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The GOPs steadfast defense of corporate nihilism is only matched in idiocy by rank and file republicans who are too stupid to recognize that they are being royally hoodwinked and lulled into submission with false promises of joining the ranks of the rich if they only continue to give the rich and powerful all the tax breaks in the world even if it means destroying education, health care and the environment. One day you will all wake up and realize that you've been serving the wrong master.
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Our incentive to develop innovative technology has become a tax break worth billions of dollars to producers who practice the industry standard.
More than half the new wells in 2009 qualified for the exemption, almost all of them because they were drilled in shale.
If more than half of the industry qualifies, it is by definition not "extraordinary." The exemption is no longer an incentive -- it's a handout. One Barnett Shale producer got a $114 million tax break last year while raking in $4.6 billion in net earnings.
Repealing the exemption would bring in $2.4 billion in the next two years. That's enough to keep all the nursing homes open, preserve financial aid for needy college students and fill 20 percent of the $8 billion hole in public school funding.
Predictably, the gas drilling industry is digging in its heels to defend this exemption.
The position of state leaders is a bit more puzzling. They maintain that we don't have the money for "sacred cows," and the House budget underfunds public schools by $8 billion.
Apparently those "sacred cows" we don't have room for include our children.
Read more: Texas subsidizes gas drilling while cutting school budgets | Editorials & Opinions | Fort Wor... (http://www.star-telegram.com/2011/04/11/2992318/texas-subsidizes-gas-drilling.html#ixzz1JJxJOM5B - broken link)
Well yeeeeeeeeeehaw! God bless Texas! Remember this progressives/liberals/sane individuals, this the "Path to Prosperity," coming to a budget near you!
Well yeeeeeeeeeehaw! God bless Texas! Remember this progressives/liberals/sane individuals, this the "Path to Prosperity," coming to a budget near you!
What's the matter, they don't have calculators in GA? Do you think we can continue spending like we are?
Schools are funded through PROPERTY TAXES. Without industry, those home values would be in the toilet and the schools would be getting even less. Parents should pay MORE to educate their kids and leave the rest of us taxpayers alone.
What's the matter, they don't have calculators in GA? Do you think we can continue spending like we are?
And they don't have calculators in whatever.... you live in? Do you think that you can continue to give away money to companies that don't need it?
I don't have a principled problem with reducing government spending. You would have to as dumb as a doorknob to not recognize that there are many gross inefficiencies in both local, state and federal spending, but on the flip side if the issue is REALLY about deficits, which I doubt, then paying down the debt with taxes is without a doubt a necessary part of the equation.
It's a wise choice, considering what an abysmal failure public education has become. Any good investor knows to put his money where he's likely to get a return.
Change the entire philosophy and strategy of public education and I'll change my answer.
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