Why are we giving oil companies subsidies?

[Remodeling Maidiac]

Simplifying the tax code would eliminate the need for deductions. And I used the term subsidies because that is the term commonly used to describe the topic.
Play semantics if you like but the premise of the thread stands. Simplify the tax code and eliminate all deductions. This idea has been fully supported by the posters on this website plenty of times so arguing for the sake of arguing is pretty dumb. In fact I remember MOST of you defending Cain's proposed 9/9/9 plan and that plan had no deductions.

Continue hacking away, your partisanship badge may be in jeopardy.

 

[Vandalshandle]

You want the truth about oil and gas subsidies? Ok, here it is:

Obama Wants To Eliminate Tax Breaks For Oil Companies | CleanTechnica

Except what Obama won't follow up with is a simplified tax code. That way the price of gasoline products will GO UP making green more competitive.

Which will hurt ALL Americans not just the oil companies

Congress put tax credits for energy exploration into the tax code because they knew that finding and producing energy was and is in the best interests of every citizen of the USA.

Yes, oil companies make profits (8% or so, in general). Big pharma makes profits too (30% or so). why no liberal outrage it the drug companies?

here's another one, software companies are averaging 25% profits, where's the outrage at them?

The liberal mantra here is not about profits, its about the foolish notion that fossil fuels are evil.

I don't know a liberal that is NOT outraged at big Pharm. And as for software companies, the comic strip "Doonsbury" which is about as liberal as you can get and still be considered mainstream, refers to Microsoft as "the personification of evil".

 

[healthmyths]

Simplifying the tax code would eliminate the need for deductions. And I used the term subsidies because that is the term commonly used to describe the topic.
Play semantics if you like but the premise of the thread stands. Simplify the tax code and eliminate all deductions. This idea has been fully supported by the posters on this website plenty of times so arguing for the sake of arguing is pretty dumb. In fact I remember MOST of you defending Cain's proposed 9/9/9 plan and that plan had no deductions.

Continue hacking away, your partisanship badge may be in jeopardy.

But your obvious ignorance PERPETUATES the misconception.. "subsidies" and you probably thought the government was giving them money like Solyndra right???

Don't use the terms that the MSM and liberals use then! They are NOT subsidies.
Any more then the deductions your company takes for YOUR health insurance, your pension etc... they are deductions!
NOW no one with any common sense is against simplifying the tax code..
GEEZ The 1936 Federal Register was 2,620 pages long. It has grown steadily since then,
with the 2012 edition weighing in at 78,961 pages it should be simplified.
But with people like you that seemingly can't even substantiate their comments with simple facts.. our nation continues to be an
uninformed electorate!

The PREMISE by the way of the THREAD is in the title.. "why are we giving oil companies subsidies?
If you had been smart you would have LOOKED up the concept first of "subsidies" and then determined..hmmm that may not be fair!

 

[Remodeling Maidiac]

Simplifying the tax code would eliminate the need for deductions. And I used the term subsidies because that is the term commonly used to describe the topic.
Play semantics if you like but the premise of the thread stands. Simplify the tax code and eliminate all deductions. This idea has been fully supported by the posters on this website plenty of times so arguing for the sake of arguing is pretty dumb. In fact I remember MOST of you defending Cain's proposed 9/9/9 plan and that plan had no deductions.

Continue hacking away, your partisanship badge may be in jeopardy.

But your obvious ignorance PERPETUATES the misconception.. "subsidies" and you probably thought the government was giving them money like Solyndra right???

Don't use the terms that the MSM and liberals use then! They are NOT subsidies.
Any more then the deductions your company takes for YOUR health insurance, your pension etc... they are deductions!
NOW no one with any common sense is against simplifying the tax code..
GEEZ The 1936 Federal Register was 2,620 pages long. It has grown steadily since then,
with the 2012 edition weighing in at 78,961 pages it should be simplified.
But with people like you that seemingly can't even substantiate their comments with simple facts.. our nation continues to be an
uninformed electorate!

The PREMISE by the way of the THREAD is in the title.. "why are we giving oil companies subsidies?
If you had been smart you would have LOOKED up the concept first of "subsidies" and then determined..hmmm that may not be fair!

No need to look up anything. You and everyone else knew exactly what I ment.

Like I said, semantics

 

[Remodeling Maidiac]

People skip the entire idea of the thread to argue definitions.

Just dumb

 

[Erand7899]

Wanting a simplified tax code is liberal ignorance?

Interesting....

A simplified tax code is a myth that is wholly unobtainable under an income tax system. The vast majority of the tax code is nothing more than an attempt to determine what the income to be taxed is. Since there are numerous ways in which income can be made, numerous ways in which income can be lost, and numerous expenses associated with making income, the tax code has to consider all variations.

And, because of the necessary complexity, it is easy for politicians to insert provisions that favor their doner base.

The FAIR tax eliminates all of the complexity of collecting taxes, and is almost impossible to scam, even with the aid of politicians. It may be difficult to determine how much income you make, but it is easy to determine how much you spend. This tax is paid at the time of purchase, is collected by the state under the same rules that state sales taxes are collected, and it is completely transparent. An added benefit is that it collects taxes from the criminals who have never paid taxes before.

 

[Redfish]

Except what Obama won't follow up with is a simplified tax code. That way the price of gasoline products will GO UP making green more competitive.

Which will hurt ALL Americans not just the oil companies

Congress put tax credits for energy exploration into the tax code because they knew that finding and producing energy was and is in the best interests of every citizen of the USA.

Yes, oil companies make profits (8% or so, in general). Big pharma makes profits too (30% or so). why no liberal outrage it the drug companies?

here's another one, software companies are averaging 25% profits, where's the outrage at them?

The liberal mantra here is not about profits, its about the foolish notion that fossil fuels are evil.

I don't know a liberal that is NOT outraged at big Pharm. And as for software companies, the comic strip "Doonsbury" which is about as liberal as you can get and still be considered mainstream, refers to Microsoft as "the personification of evil".

Then why are all of the liberal media attacks focused on energy companies?

But a better question: What do corporations do with their profits?
1. distribute them to shareholders in the form of dividends
2. expand their business and hire more people
3. spend them in the economy

Three awful things, right?

 

[Redfish]

People skip the entire idea of the thread to argue definitions.

Just dumb

Then you on the left need to stop using the incorrect term---corporate subsidies. Tax deductions and credits are NOT subsidies. Direct payments to farmers to NOT grow corn are subsidies.

 

[healthmyths]

Simplifying the tax code would eliminate the need for deductions. And I used the term subsidies because that is the term commonly used to describe the topic.
Play semantics if you like but the premise of the thread stands. Simplify the tax code and eliminate all deductions. This idea has been fully supported by the posters on this website plenty of times so arguing for the sake of arguing is pretty dumb. In fact I remember MOST of you defending Cain's proposed 9/9/9 plan and that plan had no deductions.

Continue hacking away, your partisanship badge may be in jeopardy.

But your obvious ignorance PERPETUATES the misconception.. "subsidies" and you probably thought the government was giving them money like Solyndra right???

Don't use the terms that the MSM and liberals use then! They are NOT subsidies.
Any more then the deductions your company takes for YOUR health insurance, your pension etc... they are deductions!
NOW no one with any common sense is against simplifying the tax code..
GEEZ The 1936 Federal Register was 2,620 pages long. It has grown steadily since then,
with the 2012 edition weighing in at 78,961 pages it should be simplified.
But with people like you that seemingly can't even substantiate their comments with simple facts.. our nation continues to be an
uninformed electorate!

The PREMISE by the way of the THREAD is in the title.. "why are we giving oil companies subsidies?
If you had been smart you would have LOOKED up the concept first of "subsidies" and then determined..hmmm that may not be fair!

No need to look up anything. You and everyone else knew exactly what I ment.

Like I said, semantics

Well you laziness is noted by the simply fact in 15 words can't even spell "meant"!
I mean you are reeking of laziness if you can't even pay attention to the little red dotted underline of your misspelled "ment"!
And as most people of YOUR ilk do you make GROSS assumptions as well as gross exaggerations!
And there is NO need to look up???
If I hadn't done a very easy search your idiotic "giving oil companies subsidies" shows on the contrary THERE IS NOTHING to give! Idiot!
Subsidies means someone gives support to someone (oil companies)!
NOTHING was given by the IRS. What was allowed was the entities getting deductions (including idiots like you for mortgage interest,etc.)
don't PAY as much of YOUR earnings in taxes! So where in the f...k is the gift in that? The support in that?
NOTHING. A subsidy is not a tax deduction.

 

[OKTexas]

People skip the entire idea of the thread to argue definitions.

Just dumb

Without definitions there is no accurate communication, that is dumb. Now how about we start talking about "dumb" as if it means smart, after all that's the liberal way, fluid definitions.That way no one can be held responsible for what they say, it always means something else. That's not really dumb, it's stupid.

 

[Redfish]

People skip the entire idea of the thread to argue definitions.

Just dumb

Without definitions there is no accurate communication, that is dumb. Now how about we start talking about "dumb" as if it means smart, after all that's the liberal way, fluid definitions.That way no one can be held responsible for what they say, it always means something else. That's not really dumb, it's stupid.

just another libtardian talking point

"corporate welfare"
"the 1% don't pay their fair share"
"corporations are evil"
"its just not fair-------waa waa waa"

pathetic creatures.

 

[percysunshine]

People skip the entire idea of the thread to argue definitions.

Just dumb

Define 'dumb'.

Just kidding. But when you speak of a simplified tax code, you might want to add some flesh to that bone.

What does 'Grampa's Ideal Tax Code' look like?

 

[Vandalshandle]

Congress put tax credits for energy exploration into the tax code because they knew that finding and producing energy was and is in the best interests of every citizen of the USA.

Yes, oil companies make profits (8% or so, in general). Big pharma makes profits too (30% or so). why no liberal outrage it the drug companies?

here's another one, software companies are averaging 25% profits, where's the outrage at them?

The liberal mantra here is not about profits, its about the foolish notion that fossil fuels are evil.

I don't know a liberal that is NOT outraged at big Pharm. And as for software companies, the comic strip "Doonsbury" which is about as liberal as you can get and still be considered mainstream, refers to Microsoft as "the personification of evil".

Then why are all of the liberal media attacks focused on energy companies?

But a better question: What do corporations do with their profits?
1. distribute them to shareholders in the form of dividends
2. expand their business and hire more people
3. spend them in the economy
Three awful things, right?

Perhaps you might want to rethink the part in bold:

Offshore Cash Hoard Expands by $183 Billion at Companies - Bloomberg

 

[Clementine]

Tax breaks aren't the same as subsidies. It does seem that some in the private sector, such as the banks, do get special treatment. During the massive foreclosures a few years ago, government was encouraging foreclosures by paying the difference between what was owed and what the home sold for at a sheriff's sale.

 

[healthmyths]

I don't know a liberal that is NOT outraged at big Pharm. And as for software companies, the comic strip "Doonsbury" which is about as liberal as you can get and still be considered mainstream, refers to Microsoft as "the personification of evil".

Then why are all of the liberal media attacks focused on energy companies?

But a better question: What do corporations do with their profits?
1. distribute them to shareholders in the form of dividends
2. expand their business and hire more people
3. spend them in the economy
Three awful things, right?

Perhaps you might want to rethink the part in bold:

Offshore Cash Hoard Expands by $183 Billion at Companies - Bloomberg

Your ignorance is showing!!!
A) The dominant REASONS corporations hoard cash abroad:
1) Documented HIGHEST tax rate on corporations is the USA..
2) They don't see ANY encouragement to hire more people(Obamacare)
3) Obama hates capitalism. Why else would ANY president believe the following:

-- in a "single payer health system"... but is OK that physicians attest they order $850 billion a year in wasted claims because of fear of lawyers.
-- bankrupting ANY company..much less electric utilities"!"if somebody wants to build coal utility plant it’s just that it will bankrupt them"
"Under my plan of a cap and trade system, electricity rates would necessarily skyrocket"

-- gas prices should go up... I'd like higher gas prices, just not so quickly" LiveLeak.com - Obama: Id like higher gas prices, just not so quickly

-- our military should be demeaned by statements that call our troops nazis or that they methodically bomb villages killing civilians"!

-- all corporations are evil or capitalism is bad. Without taxes from jobs and companies we couldn't run our governments!"

-- EPA should be involved in managing dust on country roads or fining a Wyoming welder $75,000 a day for building pond on his property"

-- Energy secretary Chu, who said in 2008“Somehow we have to figure out how to boost the price of gasoline to the levels in Europe.”

-- LYING to pass legislation"..Remember "you can keep your doctor"??

-- 46 million uninsured as the facts point out there were less then 4 million"!

B) Corporations have the duty/responsibility to protect the value of shareholders equity.. i.e. don't blow the money in taxes in the USA which:
1) TAXES the corporation at the highest rate in the world
2) Double taxes on shareholders by paying dividends WHICH after the corporation has paid taxes already the shareholder is taxed AGAIN!

 

[Remodeling Maidiac]

People skip the entire idea of the thread to argue definitions.

Just dumb

Without definitions there is no accurate communication, that is dumb. Now how about we start talking about "dumb" as if it means smart, after all that's the liberal way, fluid definitions.That way no one can be held responsible for what they say, it always means something else. That's not really dumb, it's stupid.

just another libtardian talking point

"corporate welfare"
"the 1% don't pay their fair share"
"corporations are evil"
"its just not fair-------waa waa waa"

pathetic creatures.

Except I didn't say anything like that. If you disagree fine, but making shit up to argue against it is indeed pathetic

 

[boedicca]

I don't know a liberal that is NOT outraged at big Pharm. And as for software companies, the comic strip "Doonsbury" which is about as liberal as you can get and still be considered mainstream, refers to Microsoft as "the personification of evil".

Then why are all of the liberal media attacks focused on energy companies?

But a better question: What do corporations do with their profits?
1. distribute them to shareholders in the form of dividends
2. expand their business and hire more people
3. spend them in the economy
Three awful things, right?

Perhaps you might want to rethink the part in bold:

Offshore Cash Hoard Expands by $183 Billion at Companies - Bloomberg

Oh My GAWD! Multinational companies hold money from overseas profits in foreign bank accounts because the federal government will double tax them if they bring it to the U.S.!!!!!

Oh.Teh.Humanity!

 

[Old Rocks]

Wanting a simplified tax code is liberal ignorance?

Interesting....

Well, Gramps, the very thought of bringing up the subsidies and a simple tax code, other than one in which the one percent pay no taxes, brands you as a raving liberal.

 

[OnePercenter]

We subsidize nearly every private business by paying their workers with public EBT allotments so that private businesses don't have to pay higher wages for their workers to afford food.

Higher Profits For Investors.

 

[OnePercenter]

It is important that we subsidize the oil companies so that they can afford to sell their oil to foreign countries, thus raising the price that they can charge to US citizens.

Oil and gasoline prices are price-fixed on the market.