GOOTS: this is truly amazing. (Sorry but I just pictured someone dangling a set of keys in front of your face) Do you understand what Scobbs is asking? Everyone else seems to. I thought they did to but the tax breaks given to Oil and not other industries that congress is trying to remove has been in the news so much I thought it was ll pretty obvious. I guess your heads are further in the sand than I thought/ You realize there is no tax bill called "oil tax breaks" where they just get 10% off their tax bill? There are hoops to jump through. What we all want to know are which hoops and corresponding incentives are upsetting to you. Specifically. Do you get it now? I don't think I will ever will but I am very very much okay with that. OOOHH LOOOK SHINEY KEYS If we were picking up the tab at the level we are for oil, with every industry in the US then I wouldn't have an issue but I think when a company is making the profits the oil industry is, it is pretty UnAmerican to offer them hand outs. Then again this is a matter of opinion. We as US tax payers give bug oil Income tax breaks. This is what Congress has been working on year after year to remove. We as tax payers issue bonds to the oil industry tax free and or at very low interest for construction projects We as US tax payers offer low or no cost R and D for a highly profitable industry like oil. We as US tax payers Assume the legal hazards of research and development We as US tax payers issue below-cost loans with very generous conditions of repayment We as US tax payers issue lower sales tax rates on petro based products. Meaning you pay more tax on the dollar for other products than you do for oil. We as US tax payers take on the responsibilities of pollution caused by oil industries. - what would oil cost if the industry. We pay to clean up their spills and protect their shipments as well as their interests abroad,
this is truly amazing. (Sorry but I just pictured someone dangling a set of keys in front of your face)
Do you understand what Scobbs is asking? Everyone else seems to.
I thought they did to but the tax breaks given to Oil and not other industries that congress is trying to remove has been in the news so much I thought it was ll pretty obvious.
I guess your heads are further in the sand than I thought/
You realize there is no tax bill called "oil tax breaks" where they just get 10% off their tax bill? There are hoops to jump through. What we all want to know are which hoops and corresponding incentives are upsetting to you.
Specifically.
Do you get it now?
I don't think I will ever will but I am very very much okay with that. OOOHH LOOOK SHINEY KEYS
If we were picking up the tab at the level we are for oil, with every industry in the US then I wouldn't have an issue but I think when a company is making the profits the oil industry is, it is pretty UnAmerican to offer them hand outs. Then again this is a matter of opinion.
We as US tax payers give bug oil Income tax breaks. This is what Congress has been working on year after year to remove.
We as tax payers issue bonds to the oil industry tax free and or at very low interest for construction projects
We as US tax payers offer low or no cost R and D for a highly profitable industry like oil.
We as US tax payers Assume the legal hazards of research and development
We as US tax payers issue below-cost loans with very generous conditions of repayment
We as US tax payers issue lower sales tax rates on petro based products. Meaning you pay more tax on the dollar for other products than you do for oil.
We as US tax payers take on the responsibilities of pollution caused by oil industries. - what would oil cost if the industry. We pay to clean up their spills and protect their shipments as well as their interests abroad,
I know what you're thinking, GOOTS, but it CAN get worse.
Much worse.
Observe: http://musicscene.org/forums/t/10953.aspx?PageIndex=1
I see your brain is consumed with making all the muscles work properly to eat your sandwich.
Clearly you don't have an answer as most of us suspected all along.
Number Johnny 5
Actually it's not your fualt, just when I tell my Great Dane to not dig in the back yard.
Neither of you get it and both look at me like I'm the stupid one.
Can you admit that you don't know the specifics and are instead relying on assumptions and trickle down talking points?
Your dog may be on to something.
GOOTS: Can you admit that you don't know the specifics and are instead relying on assumptions and trickle down talking points?
WHAT ADMIT THAT EVEN AS A FINANCE STUDENT I DO NOT FULLY UNDERSTAND FEDERAL and CORPORATE TAX CODES AND REGULATIONS!!!!!!!
NEVER!!!!!
Actually I will, but that only puts us at a level playing field, like the 2 sides in congress and the senate that are argueing this very thing.
Now, through all the entertainment, I never did catch anyone elses opinion, except that I was wrong for having mine.
Here's the problem toods. If the tax break was to create a program that employs single minority mothers would you have a problem?
You throw out "tax breaks" and "subsidies" but you have no idea what they correspond to. You only seem to see that a profitable company is getting a break. How do you think all these social programs work? What is the best way to employ people? Increase welfare or give subsidies to companies that hire needy people?
I believe Scobbs suspected that you have no idea what the tax breaks and other assorted susidies are for and just like to complain based on your prejudice.
Umm, i did lay them out.
So you are saying that that oil gets a majority of their tax breaks because they hire single minority mothers?
That is so awesome!!!!! IHere I thought it was all the money they donate every year to save the unicorns
No I am not saying they get breaks for hiring single mothers I am asking a hypothetical question.
All I see is a list of your guesses as to why oil companies get tax breaks. Show some sources. You have been asked for specifics. Like, how are oil companies getting R&D for free?
Back in the late 90's there was a push to have oil companies drill off the gulf and further deeper into open waters but they refused without incentives from the US government. Hence they got their R and D taken care of because of what Oil said were high risk.
Now, as a finance student I fully understand risk. It's something every company deals with every day, it's what every investor deals with every day. It's one thing that seperates us from the communists. Well, it was one thing.
The funny thing is, here I am, a liberal argueing for conservative ideals. Then again, look at the current President. Sorry about the side note.
It's more like we are forced by their hand to make it happen.
I picture the Oil Industry as a 4 year old child, the US Government is the mother and us as citizens as the crowd around the mother and child.
The child is threatening to hold his or her breath in the middle of crowd if they don't get a piece of candy. The mother is scared that the people aroundher will think she is a horrible mother if she let's that happen so she keeps giving her kid the candy.
Oil acts as if they need these hand outs and without it gas prices would go up and the people will be pissed.
Translation: Our economies balls rest nicely in the hands of the fossil fuel industries.
Is that what our forefathers wanted?
How much is the current gas tax? What does that pay for?
I'm still waiting for a source too.
Toodles: They are like a 4 year old child who is threatening to hold his or her breath in the middle of crowd if they don't get a piece of candy.
They are like a 4 year old child who is threatening to hold his or her breath in the middle of crowd if they don't get a piece of candy.
A fat man never goes to bed hungry.
Source for what part. The part that states that big oil gets tax breaks for hiring single mothers?
Google Oil Tax Breaks and take your pick, this is not the obscure theory you alone, think it is.
Actually, I'll do it for you, wouldn't want you to hurt yourself with all the big words you might have to spell.
Tyler: Toodles: They are like a 4 year old child who is threatening to hold his or her breath in the middle of crowd if they don't get a piece of candy. That would be an empty threat as a child holding their breath will accomplish nothing. What a horrible example you've concocted.
Analogies may not be my thing today, but your criticism was very resourcefful and aided much in the discussion of the topic.
Scobbs: Toodles: Oil acts as if they need these hand outs and without it gas prices would go up and the people will be pissed. Oh no....you're not still on that are you? Ok.....tell us what handouts they are receiving. Let's stop with generalizations. You should be able to find the specifics pretty easily. Let's have em. Then we can go over them one by one. Go. (note: I am not saying that they don't exist....let's just talk reality here instead of Toddah generalizations)
Toodles: Oil acts as if they need these hand outs and without it gas prices would go up and the people will be pissed.
Oh no....you're not still on that are you?
Ok.....tell us what handouts they are receiving. Let's stop with generalizations. You should be able to find the specifics pretty easily. Let's have em. Then we can go over them one by one.
Go.
(note: I am not saying that they don't exist....let's just talk reality here instead of Toddah generalizations)
Ahh I see how this works.
Scobbs asks for specifics and then his cronies and himself ask that they be made more and more specific and in the whole time they haven't said one thing to the contraty.
I gotta try that one. actualll, I don't have to try that one but that's the way I like it..
So amongst all the playful banter here is how I see it.
I say that the industry specific tax breaks that oil companies get should be removed or lessened(NOT THE TAX BREAKS THAT THEY SHARE WITH OTHER INDUSTRTIES ) :
-Like the e depletion allowance of 15% of sales revenue
-Deduction of 70% of their drilling costs
-Their reduced royalty fees on oil pumped out of federally owned waters, which costs taxpayers $13 billion a year
Goots and GG don't think they exist and I will let them have that opinion.
Scobbs know they exist but thinks they do more good than harm, I don't.
We could have saved a lot of time if you just said you disagreed when I originally posted that I disagree with the above and oiher indirect sibsidies that I mentioned earlier.
ouch
You have nothing to say on the subject?
Toodles: -Like the e depletion allowance of 15% of sales revenue -Deduction of 70% of their drilling costs -Their reduced royalty fees on oil pumped out of federally owned waters, which costs taxpayers $13 billion a year
Hey finance guy! Why wouldn't drilling be a 100% deduction? Like every other business expense.
Reduced royalty from what?
I have no idea what an e depletion allowance would be. (I'm guessing you don't either, where did you cut and paste that list from?)
I never said tax incentives don't exist for oil companies, I just said you don't know what they are or why you don't like them further than "Oil companies=bad"