like you. And we haven't been drilling in the ANWR, where the -- you're so worried about the fuzzy animals that we don't get oil out of there.

    NADER: Let's add, closing 24 refineries in the last 25 years; 24 refineries in this country, they have closed down. They could build new ones on the same site, no environmental problems.

    NOVAK: Well, they should. They should. But you people have made it very hard. You want everybody to walk around with a cane, instead of ride in a car. You know, we..

    NADER: Do have you the citation for that claim, Bob?

    NOVAK: I don't.

    http://transcripts.cnn.com/TRANSCRIPTS/0503/21/cf.01.html
     
  9. Yurt
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    Yurt Gold Member

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    You need to get some truth dear sir. What is a corporation? Ah, an entity owned by shareholders. Shareholders are the "owners" the corporation. Ergo, the owners are paying the property tax. You can play with words all day long if you want, I will even give you a quarter, however, the reality is a corporation is owned by people. When a corporation pays too much in taxes, the profits are decreased, causing a ripple effect in the corp, namely value. Thus, the owners of that corp are in fact "paying" the tax. You know that corps have to file ficticious names don't you?

    As to whether the corp can offord this, is a socialistic issue. What you are positing is that since they make lots of money, they should pay the taxes willingly, regardless of the legality of the taxes, because, hey, they can afford it and thus wealth is distributed.

    Are you a social person? Do you get out much? Or are you just a socialist?
     
  10. Itsthetruth
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    Congrats! That is the best argument I have read yet in defense of corporate tax evasion! Does it also apply to individuals such as yourself or are you willing to cover corporate tax dodges?

    So I'm looking for more good ideas on how we can "save" the oil companies more money and increase their profits up to a reasonable level ..... say 100 billion or so. Any suggestions on how that great goal might be accomplished .... besides increasing the gas price at the pump?
     

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