Bassbob
Emissary
Yeah, but those people would be far better served if the government actually starts spending our tax dollars here instead of all over the freakin' world. The government doesn't have an income problem, they have a spending problem.
Steep price increase on guns ahead?
- Thread starter EANx
- Start date
And a problem with tax credits to oil, pharma, and defense companies. Stop those subsidies and the govt could stop ruining (ex)federal employees' lives with plenty to spare.
Bassbob
Emissary
Well if neocons and warmongers would quit getting us involved in every conflict on the globe defense spending would go down. It's still gotta be significant though. Drug companies are totally scamming the F out of all of us.
As for the oil companies, first we gotta wade through the BS and get to the real numbers. Then we can address restrictive regulations and excessive taxation.
"Before we break down the numbers behind the claims, let’s first define subsidy. According to Dictionary.com subsidy can be defined four ways:
- a direct pecuniary aid furnished by a government to a private industrial undertaking, a charity organization, or the like.
- a sum paid, often in accordance with a treaty, by one government to another to secure some service in return.
- a grant or contribution of money.
- money formerly granted by the English Parliament to the crown for special needs.
The definition does not claim that a subsidy is defined as not paying a certain amount in taxes."
( see link at bottom for the breakdown and explanation of specific "Subsidies" given to oil companies.)
"Now let’s analyze what the oil & gas sector pays in taxes. In 2012 the top two corporations paying federal taxes in the US were ExxonMobil and Chevron paying a combined total of $45.2 billion. On average, the industry pays a 45% tax rate when all state, federal, and foreign taxes are totaled up. By comparison the Healthcare Industry pays a total rate of 35% and the Pharmaceuticals pay an estimated rate of 21%. Based upon these numbers it’s hard to believe which business sector is criticized the most for “subsidies”.
Debunking Myths About Federal Oil & Gas Subsidies
In any presidential election year it is inevitable that candidates on both sides of the political spectrum will begin hailing or bashing tax breaks, subsidies, and regulations throughout the US business landscape.
www.forbes.com
Corporate taxes are foggy to say the least. What is true is we give oil and pharma companies huge subsidies and they make record profits. As to military contractors, that's just intentionally cryptic. We give them TONS on the books, and plenty more off the books. If balancing budgets and cutting expenditures is the primary goal, the pentagon is the first place to start. That place is a black hole for taxpayer dollars.Well if neocons and warmongers would quit getting us involved in every conflict on the globe defense spending would go down. It's still gotta be significant though. Drug companies are totally scamming the F out of all of us.
As for the oil companies, first we gotta wade through the BS and get to the real numbers. Then we can address restrictive regulations and excessive taxation.
"Before we break down the numbers behind the claims, let’s first define subsidy. According to Dictionary.com subsidy can be defined four ways:
- a direct pecuniary aid furnished by a government to a private industrial undertaking, a charity organization, or the like.
- a sum paid, often in accordance with a treaty, by one government to another to secure some service in return.
- a grant or contribution of money.
- money formerly granted by the English Parliament to the crown for special needs.
The definition does not claim that a subsidy is defined as not paying a certain amount in taxes."
( see link at bottom for the breakdown and explanation of specific "Subsidies" given to oil companies.)
"Now let’s analyze what the oil & gas sector pays in taxes. In 2012 the top two corporations paying federal taxes in the US were ExxonMobil and Chevron paying a combined total of $45.2 billion. On average, the industry pays a 45% tax rate when all state, federal, and foreign taxes are totaled up. By comparison the Healthcare Industry pays a total rate of 35% and the Pharmaceuticals pay an estimated rate of 21%. Based upon these numbers it’s hard to believe which business sector is criticized the most for “subsidies”.
Debunking Myths About Federal Oil & Gas Subsidies
In any presidential election year it is inevitable that candidates on both sides of the political spectrum will begin hailing or bashing tax breaks, subsidies, and regulations throughout the US business landscape.
Bassbob
Emissary
Healthcare and pharmaceutical companies get much more. And arguably their contribution to society is much more unnecessary. Half the drugs people are on, they shouldn't be on and they're only on them because their doctor got a kickback to prescribe it to them.
That's a very nuanced discussion and I don't think this is the place to have it.
I'll say one thing on government spending and tariffs then drop it: they're a complicated thing. I love Central and South America, as well as the Caribbean. The jungle, the people, the food, the culture, the more "wild" and free way of life, everything about it. I go there as often as I can. I'll refer to the island of Dominica for this. The last time I was there was just over two years ago. The place had one airport with one runway and it really didn't need anything more. Despite that, driving around the island there were plenty of signs about the new international airport being built by China. To be clear, Dominica is pretty much in our back yard, and China was flexing its muscles by giving them a facility they didn't need and couldn't afford on their own. That's what we used to do with USAID. It wasn't that we loved all the stuff the other countries were doing, it was investing in them so they liked us and didn't fall in with our enemies. USAID was the velvet glove on top of the iron fist of the Pentagon. By pulling away we are giving the world to China and Russia, and that's really bad for us. It's something to think about. What is really being done when we give a tiny fraction of our federal budget to finance an art exhibition or a play? Is it because we love that play or exhibition, or is it to make that country, such as a island easily within the range of MiamI to a light bomber, our friend instead of China's? Complicated and nuanced issues, to be sure.
That's funny, but Bob and I were having a good conversation.
Belt Fed
Ronin
Them cats are really good, i watched for ten minutes and neither lost a serve.
Most talented kitties! They probably didn't even need the paddles.
One of these days when I'm down your way I'm going to give you a shout. I get the sense we could have a good time shooting stuff and solving all the world's problems over a stiff drink.
Bassbob
Emissary
I’ll buy.
