put an end to “unwarranted” tax breaks to big oil and gas companies

Discussion in 'Politics' started by froggy, May 6, 2011.

  1. froggy
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    froggy Gold Member

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  2. Meister
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    Meister VIP Member Supporting Member

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    Don't stop with just the oil companies, how about tax subsidies for farmers?
     
  3. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    The time has come to insist on simple taxes. Simple taxes = fair taxes.

    How stupid we must look, spending billion$ every year just to do the fucking paperwork it takes to work in this country.
     
  4. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    Simple = fair.

    Lets move to a tax on consumption. 7 + 7 on 3.
     
  5. Chris
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    Chris Gold Member

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    All we need to do is repeal the Bush tax cuts and raise the top rate by 3%.

    Bush the Lesser created this mess, and Congress and Obama continued it in December.
     
  6. uscitizen
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    uscitizen Senior Member

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    I go for a simple personal income tax. Pure flat % on ALL personal income with no deductions.

    Tax should not promote any lifestyle, etc.
     
  7. Chris
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    Chris Gold Member

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    I would prefer a progressive tax.

    The rich can afford to pay a little bit more.
     
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  8. Contumacious
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    Contumacious Radical Freedom

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    HUH?

    The 16th Amendment has been construed by the powers-that-be as imposing a Marxist style - graduated income tax.

    Happy?.
     
  9. Mr. H.
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    Mr. H. Diamond Member

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    $4 billion/year is a piss in the bucket and you know it. The benefits to the economy far outweigh the government's confiscation of petroleum industry revenues that they propose to place in the pockets of the so-called green economy.

    Liberals see money they want yet can't have bacause of their own ignorance of business acumen.
    I would say "go fuck yourelves" but it's not quite the same as getting fucked by your ugly sister then bing forced to thank her for it.
     
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  10. jeffrockit
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    jeffrockit Senior Member

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    I know that mantra plays well with the wealth envy crowd but here are some facts:

    "Say we wanted to balance the budget by jacking up taxes on Club 250K. That’s a problem: The 2012 deficit is forecast to hit $1.1 trillion under Obama’s budget. (Thanks, Mr. President!) Spread that deficit over all the households in Club 250K and you have to jack up their taxes by an average of $500,000. Which you simply can’t do, since a lot of them don’t have $500,000 in income to seize: Most of them are making $250,000 to $450,000 and paying about half in taxes already. You can squeeze that goose all day, but that’s not going to make it push out a golden egg."
    There Aren



    Myth #6: Raising tax rates is the best way to raise revenue.
    Fact: Tax revenues correlate with economic growth, not tax rates.
    Many of those who desire additional tax revenues regularly call on Congress to raise tax rates, but tax revenues are a function of two variables: tax rates and the tax base. The tax base typically moves in the opposite direction of the tax rate, partially negating the revenue impact of tax rate changes. Accordingly, Chart 4 shows little correlation between tax rates and tax revenues. Since 1952, the highest marginal income tax rate has dropped from 92 percent to 35 percent, and tax revenues have grown in inflation-adjusted terms while remaining constant as a percent of GDP.
    Chart 5 shows the nearly perfect correlation between GDP and tax revenues. Despite major fluctuations in income tax rates, long-term tax revenues have grown at almost exactly the same rate as GDP, remaining between 17 percent and 20 percent of GDP for 46 of the past 50 years. Table 1 shows that the top marginal income tax rate topped 90 percent during the 1950s and that revenues averaged 17.2 percent of GDP. By the 1990s, the top marginal income tax rate averaged just 36 percent, and tax revenues averaged 18.3 percent of GDP. Regardless of the tax rate, tax revenues have almost always come in at approximately 18 percent of GDP.[13]
    Ten Myths About the Bush Tax Cuts | The Heritage Foundation
     

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