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Old 06-08-2010, 04:19 PM
 
Location: OCEAN BREEZES AND VIEWS SAN CLEMENTE
19,895 posts, read 16,816,698 times
Reputation: 6456

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Oh you mean democrats can hike up tax. It seems all the Dems are good for is spend, spend and more spend, spin the reasons, why you have to spend. Remember when Obama was not going to raise any kind of taxes, HOGWASH.
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Old 06-08-2010, 04:21 PM
 
Location: San Diego, CA
4,883 posts, read 7,642,306 times
Reputation: 1905
Actually we don't end up subsidizing the price of crude as the price is set globally and the subsidies are too small to really effect total global demand. The net result is that we subsidize the profits of certain highly politically connected companies when there is no real reason to do so. The profits they make are already astronomically high so they will continue drilling where ever they can because there is that much money to be made doing it. So why should we wave all royalty payments the way the Bush administration did? Why should we wave taxes on sales of oil pumped from public lands the way the Bush administration did?

The reality is waving those royalty payments and taxes doesn't actually increase drilling at all and instead just cheats we the people out of money which is rightly ours since they're pumping our oil, oil they would have pumped anyway due to the previously mentioned extreme profits made by doing so.
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Old 06-08-2010, 04:22 PM
 
Location: San Diego, CA
4,883 posts, read 7,642,306 times
Reputation: 1905
Quote:
Originally Posted by california-jewel View Post
Oh you mean democrats can hike up tax. It seems all the Dems are good for is spend, spend and more spend, spin the reasons, why you have to spend. Remember when Obama was not going to raise any kind of taxes, HOGWASH.
Still no argument? Tax and spend vs don't tax but spend anyway. That's the reality of our political choices. Which one do you think puts our kids in more debt? Which one do you think is more irresponsible?
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Old 06-08-2010, 08:19 PM
 
1,891 posts, read 2,396,416 times
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Quote:
Originally Posted by Oerdin View Post
I'm not surprised you're unable to articulate a valid argument. Republicans seldom can.
Was that directed at me?
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Old 06-08-2010, 08:21 PM
 
Location: Great State of Texas
86,068 posts, read 76,852,967 times
Reputation: 27652
The problem is the higher taxes may put the little guy out of business. Then all you are left with are the few big guys who can put a stranglehold on oil.

For an example just look at the banks today. GS, JPM, BofA rule the roost.

Ag was strangled years ago..you got Cargill and Tyson calling the shots.

Forget the cry to get rid of big government, get rid of big business.
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Old 06-08-2010, 11:01 PM
 
41,823 posts, read 44,920,171 times
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Quote:
Originally Posted by Bagger View Post
I think that by not increasing the price of oil (removing our subsidies for it or taxing it more) means we'll be dependent upon it for a longer period of time. Why not subsidize alternatives or try something to make the use of alternatives more attractive? Maybe more tax incentives?
The subsidies the petroleum industry receive are fractions of a penny per gallon while the ethanol industry gets about 50 cents per gallon. At least those were the numbers in 2007.

Quote:
  • Table ES6.
  • Natural Gas and Petroleum Liquids
    • FuelConsumption(quadrillion Btu): 55.78
      Subsidization : $1,921 Million
      Subsidy per million Btu: $0.03
  • Ethanol/Biofuels
    • FuelConsumption(quadrillion Btu): 0.57
      Subsidization : $3,249 Million
      Subsidy per million Btu: $5.72

Source: Federal Financial Interventions and Subsidies in Energy Markets 2007
The tax they are talking about increasing here is a special tax that is already in place to help pay for a disaster like this. While I can support such a tax I have no illusion that is what the money will go for. The next big disaster comes along and they'll just want to increase it again... Note that this is only one of many taxes, there is also 18 cent tax at the pump on every gallon you purchase plus whatever your state is charging. About 50 cents on average nationally.

The bulk of the money you pay for oil products go to oversea states/companies for the raw product, the governement gets the next big chunk through taxes followed by US oil companies.
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