Only 13% of business' tax cuts are going to workers, survey says

[Winston]

The depletion allowance subsidizes the oil companies. Oh, I know the logic..encourage the use of foreign oil..so as to keep our own, but it's done at the expense of the taxpayer. Would gas prices go up/ Sure..the oil companies are shameless..but if you're a believer in free markets...than you must let the market set the price. At some point, the auto industry would, once again, design gas efficient auto's..hybrids would be more popular..and fat-ass trucks would go onto the market..so what?

Allowing corporations to deduct typical expenses is not a subsidy.

Sure..but the Oil Depletion Allowance is something different--it is not a 'typical expense'. It is a tailored tax break--simple as that. I want that money paid to the Govt...also simple as that. i know it's one of those untouchable Republican sacred cows and I don't care. The oil companies don't need it--they just want it. Their lobby is strong...and the reality is that it would be a serious fight..and would only happen with a huge Democratic majority in both houses. I'm not a Dem..by any stretch..but I'd support them on this.

Is depreciation a subsidy?

Nope..but I think you're reaching..at this point...Especially since over time oil increases in value..it does not depreciate. If the oil companies wish to write off their capital expenditures..equipment and such..via depreciation--I've no problem with that. As long as they use the same rules every other business uses....a percentage..and not the whole. Oh..and as long as it's understood that oil exploration is the cost of doing business..and is NOT included as a write-off. I simply do not believe that the American taxpayer should bear the cost of private businesses everyday expenses.

How is depletion of an oil deposit different than depreciation? How is exploration expense not an expense to be written off, like any other business expense?

Can depreciation exceed the value of the original investment? The depletion allowance can. And normally you depreciate a building that someone built. Nobody "built" the damn oil that has been sitting in the ground for millions of years.

 

[Toddsterpatriot]

How is depletion of an oil deposit different than depreciation? How is exploration expense not an expense to be written off, like any other business expense?

So..your position is that we, the American people, should shoulder the burden of all expenses incurred..while the oil company reaps all the profit? Well..that's kinda the way it is now, right?

What the hell are you talking about? An oil company "shoulders the expense of drilling", not you. Do you know how profits are even calculated? You seem confused on the issue.

If..the company drills..and comes of dry..writes off the expense..We, the Taxpayers..are the losers. Nevermind..kinda far afield..I just want to cancel the Depletion allowance. i know it's a pipe dream...but i think it's money on the table for us...an increase in revenue with out a down side really...higher gas prices..that will lead to more fuel efficient cars and less use of oil.

If I drill for oil and come up dry, how the hell did the taxpayer lose?
Sounds like you don't have the slightest clue how profits are calculated. If I buy an oil field for 10 million, spend 5 million on drilling expenses and 3 million on salaries, how much is my profit if I pull 20 million worth of oil out of the ground? How much corporate tax should I pay?

Well..you'd be taxed on the 2 million..which is cool..except you'd also write-off the enough of the expenses that your taxes paid would be effectively zero..right?

What else is there to write off?

 

[Toddsterpatriot]

Why do you feel depletion allowances are a subsidy?
I agree. Kill all ethanol mandates and subsidies.

The depletion allowance subsidizes the oil companies. Oh, I know the logic..encourage the use of foreign oil..so as to keep our own, but it's done at the expense of the taxpayer. Would gas prices go up/ Sure..the oil companies are shameless..but if you're a believer in free markets...than you must let the market set the price. At some point, the auto industry would, once again, design gas efficient auto's..hybrids would be more popular..and fat-ass trucks would go onto the market..so what?

Allowing corporations to deduct typical expenses is not a subsidy.

Sure..but the Oil Depletion Allowance is something different--it is not a 'typical expense'. It is a tailored tax break--simple as that. I want that money paid to the Govt...also simple as that. i know it's one of those untouchable Republican sacred cows and I don't care. The oil companies don't need it--they just want it. Their lobby is strong...and the reality is that it would be a serious fight..and would only happen with a huge Democratic majority in both houses. I'm not a Dem..by any stretch..but I'd support them on this.

Is depreciation a subsidy?

Depletion is not depreciation, not even close.

How is it materially different?

 

[Toddsterpatriot]

Allowing corporations to deduct typical expenses is not a subsidy.

Sure..but the Oil Depletion Allowance is something different--it is not a 'typical expense'. It is a tailored tax break--simple as that. I want that money paid to the Govt...also simple as that. i know it's one of those untouchable Republican sacred cows and I don't care. The oil companies don't need it--they just want it. Their lobby is strong...and the reality is that it would be a serious fight..and would only happen with a huge Democratic majority in both houses. I'm not a Dem..by any stretch..but I'd support them on this.

Is depreciation a subsidy?

Nope..but I think you're reaching..at this point...Especially since over time oil increases in value..it does not depreciate. If the oil companies wish to write off their capital expenditures..equipment and such..via depreciation--I've no problem with that. As long as they use the same rules every other business uses....a percentage..and not the whole. Oh..and as long as it's understood that oil exploration is the cost of doing business..and is NOT included as a write-off. I simply do not believe that the American taxpayer should bear the cost of private businesses everyday expenses.

How is depletion of an oil deposit different than depreciation? How is exploration expense not an expense to be written off, like any other business expense?

Can depreciation exceed the value of the original investment? The depletion allowance can. And normally you depreciate a building that someone built. Nobody "built" the damn oil that has been sitting in the ground for millions of years.

Because no one built it, it can't be depleted?

 

[Carl in Michigan]

Wow, this is one of the most expensive tax cuts in history. And at a time when corporations are doing really, really well. Why not share with the workers?

You may not have heard, but there are JOBS out there now. That's what tax breaks create.

 

[Winston]

Sure..but the Oil Depletion Allowance is something different--it is not a 'typical expense'. It is a tailored tax break--simple as that. I want that money paid to the Govt...also simple as that. i know it's one of those untouchable Republican sacred cows and I don't care. The oil companies don't need it--they just want it. Their lobby is strong...and the reality is that it would be a serious fight..and would only happen with a huge Democratic majority in both houses. I'm not a Dem..by any stretch..but I'd support them on this.

Is depreciation a subsidy?

Nope..but I think you're reaching..at this point...Especially since over time oil increases in value..it does not depreciate. If the oil companies wish to write off their capital expenditures..equipment and such..via depreciation--I've no problem with that. As long as they use the same rules every other business uses....a percentage..and not the whole. Oh..and as long as it's understood that oil exploration is the cost of doing business..and is NOT included as a write-off. I simply do not believe that the American taxpayer should bear the cost of private businesses everyday expenses.

How is depletion of an oil deposit different than depreciation? How is exploration expense not an expense to be written off, like any other business expense?

Can depreciation exceed the value of the original investment? The depletion allowance can. And normally you depreciate a building that someone built. Nobody "built" the damn oil that has been sitting in the ground for millions of years.

Because no one built it, it can't be depleted?

Come on, use your head. I already told you how it was different. The depletion allowance can exceed the value of the original investment, which is total bullshit and makes no sense whatsoever. How can you justify that? In your example the depletion allowance would have been three million dollars. And it could be three million dollars in perpetuity. I mean why don't I get a depletion allowance for the gasoline I buy for my business. I fill up, it costs forty bucks. I write off the forty bucks and then, well hell, I guess I should get a depletion allowance because that gas gets depleted.

 

[Brain357]

Wow, this is one of the most expensive tax cuts in history. And at a time when corporations are doing really, really well. Why not share with the workers?

You may not have heard, but there are JOBS out there now. That's what tax breaks create.

They have been there for quite some time, unemployment was quite low before the breaks.

 

[Thinker101]

Wow, this is one of the most expensive tax cuts in history. And at a time when corporations are doing really, really well. Why not share with the workers?

You may not have heard, but there are JOBS out there now. That's what tax breaks create.

They have been there for quite some time, unemployment was quite low before the breaks.

They were there during the Obama era, they were just pretend though.

 

[Brain357]

Wow, this is one of the most expensive tax cuts in history. And at a time when corporations are doing really, really well. Why not share with the workers?

You may not have heard, but there are JOBS out there now. That's what tax breaks create.

They have been there for quite some time, unemployment was quite low before the breaks.

They were there during the Obama era, they were just pretend though.

I've seen no reason to believe they are any different. Wages have seen no real growth.

 

[Thinker101]

Wow, this is one of the most expensive tax cuts in history. And at a time when corporations are doing really, really well. Why not share with the workers?

You may not have heard, but there are JOBS out there now. That's what tax breaks create.

They have been there for quite some time, unemployment was quite low before the breaks.

They were there during the Obama era, they were just pretend though.

I've seen no reason to believe they are any different. Wages have seen no real growth.

Yeah, so how many out there got one of those shovel ready jobs. I'll agree on the wages, no real growth, although that is changing.

 

[Brain357]

Wow, this is one of the most expensive tax cuts in history. And at a time when corporations are doing really, really well. Why not share with the workers?

You may not have heard, but there are JOBS out there now. That's what tax breaks create.

They have been there for quite some time, unemployment was quite low before the breaks.

They were there during the Obama era, they were just pretend though.

I've seen no reason to believe they are any different. Wages have seen no real growth.

Yeah, so how many out there got one of those shovel ready jobs. I'll agree on the wages, no real growth, although that is changing.

I've seen little evidence it is changing. Labor force participation still just as low under obama too!

 

[Thinker101]

You may not have heard, but there are JOBS out there now. That's what tax breaks create.

They have been there for quite some time, unemployment was quite low before the breaks.

They were there during the Obama era, they were just pretend though.

I've seen no reason to believe they are any different. Wages have seen no real growth.

Yeah, so how many out there got one of those shovel ready jobs. I'll agree on the wages, no real growth, although that is changing.

I've seen little evidence it is changing. Labor force participation still just as low under obama too!

You seem to be switching back and forth between job growth, wage growth and labor participation. Pick one, comment on one or piss off.

 

[Brain357]

They have been there for quite some time, unemployment was quite low before the breaks.

They were there during the Obama era, they were just pretend though.

I've seen no reason to believe they are any different. Wages have seen no real growth.

Yeah, so how many out there got one of those shovel ready jobs. I'll agree on the wages, no real growth, although that is changing.

I've seen little evidence it is changing. Labor force participation still just as low under obama too!

You seem to be switching back and forth between job growth, wage growth and labor participation. Pick one, comment on one or piss off.

I don't see why we can't discuss all of them. Trump before he was elected talked about how bad our participation rate was and that our real unemployment rate was like 25%, the participation rate is just as low now. There isn't much wage growth to speak of. All this and increased deficits.

 

[Thinker101]

They were there during the Obama era, they were just pretend though.

I've seen no reason to believe they are any different. Wages have seen no real growth.

Yeah, so how many out there got one of those shovel ready jobs. I'll agree on the wages, no real growth, although that is changing.

I've seen little evidence it is changing. Labor force participation still just as low under obama too!

You seem to be switching back and forth between job growth, wage growth and labor participation. Pick one, comment on one or piss off.

I don't see why we can't discuss all of them. Trump before he was elected talked about how bad our participation rate was and that our real unemployment rate was like 25%, the participation rate is just as low now. There isn't much wage growth to speak of. All this and increased deficits.

And he adds another piece....

 

[Sahba]

Help me out here... aren't business tax cuts... first and foremost, designed to spur businesses into reinvesting excess capital back into things like R&D, expansion etc.???

 

[Brain357]

I've seen no reason to believe they are any different. Wages have seen no real growth.

Yeah, so how many out there got one of those shovel ready jobs. I'll agree on the wages, no real growth, although that is changing.

I've seen little evidence it is changing. Labor force participation still just as low under obama too!

You seem to be switching back and forth between job growth, wage growth and labor participation. Pick one, comment on one or piss off.

I don't see why we can't discuss all of them. Trump before he was elected talked about how bad our participation rate was and that our real unemployment rate was like 25%, the participation rate is just as low now. There isn't much wage growth to speak of. All this and increased deficits.

And he adds another piece....

Are you unable to discuss the economy?

 

[Oldstyle]

Only 13% of business' tax cuts are going to workers, survey says

Tax cut scoreboard: Workers $6 billion; Shareholders $171 billion

Wow, this is one of the most expensive tax cuts in history. And at a time when corporations are doing really, really well. Why not share with the workers?

ARC: Athens County back to 'distressed' status

This is Appalachia, the center of the Republican Party. The area that has the 10 poorest counties in the United States. Those counties being more than 98% white.

Why not pass some of those tax cuts along as wage increases for whites living in the Appalachia area?

What is with you and Appalachia, R-Derp? You think it's the "center" of the Republican Party? Why because it's mostly white? It used to be the center of the Democratic Party back in the Kennedy years. Of course that was before you tree huggers decided mining coal was as evil as cooking meth! The reason that Appalachia votes Republican now isn't about skin color...it's about you liberals destroying their means of putting food on the table!

 

[Brain357]

Help me out here... aren't business tax cuts... first and foremost, designed to spur businesses into reinvesting excess capital back into things like R&D, expansion etc.???

Republicans sold it to us like it would increase wages.

 

[Thinker101]

Yeah, so how many out there got one of those shovel ready jobs. I'll agree on the wages, no real growth, although that is changing.

I've seen little evidence it is changing. Labor force participation still just as low under obama too!

You seem to be switching back and forth between job growth, wage growth and labor participation. Pick one, comment on one or piss off.

I don't see why we can't discuss all of them. Trump before he was elected talked about how bad our participation rate was and that our real unemployment rate was like 25%, the participation rate is just as low now. There isn't much wage growth to speak of. All this and increased deficits.

And he adds another piece....

Are you unable to discuss the economy?

Unable to discuss with someone that want's to interchange words, one post you talk about jobs not going up, next you talk about wages not going up, then participation rate...so simple answer is no, not with you.

 

[Brain357]

I've seen little evidence it is changing. Labor force participation still just as low under obama too!

You seem to be switching back and forth between job growth, wage growth and labor participation. Pick one, comment on one or piss off.

I don't see why we can't discuss all of them. Trump before he was elected talked about how bad our participation rate was and that our real unemployment rate was like 25%, the participation rate is just as low now. There isn't much wage growth to speak of. All this and increased deficits.

And he adds another piece....

Are you unable to discuss the economy?

Unable to discuss with someone that want's to interchange words, one post you talk about jobs not going up, next you talk about wages not going up, then participation rate...so simple answer is no, not with you.

I see, you are too slow to keep. I'm not surprised...