Another Liberal myth: Oil compainies get subsidies/tax breaks

[JRK]

Let me add something on the term "tax break"
If you remove "tax breaks" from, lets use oil companies, your going to kill jobs

Forcasting wealth is a critical tool that is used to re-invest that wealth in your company. Instead of paying taxes, they will up-date there fleet of vehicles etc....

Big Bonuses get huge tax rates, I know I got one in 2003 and could not believe the tax rate I paid (my was little compared to the oil execs)

bottom line is "tax breaks" as some would call them are job creation/wealth creating events

 

[bripat9643]

This is funny because I was actually contemplating starting a topic this past weekend called "When Tax Credits Become A Subsidy". There are certain situations, like in ObamaCare, when this is the case.

However, all this smoke and mirrors asking for evidence of "subsidies" in this topic conceals the very real fact that oil companies do get tax breaks from Congress. Tax breaks, by definition, are an exemption not given equally to all, and are therefore uncompetitive. They create an unlevel playing field.

So let's remove all of them (not just oil carve outs), lower everyone's tax rate, and see who has a failure for a business model and who does not.

What tax breaks do oil companies get that other companies doen't get?

 

[bripat9643]

Where did they acknowledge the existence of subsidies/tax breaks?

Page 8 of the link:

Since he left his company, former Shell CEO John Hofmeister has made clear that his position has not changed since his testimony. On February 11, 2011, he stated, “In the face of sustained high oil prices it was not an issue—for large companies—of needing the subsidies to entice us into looking for and producing more oil.”

That is not an admission that oil companies are recieving subsidies. Saying you don't need a subsidy is not equivalent to saying you are recieving a subsidy. If I say I don't need a Ferarri, I'm not admitting that I have a Ferarri.

 

[hilbert]

have you ever see the words "their" and "they're"?

He used "there" for "they're"

... and "your" for "you're"

Isn't it amazing that manufactures have made computers so "user friendly" that a guy like this can get online, even though a school dropout!

 

[bripat9643]

Where did they acknowledge the existence of subsidies/tax breaks?

They are off in the land of People-Who-Can-Read.

Then you should be able to quote it.

 

[bripat9643]

Joe Barton vigorously defending these non-existent tax credits:

Barton: Govt Subsidies Necessary To Keep Exxon From Going Out Of Business | TPMDC

Barton never used the term "subsidy." The "journalist" who wrote the article put those words in his mouth.

You deserve to be negged for being such a stupid drone.

 

[JRK]

Where did they acknowledge the existence of subsidies/tax breaks?

Page 8 of the link:

Since he left his company, former Shell CEO John Hofmeister has made clear that his position has not changed since his testimony. On February 11, 2011, he stated, “In the face of sustained high oil prices it was not an issue—for large companies—of needing the subsidies to entice us into looking for and producing more oil.”

That is not an admission that oil companies are recieving subsidies. Saying you don't need a subsidy is not equivalent to saying you are recieving a subsidy. If I say I don't need a Ferarri, I'm not admitting that I have a Ferarri.

That Lib still trying to convince his-self that BHO is not being honest with him?
Subsidy | Define Subsidy at Dictionary.com

This is about Obama going on national TV using the word subsidy with oil company, it is a flat out lie
as far as that goes any-one who uses that term with oil company, is acting with deciption
It is a tax hike, thats what he wants, and that only will harm us

 

[bripat9643]

This is about Obama going on national TV using the word subsidy with oil company, it is a flat out lie
as far as that goes any-one who uses that term with oil company, is acting with deciption
It is a tax hike, thats what he wants, and that only will harm us

Liberalism is all about convincing the voters that being looted and enslaved is in their best interests. Of course, you can't do that by being honest and telling the truth.

 

[g5000]

This is funny because I was actually contemplating starting a topic this past weekend called "When Tax Credits Become A Subsidy". There are certain situations, like in ObamaCare, when this is the case.

However, all this smoke and mirrors asking for evidence of "subsidies" in this topic conceals the very real fact that oil companies do get tax breaks from Congress. Tax breaks, by definition, are an exemption not given equally to all, and are therefore uncompetitive. They create an unlevel playing field.

So let's remove all of them (not just oil carve outs), lower everyone's tax rate, and see who has a failure for a business model and who does not.

What tax breaks do oil companies get that other companies doen't get?

S. 2204: Repeal Big Oil Tax ... - Full Text - GovTrack.us

Start on page 16. Read through to page 24.

 

[g5000]

Where did they acknowledge the existence of subsidies/tax breaks?

Page 8 of the link:

Since he left his company, former Shell CEO John Hofmeister has made clear that his position has not changed since his testimony. On February 11, 2011, he stated, “In the face of sustained high oil prices it was not an issue—for large companies—of needing the subsidies to entice us into looking for and producing more oil.”

That is not an admission that oil companies are recieving subsidies. Saying you don't need a subsidy is not equivalent to saying you are recieving a subsidy. If I say I don't need a Ferarri, I'm not admitting that I have a Ferarri.

Read the quote in context. He was speaking about existing "subsidies". Tax breaks given for oil exploration.

 

[JRK]

What amazes me with all of this is the fact that rasing the amount of tax the oil companies pay means nothing to them
They dont need a lower rate, they will pass those cost down to us

How can providing wealth for the federal govt. as mandated (and as part of being an American) be a break?
How can earning 1.00 in welath and being allowed only to keep 80 cents of it be seen as a break?

Can one of you libs explain that to me?

 

[JRK]

Page 8 of the link:

That is not an admission that oil companies are recieving subsidies. Saying you don't need a subsidy is not equivalent to saying you are recieving a subsidy. If I say I don't need a Ferarri, I'm not admitting that I have a Ferarri.

Read the quote in context. He was speaking about existing "subsidies". Tax breaks given for oil exploration.

Dude, what the media uses in a article or a senator uses in a deposition does not change the fact that Paying taxes is not a break, nor is it a subsidy
Subsidy | Define Subsidy at Dictionary.com

 

[bripat9643]

That is not an admission that oil companies are recieving subsidies. Saying you don't need a subsidy is not equivalent to saying you are recieving a subsidy. If I say I don't need a Ferarri, I'm not admitting that I have a Ferarri.

Read the quote in context. He was speaking about existing "subsidies". Tax breaks given for oil exploration.

Tax breaks are not subsidies. Explorations costs are legitimate business expenses. It's not clear what is being referred to by the expression "the subsidies." There is no "context" presented, so your claim is horseshit.

 

[bripat9643]

What tax breaks do oil companies get that other companies doen't get?

S. 2204: Repeal Big Oil Tax ... - Full Text - GovTrack.us

Start on page 16. Read through to page 24.

The fact that some sleazy Democrat politicians call their bill a "repeal of subsidies and tax breaks" doesn't mean that's what it is. You can count on the fact that any bill submitted by a Democrat is not what the title claims.

Face it: all you've got is leftwing propaganda. You can't quote any actual part of the tax code that gives oil companies a break.

 

[The T]

That is not an admission that oil companies are recieving subsidies. Saying you don't need a subsidy is not equivalent to saying you are recieving a subsidy. If I say I don't need a Ferarri, I'm not admitting that I have a Ferarri.

Read the quote in context. He was speaking about existing "subsidies". Tax breaks given for oil exploration.

Tax breaks are not subsidies. Explorations costs are legitimate business expenses. It's not clear what is being referred to by the expression "the subsidies." There is no "context" presented, so your claim is horseshit.

In Obama's world? Subsidies are buckets of money the companies are given courstesy of the taxpayer when in reality he's talking about taxbreaks and letting companies keep thier money to encourage growth.

 

[zeke]

I have wasted to much of my time reading this stupid thread.

However I do have a request before I find something more productive to do (like scratching my ass) but would someone explain to the jrk the difference between "there" and "their".

I said on an earlier thread that rethugs are dumb, so thank you jrk for proving my point.
Is basic literacy so much to ask when you are presenting such idiotic ideas?

And jrk, you may not think (proven fact actually) that corporations do not pay taxes, that people do. But Mittens says corporations are people too, my friend. And people pay taxes.

So which is it. Is Mittens correct? Corporations are people? Should Exxon pay taxes like people do?

 

[The T]

What amazes me with all of this is the fact that rasing the amount of tax the oil companies pay means nothing to them
They dont need a lower rate, they will pass those cost down to us

How can providing wealth for the federal govt. as mandated (and as part of being an American) be a break?
How can earning 1.00 in welath and being allowed only to keep 80 cents of it be seen as a break?

Can one of you libs explain that to me?

Obama and the Statists are targeting taxing businesses on thier enemies list out of existence.

Especially Oil companies since he's already cost the taxpayers billions with failures such as Solyndra...in a fit of rage, Obama sees fit to employ wealth envy, class warfare tactics and go to the American people with lies and distortions.

 

[bripat9643]

In Obama's world? Subsidies are buckets of money the companies are given courstesy of the taxpayer when in reality he's talking about taxbreaks and letting companies keep thier money to encourage growth.

I doubt they even qualify as true tax breaks. Allowing oil companies to deduct their exploration expenses is not a tax break. It's a legitimate business expense.

 

[g5000]

What amazes me with all of this is the fact that rasing the amount of tax the oil companies pay means nothing to them
They dont need a lower rate, they will pass those cost down to us

How can providing wealth for the federal govt. as mandated (and as part of being an American) be a break?
How can earning 1.00 in welath and being allowed only to keep 80 cents of it be seen as a break?

Can one of you libs explain that to me?

I'm not a liberal, so I can explain it very easily using illustration.

I am a corporation that makes Widgets™ and I am taxed 25 percent of my profits. So if I make a million dollars in profits, I am taxed $250,000.

Next door to me is a rival company that makes Whatchamacallits™, and they have donated money to every member of the House Ways and Means Committee. By some fantasitic coincidence, the House Ways and Means Committee put a tax exemption in the tax code which results in my rivals only paying 15 percent taxes on their profits. So when they make a milion dollars in profits, they are taxed $150,000.

They clearly have an advantage over me now.

And then there is you, defending my rival saying they would just pass the cost of their Whatchamacallits™ onto the consumer if their tax break was removed.

However, if we reformed the tax code and eliminated tax breaks, Congress could lower the tax rate from 25 percent down to 20 percent. Then if I make one million dollars profit, I pay $200,000 in taxes. And if my rival makes one million dollars profits, they also pay $200,000 in taxes.

The total revenue comes out to the exact same amount as before, except I am paying less taxes, passing the savings on Widgets™ on to you!

 

[bripat9643]

I have wasted to much of my time reading this stupid thread.

However I do have a request before I find something more productive to do (like scratching my ass) but would someone explain to the jrk the difference between "there" and "their".

I said on an earlier thread that rethugs are dumb, so thank you jrk for proving my point.
Is basic literacy so much to ask when you are presenting such idiotic ideas?

And jrk, you may not think (proven fact actually) that corporations do not pay taxes, that people do. But Mittens says corporations are people too, my friend. And people pay taxes.

So which is it. Is Mittens correct? Corporations are people? Should Exxon pay taxes like people do?

You're a moron who deserves to be negged.