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Simplification of the code, reducing the tax rates while closing credits and other end-arounds increase the revenue and also reduce government expenses in this way...
I imagine a tax form that can fit on a 3"x5" index card (I'm dating myself, there are probably no such things as index cards anymore). The increase in productivity per IRS employee would skyrocket, thereby, possibly justifying a reduction in staff.
It would definitely reduce the expenses of individuals and corporations, although it would reduce the work load of many tax accountants.
I completely agree it would reduce the expenses for individuals in corporations, but I dont for a second believe the IRS would reduce staff. Furthermore, the IRS processing is actually outsourced to 3rd party corporations, (Mellon Bank is one of them), so the IRS productivity wouldnt be adjusted. Even if it does allow more productivity of the IRS department, the reduce costs would be hardly noticed.
Actually no, she provided tax CREDITS for drilling which allows them to earn more profits in Alaska then somewhere else, not increased taxes. They are OPPOSITE of one another.
No. ACES increases tax on the oil companies, and you can read the reports on the Internet against this tax by the oil companies operating in Alaska. Just read why some oil companies opposed ACES.
No. ACES increases tax on the oil companies, and you can read the reports on the Internet against this tax by the oil companies operating in Alaska. Just read why some oil companies opposed ACES.
Actually that doesnt say that they increased taxes. It does say the obvious that as profits increase, so does tax revenues, but thats because we tax profits.
ACES maintains 40% credits for wells ACES broadens this program to grant 20% credits for more exploration wells ACES maintains 40% credits for seismic surveys ACES creates a NEW 5% credits for old seismic surveys
ACES was all about giving companies CREDIT to produce..
When Palin increases taxes (on one industry), it is "broadening the tax base", when Obama wants to increase taxes hes a socialist.
What is even the point in debating hardcore conservatives anymore? You guys divorced reality a long time ago.
Remember, these are the same nutcases that want to disband the Department of Education, and criticize Obama for allowing schools to waive federal standards of NCLB.
Remember, these are the same nutcases that want to disband the Department of Education, and criticize Obama for allowing schools to waive federal standards of NCLB.
You dont see anything stupid in having a department that sets standards, and then waiving those standards? Hell, I didnt criticize Obama for waiving them, but it does sound rather stupid to me to spend how many billions to have a department doing something that you are going to waive anyways.
ACES increases tax for oil production in Alaska. Our present governor (Sean Parnell) tried to reduce the amount of this tax in recent months, but was not successful.
Quote:
Current Alaska tax law, a populist measure passed early in Gov. Sarah Palin's term with the backing of Parnell, her lieutenant governor, increases the tax rate on oil production as prices rise -- something like a tax on windfall profits. With oil now more than $100 a barrel, the state has been raking in surpluses while oil companies are complaining they could keep more of their profits by drilling elsewhere. Parnell said he changed his mind about the tax law, Alaska's Clear and Equitable Share, or ACES, saying taxes rose too steeply with high oil prices.
ACES increases tax for oil production in Alaska. Our present governor (Sean Parnell) tried to reduce the amount of this tax in recent months, but was not successful.
So you are saying the Alaska state reports are all wrong? I'm betting they know more than you do on the subject.
AGAIN ACES maintains 40% credits for wells ACES broadens this program to grant 20% credits for more exploration wells ACES maintains 40% credits for seismic surveys ACES creates a NEW 5% credits for old seismic surveys
Its like someone needs to explain the math to you.. The companies got CREDITS, which increased profits, and when profits were increased, tax revenues increased. The fact that Sean Parnell wants to reduce them doesnt mean the credits do what they were designed to do, which is increase production to increase profits, to increase tax revenues.
So you are saying the Alaska state reports are all wrong? I'm betting they know more than you do on the subject.
AGAIN ACES maintains 40% credits for wells ACES broadens this program to grant 20% credits for more exploration wells ACES maintains 40% credits for seismic surveys ACES creates a NEW 5% credits for old seismic surveys
Its like someone needs to explain the math to you.. The companies got CREDITS, which increased profits, and when profits were increased, tax revenues increased. The fact that Sean Parnell wants to reduce them doesnt mean the credits do what they were designed to do, which is increase production to increase profits, to increase tax revenues.
Forget it, man
[DOC] ACES Oil Tax Law Overview - AOGA
www.aoga.org/wp-content/uploads/.../ACES-Oil-Tax-Law-Overview.docx (broken link)
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