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

[Too Tall]

Obama cites Boehner on oil tax breaks - Washington Times


they should have cut them out years ago, wait Bush/ Bin Ladan oil company was in charge of america.

Perhaps you will tell me what 'subsidies' the oil companies get.

 

[froggy]

Obama cites Boehner on oil tax breaks - Washington Times


they should have cut them out years ago, wait Bush/ Bin Ladan oil company was in charge of america.

Perhaps you will tell me what 'subsidies' the oil companies get.

Obama: Amid Oil Company Profits, Taxpayer Subsidies 'Not Right' - Political Punch



When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right," he said. "They aren’t smart. And we need to end them.”

 

[Mr. H.]

Obama cites Boehner on oil tax breaks - Washington Times


they should have cut them out years ago, wait Bush/ Bin Ladan oil company was in charge of america.

Perhaps you will tell me what 'subsidies' the oil companies get.

Obama: Amid Oil Company Profits, Taxpayer Subsidies 'Not Right' - Political Punch



When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right," he said. "They aren’t smart. And we need to end them.”

They are neither subsidies nor giveaways. And I too am curious - tell us what the oil companies get that is so unwarranted.

 

[Quantum Windbag]

Obama cites Boehner on oil tax breaks - Washington Times


they should have cut them out years ago, wait Bush/ Bin Ladan oil company was in charge of america.

Perhaps you will tell me what 'subsidies' the oil companies get.

Obama: Amid Oil Company Profits, Taxpayer Subsidies 'Not Right' - Political Punch



When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right," he said. "They aren’t smart. And we need to end them.”

If you don't have an answer just say so.

 

[Too Tall]

Obama cites Boehner on oil tax breaks - Washington Times


they should have cut them out years ago, wait Bush/ Bin Ladan oil company was in charge of america.

Perhaps you will tell me what 'subsidies' the oil companies get.

Obama: Amid Oil Company Profits, Taxpayer Subsidies 'Not Right' - Political Punch

When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right," he said. "They aren’t smart. And we need to end them.”

What 'subsidies' do the oil companies get that other businesses don't get? You don't have a clue do you?

 

[froggy]

Perhaps you will tell me what 'subsidies' the oil companies get.

Obama: Amid Oil Company Profits, Taxpayer Subsidies 'Not Right' - Political Punch

When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right," he said. "They aren’t smart. And we need to end them.”

What 'subsidies' do the oil companies get that other businesses don't get? You don't have a clue do you?

What other business makes that enormous profit in just 3 or 4 months?

 

[froggy]

exxonmobile reports a profit of 10.7 billion 69% higher than last year.

 

[froggy]

Agricultural Subsidies should be the next to go. if they get one cut then the other will follow stop giving the tax dollar away an the average taxpayer can keep some for his needs.

 

[Quantum Windbag]

Obama: Amid Oil Company Profits, Taxpayer Subsidies 'Not Right' - Political Punch

When oil companies are making huge profits and you’re struggling at the pump, and we’re scouring the federal budget for spending we can afford to do without, these tax giveaways aren’t right," he said. "They aren’t smart. And we need to end them.”

What 'subsidies' do the oil companies get that other businesses don't get? You don't have a clue do you?

What other business makes that enormous profit in just 3 or 4 months?

What other business spends as much money to make money?

 

[Mr. H.]

exxonmobile reports a profit of 10.7 billion 69% higher than last year.

And.... ?

Worldwide operations surely beget huge revenues and profits, especially in these times of high energy prices.

But the majors aren't much more than bit players in the U.S. It's the Independents doing the work within our borders and in our waters. 90% of oil and gas wells drilled not by multi-national integrated corporations such as XON, but by Independents. And it is these independent companies that Obama's proposed tax hikes will effect the most.

 

[froggy]

exxonmobile reports a profit of 10.7 billion 69% higher than last year.

And.... ?

Worldwide operations surely beget huge revenues and profits, especially in these times of high energy prices.

But the majors aren't much more than bit players in the U.S. It's the Independents doing the work within our borders and in our waters. 90% of oil and gas wells drilled not by multi-national integrated corporations such as XON, but by Independents. And it is these independent companies that Obama's proposed tax hikes will effect the most.

they pay taxes in all the other countries why shouldn't they pay them in America?

 

[editec]

Obama cites Boehner on oil tax breaks - Washington Times


they should have cut them out years ago, wait Bush/ Bin Ladan oil company was in charge of america.

Perhaps you will tell me what 'subsidies' the oil companies get.

Here http://www.google.com/search?q=Real+estate+-+manager+-%3E+lic.+agent+-%3E+lic.+appriaser%0D%0A%0D%0A&rls=com.microsoft:en-us:IE-ContextMenu&ie=UTF-8&oe=UTF-8&sourceid=ie7&rlz=1I7ADRA_en#hl=en&sugexp=epsydym&pq=oil%20depletion%20allowance%202010&xhr=t&q=oil+depletion+allowance+2010&cp=0&pf=p&sclient=psy&rls=com.microsoft:en-us%3AIE-ContextMenu&rlz=1I7ADRA_en&source=hp&aq=0&aqi=&aql=f&oq=oil+depletion+allowance+2010&pbx=1&bav=on.2,or.r_gc.r_pw.&fp=63d4c53375cf906e

Happy researching!

 

[Quantum Windbag]

Obama cites Boehner on oil tax breaks - Washington Times


they should have cut them out years ago, wait Bush/ Bin Ladan oil company was in charge of america.

Perhaps you will tell me what 'subsidies' the oil companies get.

Here Real estate - manager -> lic. agent -> lic. appriaser - Google Search

Happy researching!

How is that different from any other tax break for depreciation? Do you also want to abolish depreciation for all businesses? Do you understand that that particular write off does not go to the oil company unless they actually own the land the drilling is being done on? In other words, it does not apply to leasers? You claim it against the royalty payments you get from a lease.

Want to try again?

 

[kiwiman127]

What 'subsidies' do the oil companies get that other businesses don't get? You don't have a clue do you?

What other business makes that enormous profit in just 3 or 4 months?

What other business spends as much money to make money?[/QUOTE]

Profit margins reflect what is left over and spending money to make money.
Below is a chart of industry's profit margins (Click on the chart to enlarge). As one can see, many companies have a lower profit margin than Big Oil.

 

[Too Tall]

Obama cites Boehner on oil tax breaks - Washington Times


they should have cut them out years ago, wait Bush/ Bin Ladan oil company was in charge of america.

Perhaps you will tell me what 'subsidies' the oil companies get.

Here Real estate - manager -> lic. agent -> lic. appriaser - Google Search

Happy researching!

Been there done that!

 

[Quantum Windbag]

What other business makes that enormous profit in just 3 or 4 months?

What other business spends as much money to make money?[/QUOTE]

Profit margins reflect what is left over and spending money to make money.
Below is a chart of industry's profit margins (Click on the chart to enlarge). As one can see, many companies have a lower profit margin than Big Oil.

And many companies have a larger profit margin.

 

[Mr. H.]

exxonmobile reports a profit of 10.7 billion 69% higher than last year.

And.... ?

Worldwide operations surely beget huge revenues and profits, especially in these times of high energy prices.

But the majors aren't much more than bit players in the U.S. It's the Independents doing the work within our borders and in our waters. 90% of oil and gas wells drilled not by multi-national integrated corporations such as XON, but by Independents. And it is these independent companies that Obama's proposed tax hikes will effect the most.

they pay taxes in all the other countries why shouldn't they pay them in America?

Why shouldn't they?

LOL. Haven't you heard?

 

[bripat9643]

they pay taxes in all the other countries why shouldn't they pay them in America?

They do pay taxes in America. Do you think they should be taxed twice on the same income?

 

[editec]

Obama cites Boehner on oil tax breaks - Washington Times


they should have cut them out years ago, wait Bush/ Bin Ladan oil company was in charge of america.

Perhaps you will tell me what 'subsidies' the oil companies get.

Oil depletion allowance, for one.

<LI style="MARGIN-BOTTOM: 8px" class="g knavi">
Publication 17 (2010), Your Federal Income Tax

If you are the owner of an economic interest in mineral deposits or oil and gas wells, you can recover your investment through the depletion allowance. ...
www.irs.gov/publications/p17/ch12.html - Cached - Similar

 

[JRK]

To start with people pay taxes, not corporations
If you raise taxes on Exxon, you will only pay more for a gallon of gas