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

[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.

 

[Meister]

Don't stop with just the oil companies, how about tax subsidies for farmers?

 

[AVG-JOE]

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 ******* paperwork it takes to work in this country.

 

[AVG-JOE]

Don't stop with just the oil companies, how about tax subsidies for farmers?

Simple = fair.

Lets move to a tax on consumption. 7 + 7 on 3.

 

[Chris]

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.

 

[uscitizen]

Don't stop with just the oil companies, how about tax subsidies for farmers?

Simple = fair.

Lets move to a tax on consumption. 7 + 7 on 3.

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

Tax should not promote any lifestyle, etc.

 

[Chris]

Don't stop with just the oil companies, how about tax subsidies for farmers?

Simple = fair.

Lets move to a tax on consumption. 7 + 7 on 3.

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

Tax should not promote any lifestyle, etc.

I would prefer a progressive tax.

The rich can afford to pay a little bit more.

 

[Contumacious]

Simple = fair.

Lets move to a tax on consumption. 7 + 7 on 3.

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

Tax should not promote any lifestyle, etc.

I would prefer a progressive tax.

The rich can afford to pay a little bit more.

HUH?

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

Happy?.

 

[Mr. H.]

$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 **** yourelves" but it's not quite the same as getting fucked by your ugly sister then bing forced to thank her for it.

 

[jeffrockit]

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.

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

 

[bripat9643]

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.

How would that simplify the tax code? "Simplify" does not equal "increase."

 

[bripat9643]

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

Tax should not promote any lifestyle, etc.

Congress will screw that up in short order like they did after Reagan simplified the income tax.

The only real solution is to repeal the income tax. Deductions will end only when they are no longer possible.

 

[bripat9643]

I would prefer a progressive tax.

The rich can afford to pay a little bit more.

We have a progressive tax, dipstick.

 

[editec]

Simple does not necessarily equal FAIR.

Would that that were true.

 

[Stephanie]

I guess there is nothing like cutting off your nose to spite your face.

 

[AVG-JOE]

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.

NO!!

I disagree. We need to take this opportunity to rebuild our tax code and the philosophy that drives it from the ground up. No entrepreneurial endeavor or organization should EVER get special treatment under the tax code - it's the surest pathway to corruption.

7% general sales tax on every retail purchase + 7% income tax on yearly earnings in excess of $3 million.

No corporate income tax, no bullshit loopholes, no special treatment, no IRS retail level bureaucracy to pay for.

 

[AVG-JOE]

Don't stop with just the oil companies, how about tax subsidies for farmers?

Simple = fair.

Lets move to a tax on consumption. 7 + 7 on 3.

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

Tax should not promote any lifestyle, etc.

I'm flexible enough to get behind a flat tax, assuming a consumption tax is off the table. But a consumption tax, IMHO, would be more fair.

 

[AVG-JOE]

Simple = fair.

Lets move to a tax on consumption. 7 + 7 on 3.

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

Tax should not promote any lifestyle, etc.

I would prefer a progressive tax.

The rich can afford to pay a little bit more.

That's why the 7% general sales tax needs augmentation by 7% on yearly income in excess of $3 million. If the infrastructure has afforded you an income over $3 million per year, you can afford 7% on the excess to help smurf up and maintain that infrastructure.

Wouldn't it be cool to live in a country where a typical blow-hard brags about getting to the point where he has to pay a little income tax?

"Yup. I'm doing just fine in the titty-bar business - should even be paying income tax next year!"

 

[AVG-JOE]

$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 **** yourelves" but it's not quite the same as getting fucked by your ugly sister then bing forced to thank her for it.

The point, at least for this average liberal, is NOT to take special tax status from the oil industry and give it to another industry - the point is to no longer have "Special Players" and the corruption that philosophy breeds.

Simple = fair.

7 + 7 on 3

 

[AVG-JOE]

Simple does not necessarily equal FAIR.

Would that that were true.

What do you mean, Ed? I have to know, because I respect you and that statement kind of flies in the face of my personal mantra on taxes.

How can simple not be fair? It's the reams of exceptions and loop-holes that complicate the code and create the unfairness.