So much for Republican support for an unfettered free market

[mercury14]

Republicans continue to support government intervention, subsidizing, and deficit gift-giving to the oil mega-corporations. When will the hypocrisy end?


http://news.yahoo.com/s/ap/20110518/ap_on_bi_ge/us_oil_tax_breaks

 

[renard_ruse]

The "hypocrisy" that wasn't

On the one hand GOP is accused of extremism and doctrinare unflexibility, then when they take a more moderate approach they are accused of "hypocrisy." Right, ok. FAIL!

I don't speak for the GOP, but personally I support a mixed economy within a broadly capitalist framework. That seems moderate and truly centrist to me. Glad to hear the GOP may feel the same way. I will be more likely to support them in the next election!

 

[koalabear]

What about the dems that voted against it?

 

[mercury14]

What about the dems that voted against it?

What about 'em? (all 3 of them).... Are you trying to make a point or just run from your party's blatant hypocritical bullshit?

 

[koalabear]

What about 'em? Are you trying to make a point or just run from your party's blatant hypocritical bullshit?

Read the thread title retard.

 

[mercury14]

On the one hand GOP is accused of extremism and doctrinare unflexibility, then when they take a more moderate approach they are accused of "hypocrisy." Right, ok. FAIL!

I don't speak for the GOP, but personally I support a mixed economy within a broadly capitalist framework. That seems moderate and truly centrist to me. Glad to hear the GOP may feel the same way. I will be more likely to support them in the next election!

Tell me what you call a party that fuels itself on extremism and inflexibility, then turns around and adamantly supports this sort of thing... Running on "fiscal conservatism", then this? Really????

Demonizing socialism and big-government interventions in the market, then turning around to give multi-billion dollar gifts to companies, on borrowed Chinese money is called.... um?

What's your word for it?








I see Rand fucking Paul voted for it. So much for his whole philosophy of government staying out of corporate interests, reducing spending, and letting the free market determine prices.

 

[bronzeage]

Can someone explain why the taxpayers are subsidizing a profitable industry?

 

[Ham Murabi]

Can someone explain why the taxpayers are subsidizing a profitable industry?

Can someone explain why taxpayers should subsidize any industry?

 

[RightField]

This is from the Washington Post:

Rolling back tax benefits for oil companies is a hardy perennial in Congress. In 2007, for example, Democrats capped their “100 hours” agenda by passing a measure that targeted oil companies’ eligibility for a manufacturing tax break that effectively lowered their corporate tax rates.

The break, adopted in 2004 to stimulate job growth by trimming tax rates for a range of manufacturers, gives oil companies and other manufacturers a top rate of about 32 percent instead of 35 percent. It is the biggest single budget item; its repeal would save $18 billion. Other oil company tax breaks are decades old.

But there is no evidence that eliminating them would help lower gas prices. “It is dishonest for any of us to say that there is some magic wand that could be waved and bring down gas prices,” said Sen. Claire McCaskill (D-Mo.).

Oil companies complain that they are being unfairly targeted while other businesses enjoy similar tax benefits.

“Targeting a specific industry or even a segment of that industry is what we would consider punitive and unfair tax policy, and it is not going to get us increased energy security, increased employment and certainly not going to lower the price of gasoline,” said Charles Drevna, president of the National Petrochemical and Refiners Association.

http://www.washingtonpost.com/polit...-cut-deficit/2011/05/10/AFiL42hG_story_1.html

 

[Sean Renaud]

Can someone explain why taxpayers should subsidize any industry?

Because there's stuff we need and frankly stuff we want that isn't profitable.

 

[bronzeage]

Can someone explain why taxpayers should subsidize any industry?

Let's start with the oil industry.

Why do we have subsidies for oil companies?

Anybody?

 

[RightField]

Because there's stuff we need and frankly stuff we want that isn't profitable.

2004....it sounds like one of the laws designed to stem the flow of manufacturing moving offshore....to keep more jobs in the US by making taxes a little (a very little) less onerous here. They should have made the drop bigger and applied it to many industries, not just manufacturing.

The dems seem to be on a crusade to screw the economy and force jobs outside the US....I think it's called cutting off the nose to spite the face.

 

[Ham Murabi]

Because there's stuff we need and frankly stuff we want that isn't profitable.

For example?

 

[unregistered]

 

[unregistered]

 

[JustaSCOUNDREL]

Republicans continue to support government intervention, subsidizing, and deficit gift-giving to the oil mega-corporations. When will the hypocrisy end?


http://news.yahoo.com/s/ap/20110518/ap_on_bi_ge/us_oil_tax_breaks

Just a bit of education. A corporation DOES NOT pay taxes. What ever expenses they have is passed along to you the customer. They have no loyalty to you just because you buy their gas. When they pay extra for anything, including taxes, they pass the cost along to you the customer.

A corporation has a fiduciary responsibility to its stock holders. That includes a returning profit to them and keeping the company alive. They have not a single iota of responsibility to the customer except to provide the expected product.

Let's take Exxon mobile Corp.(XOM) as an example. They are a 400 billion Corp. Last quarter they cleared about 19 billion. Sounds like a lot. If you do the math is is a bit over 4% of the value of the corp.

They pay 25% of their profits to there share holders in the form of dividends that about 8.7 billion. They employ over a 100,000 people world wide.

Last year their profit margin was a little over 6%. They paid $53 billion in taxes last year.

So in your estimation how much money should they make? How much should they pay their stock holders? What should their profit margin be? How much should they pay in taxes?

And one final question how much would you be willing to pay for gas to ensure XOM pays more taxes?

 

[garbage can]

What about the dems that voted against it?

Koala, those are the Blue Dogs, they're not real Dems.

 

[JustaSCOUNDREL]

What about the dems that voted against it?

Or the Reps that voted for it?

 

[bronzeage]

Name the "subsidy" they get that's not given to any other corporation.

We can get to that next.

Why do taxpayers subsidize the oil industry? Does anybody have any idea?

 

[garbage can]

Can someone explain why taxpayers should subsidize any industry?

Yeah, including Ethanol Subsidies.

 

[JustaSCOUNDREL]

Can someone explain why the taxpayers are subsidizing a profitable industry?

Yup, I can. Corporations do not pay taxes.
Their costs are passed along to you, the customer. So I'll ask you the same question I asked Quick Silver _14.

How much more are you willing to pay for gas so the oil co.s pay more taxes?

 

[Sonny Limatina]

Republicans don't want an "unfettered free market," they want the government to be as small as possible. That's not the same thing.

Capitalists want an "unfettered free market." There are plenty of those on both sides of the aisle. None will ever see a true "unfettered free [U.S.] market" in action.

Who cares?

 

[unregistered]

 

[unregistered]

 

[bronzeage]

Yup, I can. Corporations do not pay taxes.
Their costs are passed along to you, the customer. So I'll ask you the same question I asked Quick Silver _14.

How much more are you willing to pay for gas so the oil co.s pay more taxes?

Yeah, I get it. The oil company subsidy is really a subsidy for me. We hear a lot about the percentage of Americans who pay no taxes. I bet a lot of those people drive cars. This means taxpayers are not only subsidizing the oil companies, but also non-tax paying drivers.


If taxpayer money is supposed to keep the price of gas low, it doesn't seem to be working.

If the subsidy were removed, why wouldn't supply, demand and competition in the market place set the price? If the price of gas is held artificially low by government subsidies, how can the US consumer, taxpayer and stockholder make informed decisions about energy purchases. Maybe we could just give the money straight to drivers in the form of block grants and let them choose who to reward with their business.

If this subsidy contributes to the deficit, then it's like buying more gas with your credit card than you can pay off in a month. In a year, you are still paying interest on gas you bought and burned in the first month.

So, tell me again, why are taxpayers subsidizing oil companies?