Why are we giving oil companies subsidies?

[nodoginnafight]

Subsidy: a grant by a government to a private person or company to assist an enterprise deemed advantageous to the public.

Subsidy - Definition and More from the Free Merriam-Webster Dictionary

grant verb \ˈgrant\
: to agree to do, give, or allow (something asked for or hoped for)

: to give (something) legally or formally
Grant - Definition and More from the Free Merriam-Webster Dictionary

Don't see anything about mailing a check .....

Trying to redefine words and then berate people for not accepting your re-definition is not a very compelling argument.

 

[g5000]

Tax deductions for equipment depreciation are corporate welfare.

Deferral of income from controlled foreign corporations are corporate welfare.

Deductions for US production activities are corporate welfare.

Tax credits for increasing research activities are corporate welfare.

Exclusion of interest on public purpose State and local bonds are corporate welfare.

Deferred taxes for financial firms on certain income earned overseas are corporate welfare.

Credit for low-income housing investments are corporate welfare.


How any alleged right winger who constantly refers to the intentions of our Founders could possibly justify any of these is beyond me.


It is far past time to ban all tax expenditures so we can lower both individual and corporate tax rates for everyone, and stop borrowing from China.

 

[nodoginnafight]

Tax deductions for equipment depreciation are corporate welfare.

Deferral of income from controlled foreign corporations are corporate welfare.

Deductions for US production activities are corporate welfare.

Tax credits for increasing research activities are corporate welfare.

Exclusion of interest on public purpose State and local bonds are corporate welfare.

Deferred taxes for financial firms on certain income earned overseas are corporate welfare.

Credit for low-income housing investments are corporate welfare.


How any alleged right winger who constantly refers to the intentions of our Founders could possibly justify any of these is beyond me.


It is far past time to ban all tax expenditures so we can lower both individual and corporate tax rates for everyone, and stop borrowing from China.

Good point. When you consider we are borrowing money in order to give it to some of the wealthiest and highest profiting businesses on the planet .....

You gotta wonder.

 

[Remodeling Maidiac]

If the rational is that it was their money to begin with and they deserve it why doesn't every other company "deserve" some of their money returned in the form of subsidies?

Better yet why don't we just simplify the tax code so the government doesn't have control over who it deems a winner or loser.

Corporate welfare needs to stop across the board.

We shouldn't be giving subsidies to any person or company period.

That includes the ACA, Oil companies and anyone else who gets a subsidy from the US Taxpayer.

Oil companies do not get subsidies. Please look up the word 'subsidies'. It does not mean tax credits for exploration and development.

Subsidies are when a farmer is sent a govt check for NOT growing corn in order to keep the price up.

You made that clear the FIRST FIFTEEN FUCKING TIMES YOU POSTED IT in this very thread.

Why the fuck you idiots continue to bump old threads is beyond me. When libs do it we call them trolls. What does that make you?

 

[theHawk]

If the rational is that it was their money to begin with and they deserve it why doesn't every other company "deserve" some of their money returned in the form of subsidies?

Better yet why don't we just simplify the tax code so the government doesn't have control over who it deems a winner or loser.

Corporate welfare needs to stop across the board.

Can you be specific for what you object to when it comes to "subsidies"?

In the United States, the federal government has paid US$74 billion for energy subsidies to support R&D for nuclear power ($50 billion) and fossil fuels ($24 billion) from 1973 to 2003. During this same timeframe, renewable energy technologies and energy efficiency received a total of US$26 billion. It has been suggested that a subsidy shift would help to level the playing field and support growing energy sectors, namely solar power, wind power, and biofuels.[21] However, many of the "subsidies" available to the oil and gas industries are general business opportunity credits, available to all US businesses (particularly, the foreign tax credit mentioned above). The value of industry-specific subsidies in 2006 was estimated by the Texas State Comptroller to be just $3.06 billion a fraction of the amount claimed by the Environmental Law Institute.[22] The balance of federal subsides, which the comptroller valued at $7.4 billion, came from shared credits and deductions, and oil defense (spending on the Strategic Petroleum Reserve, energy infrastructure security, etc.).

Energy subsidies - Wikipedia, the free encyclopedia

Oil Subsidies that Liberals Love


So why do we still have fossil fuel subsidies? Because almost nobody — not even Bill McKibben — wants to get rid of all of the programs that are classified as fossil fuel subsidies. I suspect McKibben would not advocate eliminating the Low Income Home Energy Assistance Program. Two of the most outspoken Democratic opponents of oil subsidies have strongly defended this particular program — even though it is classified by the OECD as the 3rd largest petroleum subsidy. When Republicans tried to cut funding for the program, Sen. Chuck Schumer, D-N.Y., called the proposal an “extreme idea” that would “ set the country backwards.” Rep. Edward Markey, D-Mass, states on his website that he is a “longtime Congressional champion of providing assistance to low-income families to heat and cool their homes.”

The Surprising Reason That Oil Subsidies Persist: Even Liberals Love Them - Forbes

 

[martybegan]

Subsidy: a grant by a government to a private person or company to assist an enterprise deemed advantageous to the public.

Subsidy - Definition and More from the Free Merriam-Webster Dictionary

Sorry, but when taxpayers give oil and gas companies $14.4 billion over the course of 10 years in order to encourage those companies to keep their U.S. oil and gas fields in the U.S. and not move them overseas ..... that's a subsidy imho. I think it fits the definition.

Sure - the oil and gas companies would LIKE to re-define the word subsidy so that nothing they get fits - but that's just political sophistry imho.

So the government writes the company a check?

and $14.4 billion would fund the US government fooooorr.....about a day and a 1/3.

 

[nodoginnafight]

However, many of the "subsidies" available to the oil and gas industries are general business opportunity credits, available to all US businesses (particularly, the foreign tax credit mentioned above)

So tell me why oil and gas companies should receive subsidies that other companies get to encourage them to keep their manufacturing facilities in the U.S. ?

To keep them from moving their oil and gas fields to another country?

And we'll be borrowing $14.4 billion over the next 10 years in order to give that to them.

 

[martybegan]

However, many of the "subsidies" available to the oil and gas industries are general business opportunity credits, available to all US businesses (particularly, the foreign tax credit mentioned above)

So tell me why oil and gas companies should receive subsidies that other companies get to encourage them to keep their manufacturing facilities in the U.S. ?

To keep them from moving their oil and gas fields to another country?

And we'll be borrowing $14.4 billion over the next 10 years in order to give that to them.

That works out to 1.4 billion a year. considering we already borrow that DAILY to keep the government up and running, it seems you are arguing about a faucet drip on a sinking ship.

 

[nodoginnafight]

Subsidy: a grant by a government to a private person or company to assist an enterprise deemed advantageous to the public.

Subsidy - Definition and More from the Free Merriam-Webster Dictionary

Sorry, but when taxpayers give oil and gas companies $14.4 billion over the course of 10 years in order to encourage those companies to keep their U.S. oil and gas fields in the U.S. and not move them overseas ..... that's a subsidy imho. I think it fits the definition.

Sure - the oil and gas companies would LIKE to re-define the word subsidy so that nothing they get fits - but that's just political sophistry imho.

So the government writes the company a check?

and $14.4 billion would fund the US government fooooorr.....about a day and a 1/3.

What does a check have to do with anything?

And so your position is what ... it's OK to blow money as long as it's not enough to fund the government for what ?? TWO FULL days????

A lot of people run their mouth about government waste and balancing the budget ... and then turn around and say "oh THAT amount means nothing."

It's why we are borrowing so much.

Thanks.

 

[martybegan]

Subsidy: a grant by a government to a private person or company to assist an enterprise deemed advantageous to the public.

Subsidy - Definition and More from the Free Merriam-Webster Dictionary

Sorry, but when taxpayers give oil and gas companies $14.4 billion over the course of 10 years in order to encourage those companies to keep their U.S. oil and gas fields in the U.S. and not move them overseas ..... that's a subsidy imho. I think it fits the definition.

Sure - the oil and gas companies would LIKE to re-define the word subsidy so that nothing they get fits - but that's just political sophistry imho.

So the government writes the company a check?

and $14.4 billion would fund the US government fooooorr.....about a day and a 1/3.

What does a check have to do with anything?

And so your position is what ... it's OK to blow money as long as it's not enough to fund the government for what ?? TWO FULL days????

A lot of people run their mouth about government waste and balancing the budget ... and then turn around and say "oh THAT amount means nothing."

It's why we are borrowing so much.

Thanks.

again, screaming loudly about a faucet drip while ankle deep in water on a sinking ship.

 

[rdean]

Corporations are people my friend. The only people that really count. Republicans understand this.

 

[nodoginnafight]

So the government writes the company a check?

and $14.4 billion would fund the US government fooooorr.....about a day and a 1/3.

What does a check have to do with anything?

And so your position is what ... it's OK to blow money as long as it's not enough to fund the government for what ?? TWO FULL days????

A lot of people run their mouth about government waste and balancing the budget ... and then turn around and say "oh THAT amount means nothing."

It's why we are borrowing so much.

Thanks.

again, screaming loudly about a faucet drip while ankle deep in water on a sinking ship.

so is that your response to the solyndra debacle? Even less money involved ... doesn't bother you a bit to piss away "small" denominations, huh?

$14 billion here - $14 billion there - doesn't mean a thing, huh?

 

[Interpol]

Conservatives say they want smaller government, but here they are on this thread defending socialism to big business.

Go figure.

Their words are the opposite of their actions; what they really want is for government to take care of them and their buddies and everyone else can take a hike.

 

[nodoginnafight]

Conservatives say they want smaller government, but here they are on this thread defending socialism to big business.

Go figure.

Their words are the opposite of their actions; what they really want is for government to take care of them and their buddies and everyone else can take a hike.

That's true - but it's true of Democrats too.

They are ALL willing to sink us further and further into debt in order to line the pockets of their supporters.

 

[Nosmo King]

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 is traded on global commodity exchanges. Further domestic production is not automatically relegated to the American market. Our domestic oil trades along side Saudi and Venezuelan oil and is subject to the casino that is the commodity markets. Price hikes usually result in the prices established in those markets.

Someone not planning to take delivery of the oil can make a profit or loss on that oil and never see the product. Should strategic resources like oil be subject to artificial price hikes that benefit only those betting on the future price?

 

[bendog]

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.

Lets' end those too.

As for the oil and gas thing, mainly I don't see why they should depreciate their wells. Sure they should be able to depreciate machinery, refineries, ships and the like just like any other company. But a well is just a pool of oil. Depreciate the cost of extraction sure, but depreciate the oil itself? I don't see that at all.

America's Most Obvious Tax Reform Idea: Kill the Oil and Gas Subsidies - Jordan Weissmann - The Atlantic

 

[martybegan]

What does a check have to do with anything?

And so your position is what ... it's OK to blow money as long as it's not enough to fund the government for what ?? TWO FULL days????

A lot of people run their mouth about government waste and balancing the budget ... and then turn around and say "oh THAT amount means nothing."

It's why we are borrowing so much.

Thanks.

again, screaming loudly about a faucet drip while ankle deep in water on a sinking ship.

so is that your response to the solyndra debacle? Even less money involved ... doesn't bother you a bit to piss away "small" denominations, huh?

$14 billion here - $14 billion there - doesn't mean a thing, huh?

With solyndra the government actually guaranteed loans, and ended up paying up when the company went belly up. So here the government actually DID pay out, if you want to look for actual subsidies, here they are.

To me solyndra is less about the lost $$ and more about the admin backing a dead horse.

 

[nodoginnafight]

again, screaming loudly about a faucet drip while ankle deep in water on a sinking ship.

so is that your response to the solyndra debacle? Even less money involved ... doesn't bother you a bit to piss away "small" denominations, huh?

$14 billion here - $14 billion there - doesn't mean a thing, huh?

With solyndra the government actually guaranteed loans, and ended up paying up when the company went belly up. So here the government actually DID pay out, if you want to look for actual subsidies, here they are.

To me solyndra is less about the lost $$ and more about the admin backing a dead horse.

What the heck difference does it make if you "back a dead horse" if it doesn't cost you (or anyone else) a single cent?

Of course it is about the money - OUR MONEY - and wasting it.

That's MHO anyway.

 

[bendog]

again, screaming loudly about a faucet drip while ankle deep in water on a sinking ship.

so is that your response to the solyndra debacle? Even less money involved ... doesn't bother you a bit to piss away "small" denominations, huh?

$14 billion here - $14 billion there - doesn't mean a thing, huh?

With solyndra the government actually guaranteed loans, and ended up paying up when the company went belly up. So here the government actually DID pay out, if you want to look for actual subsidies, here they are.

To me solyndra is less about the lost $$ and more about the admin backing a dead horse.

To me it was about the govt picking a winner or loser in the energy market. There's no doubt the Chinese essentially price fixed solar by selling panels for less than the cost of manuftring them, and they did so to gain a monopoly, and ultimately that makes solar more expensive. But, Obama didn't do anything about that.

Instead he used the treasury to pick sloyandra over some other mftr.

Marvelous.

 

[nodoginnafight]

so is that your response to the solyndra debacle? Even less money involved ... doesn't bother you a bit to piss away "small" denominations, huh?

$14 billion here - $14 billion there - doesn't mean a thing, huh?

With solyndra the government actually guaranteed loans, and ended up paying up when the company went belly up. So here the government actually DID pay out, if you want to look for actual subsidies, here they are.

To me solyndra is less about the lost $$ and more about the admin backing a dead horse.

To me it was about the govt picking a winner or loser in the energy market. There's no doubt the Chinese essentially price fixed solar by selling panels for less than the cost of manuftring them, and they did so to gain a monopoly, and ultimately that makes solar more expensive. But, Obama didn't do anything about that.

Instead he used the treasury to pick sloyandra over some other mftr.

Marvelous.

But no one could have picked solyndra as the winner - they were manufacturing outdated technology from the git-go. It was a stupid bet - with OUR money. That's the way I see it.