Republicans Lock In Their Losing Position Against Biden's American Jobs Plan

[DBA]

So it takes time to convert oil leases into oil?

We’ll get on it then.

I guess new oil leases aren’t much help NOW then huh?

Why would an oil company want to make significant further investments in oil when this administraion has clearly stated they want to get regulate the heck out of it and ultimately get rid of it?

Understatement of the century; Democrats are ignorant and naive.

 

[DBA]

It affected some average people in high property tax blue states and wealthier people in lower property tax red sates with higher property values. If you live in a high tax blue state and continue to vote for Democrats then you are the problem and you have no one to blame except yourself. The salt deduction helps me and I live in a red state because I have significant property value.

Smokin' OP you disagreed with this post. What part of it do you believe is wrong? Some average people in high tax states/counties were affected by the cap on the SALT deduction because their property taxes are inordinately high. Why should the federal government allow a federal tax deduction and take a cut in revenue because a county decides to over-tax? Like I said, wealthier people, based on property value, in non-high tax states also benefit with no cap.

 

[Nuthin' Fancy]

Smokin' OP you disagreed with this post. What part of it do you believe is wrong? Some average people in high tax states/counties were affected by the cap on the SALT deduction because their property taxes are inordinately high. Why should the federal government allow a federal tax deduction and take a cut in revenue because a county decides to over-tax? Like I said, wealthier people, based on property value, in non-high tax states also benefit with no cap.

SALT was passed by Trump.

 

[DBA]

SALT was passed by Trump.

Trump put a cap on the deduction.

 

[Lesh]

Why would an oil company want to make significant further investments in oil when this administraion has clearly stated they want to get regulate the heck out of it and ultimately get rid of it?

Understatement of the century; Democrats are ignorant and naive.

Because thy make money on it

 

[Lesh]

Trump put a cap on the deduction.

That's what he meant... and it ended up being a pretty significant tax hike on the middle class

 

[DBA]

Because thy make money on it

They make money now. Why invest money they may not be able to recover if they are going to be shut down in the near future by climate wackos?

 

[DBA]

That's what he meant... and it ended up being a pretty significant tax hike on the middle class

Only in high property tax states. In lower tax states, it only hurts those with significant property values.

Again, one would think the middle-class folks in blue states would question just why their property taxes are so high that it puts them in that position.

 

[Lesh]

They make money now. Why invest money they may not be able to recover if they are going to be shut down in the near future by climate wackos?

They're not going to get "shut down in the future" and they know it.

They're making money now...hand over fist...so they don't NEED to invest in the future

They are enjoying RECORD profits

 

[Lesh]

Only in high property tax states. In lower tax states, it only hurts those with significant property values.

Again, one would think the middle-class folks in blue states would question just why their property taxes are so high that it puts them in that position.

Blue states.

This was a politically targeted tax that hit middle class folks regardless of party

 

[DBA]

They're not going to get "shut down in the future" and they know it.

They're making money now...hand over fist...so they don't NEED to invest in the future

They are enjoying RECORD profits

This administration certainly make comments to the contrary. If those comments are not true then they need to dial down the hyperbole and the regulations instead of trying to appease the wacko climate alarmists.

 

[Lesh]

This administration certainly make comments to the contrary. If those comments are not true then they need to dial down the hyperbole and the regulations instead of trying to appease the wacko climate alarmists.

Dial down?

When were these statements made?

A year ago?

 

[iceberg]

They've got nothing left but negatives.

Funny ass shit

 

[DBA]

Blue states.

This was a politically targeted tax that hit middle class folks regardless of party

The cap on the deduction allowed for a larger standard deduction across the board while maintaining or even increasing overall tax revenue. Blue states should lower their property taxes if they really want to help their middle class instead of relying on the federal government and red states to pick up the slack. Don‘t kid yourself. What upsets the Democratic Party is that their wealthy donors in blue states are getting hammered by not being able to deduct the property taxes above 10k on their multi-million dollar properties. They couldn’t care less about the middle class, otherwise, they would just do the sensible thing and lower property taxes to a nominal level.

 

[Lesh]

The cap on the deduction allowed for a larger standard deduction across the board while maintaining or even increasing overall tax revenue. Blue states should lower their property taxes if they really want to help their middle class instead of relying on the federal government and red states to pick up the slack. Don‘t kid yourself. What upsets the Democratic Party is that their wealthy donors in blue states are getting hammered by not being able to deduct the property taxes above 10k on their multi-million dollar properties. They couldn’t care less about the middle class, otherwise, they would just do the sensible thing and lower property taxes to a nominal level.

Nothing changes the fact that it is a politically targeted tax increase on the middle class.

All tax increases can be offset in some way...that doesn't mean they are not tax increases or that they are justified.

 

[Nuthin' Fancy]

The cap on the deduction allowed for a larger standard deduction across the board while maintaining or even increasing overall tax revenue. Blue states should lower their property taxes if they really want to help their middle class instead of relying on the federal government and red states to pick up the slack. Don‘t kid yourself. What upsets the Democratic Party is that their wealthy donors in blue states are getting hammered by not being able to deduct the property taxes above 10k on their multi-million dollar properties. They couldn’t care less about the middle class, otherwise, they would just do the sensible thing and lower property taxes to a nominal level.

What Lesh said.
Talk to your governor or county commission, you're going to pay one or the other government entity.
You want services, you will pay.

 

[Cellblock2429]

Why would an oil company want to make significant further investments in oil when this administraion has clearly stated they want to get regulate the heck out of it and ultimately get rid of it?

Understatement of the century; Democrats are ignorant and naive.

/——-/ “Understatement of the century; Democrats are ignorant and naive.”
No, democrats are very smart at being socialist activists and are very good at moving their sick agenda forward.

 

[DBA]

Dial down?

When were these statements made?

A year ago?

It is not just the rhetoric, it is also his actions.

January 20, 2021: One of Biden’s first actions was to revoke approval for the Keystone XL pipeline and impose a moratorium on oil and gas leasing on federal lands and waters. Roughly 25% of U.S. production comes from federal areas. The Keystone XL cancellation confirmed to many policy-watchers Biden’s willingness to use one of climate activists’ favorite tactics – blocking "midstream" pipelines – to restrict "upstream" production. The moves were part of Biden’s broader climate agenda and target to reduce U.S. greenhouse gas emissions by 50% by 2030 and achieve net-zero emissions by 2050.

February 26, 2021: Biden updates the "social cost of greenhouse gas emissions," dramatically altering the way the U.S. government calculates the real-world costs of climate change. The move could reshape a range of consequences, from whether to allow new fossil fuel leasing on federal lands and waters to what sort of steel is used in taxpayer-funded infrastructure projects. The administration plans to boost the figure it will use to assess greenhouse gas pollution's damage inflicts on society to $51 per ton of carbon dioxide – a rate more than seven times higher than that used by former president Donald Trump. But experts say it could reach as high as $125 per ton once the administration conducts a more thorough analysis. This would apply to any new oil and gas lease sale, raising producers’ costs to deliver new supplies.

June 1, 2021: Biden proposed eliminating a slew of tax benefits for oil, gas and coal producers in favor of electric vehicles and other low-carbon energy alternatives as part of his $6 trillion budget for the next fiscal year. It proposed repealing: the pass-through exemption from corporate income tax for partnerships that derive at least 90% of gross income from natural resources; use of percentage depletion for oil and gas wells; expensing of intangible drilling costs; capital gains treatment for royalties; enhanced oil recovery credit; $3.90 per barrel credit for marginal oil wells; expensing of exploration and development costs, and other tax incentives. Eliminating these tax provisions imperils U.S. energy security by raising costs for domestic producers and would increase America’s reliance on foreign energy supplies.

August 11, 2021: Biden calls on OPEC+ producers to increase supply to help curb rising oil prices, even though the U.S. is one of the three largest producers in the world and can deliver supply with a lower carbon footprint than most unregulated national oil companies in the cartel. He would do this several times in the months that followed, including after Russia’s February 24, 2022 invasion of Ukraine.

October 29, 2021: Biden and Democrats propose a "methane fee" in the proposed budget bill. The fee would start at $900 per ton in 2023 and increase to $1,500 in 2025. Methane is a potent greenhouse gas, and industry has been working to reduce fugitive emissions of it on its own. The industry has also embraced executive regulatory efforts to reduce methane emissions, including support for the Global Methane Pledge, which requires a 30 percent cut in methane emissions by 2030, one of the Biden administration’s priorities for the COP26 climate summit in Glasgow. But the fee structure would effectively serve as a tax on natural gas production, which is counterproductive to energy security and economic growth in the U.S.

November 17, 2021: Biden sent a letter to Federal Trade Commission Chair Lina Khan encouraging an investigation into oil and gas companies and retail gasoline prices. The move infuriated oil executives, who Biden portrayed as scapegoats for rising inflationary pressures on Americans. In four months, it marked the second time that the White House requested a probe into retail fuel prices, even though gasoline prices are set in a global commodity marketplace and were only following market trends in crude and refined product prices. The surge in crude oil and gasoline prices reflects tightness in supply amid a rapid demand recovery from the Covid-19 pandemic.

March 12, 2022: Congressional Democrats propose to tax top U.S. oil producers and importers and direct the collected money to Americans, an effort they said will curb profiteering in an era of high gasoline prices. The "windfall profit" legislation would put a 50% tax, charged for a barrel, on the price difference between the current cost of a barrel of oil and the average cost for a barrel between 2015 and 2019. Lawmakers contend it would raise an estimated $45 billion a year at $120 a barrel of oil. The measure proposed by Biden’s Democratic party completely ignores the reality that oil prices are set in a global commodity marketplace, not by individual companies.

March 21, 2022: Biden’s Securities and Exchange Commission (SEC) proposes landmark climate rules. If finalized, the rules would fundamentally overhaul how publicly listed companies divulge detailed information about their climate risks and mitigation strategies. Large companies that do business in the U.S. would be required within three years to lay bare their contributions and vulnerabilities to climate change – including, in some cases, the greenhouse gas emissions associated with their customers and suppliers. The move is designed to divert investment away from fossil fuel producers, even though investors are already planning for the energy transition using their own environmental, social and governance (ESG) standards.

Biden’s Actions Against Oil

 

[Dragonlady]

Why would an oil company want to make significant further investments in oil when this administraion has clearly stated they want to get regulate the heck out of it and ultimately get rid of it?

Understatement of the century; Democrats are ignorant and naive.

To make money, dipshit. It's going to take 20 years for the changeover to happen and there's a lot of profit available between now and then.

 

[DBA]

What Lesh said.
Talk to your governor or county commission, you're going to pay one or the other government entity.
You want services, you will pay.

Nobody said you shouldn’t pay, but why is it that I pay significantly lower property tax rates than someone in NJ? My area is much nicer than most in NJ with. better infrastructure.