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Senate blocks bill repealing $2 billion in oil tax breaks

liblady

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Senate blocks bill repealing $2B in oil tax breaks - Politics - Capitol Hill - msnbc.com


why? why? why do we give companies with record profits tax breaks, especially now?
how can the people who voted against this bill, in good conscience, suggest we cut, say, head start programs and food stamps?
 

Have you read the thread? The "tax breaks" are on FOREIGN EARNED INCOME!!! If you pay taxes on income earned in another country IN THAT COUNTRY, why should you pay taxes AGAIN on that same income???
 
Have you read the thread? The "tax breaks" are on FOREIGN EARNED INCOME!!! If you pay taxes on income earned in another country IN THAT COUNTRY, why should you pay taxes AGAIN on that same income???

i read it.......and i didin't find that part. can you point it out please? and then read this:

 

All tax hikes, and this would be a tax hike, aren't paid by the company. Economics 101. Raise taxes on "eeeeevvvvviiiiilllll" oil companies, and they pass that on to us. Not really a brilliant move to begin with, however... in this moment when gas prices are effecting EVERYONE, who gets hurt more when gas prices go up? Hmmm?

Head Start is crap, and Food Stamps are more often then not, waste and fraud affairs.
 
why? why? why do we give companies with record profits tax breaks, especially now?
how can the people who voted against this bill, in good conscience, suggest we cut, say, head start programs and food stamps?

Why do people choose to cut their grochery budget or stop going to the movies every other weekend instead of robbing a 7-11?

We don't raise taxes on people who are doing well because of the notion that there's no reason the government should be taking their money and penalizing them for being successful. The notion of cutting spending on food stamps, head start, the military, or anything else is the belief that the government needs to get its own failure of a budget under control before it starts trying to punish people or things that are successful to get around its own failures.
 

please show that head start is crap. as for food stamps, yes , i am sure there is fraud, but people are still FED.
 
please show that head start is crap.
I give you, THE OBAMA ADMINISTRATION!! Drum Roll Please!
Obama Administration Report Shows Head Start Ineffective | The Foundry

Head Start study shows no lasting gains
Busting Myths About Head Start's Effectiveness | First Five Years Fund
Head Start Earns an F
Evidence Is Clear: Head Start Is Ineffective


as for food stamps, yes , i am sure there is fraud, but people are still FED.

Who cares about fraud and waste! People be getting foods! :roll:
 
please show that head start is crap. as for food stamps, yes , i am sure there is fraud, but people are still FED.

Liblady: Puts the FED back in FED eral government.
 
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i did not know about this study.....but find a little comfort in this:

In sum, this report finds that providing access to Head Start has benefits for both 3-year-olds and 4-year-olds in the cognitive, health, and parenting domains, and for 3-year-olds in the social-emotional domain.

thanks for pointing this out. perhaps this program needs to be reconsidered, although i can't imagine why it would not benefit kids. makes no sense to me.
 
now that i have the study up......i am changing my mind. seems your source didn't really mention ALL the benefits associated with head start. i am reading further.
 

i do not believe we need to provide subsidies for industries that post record porfits, year after year after year after year. NOT when we can't balance our budget. EVERYTHING should be on the table.
 
With fewer tax Subsidies to oil companies, the price of oil would more close reflect it's real cost. Taxes could go toward innovative mass-transit and clean energy.
Our plan for energy, left in the hands of private profiteers will continue milk us for every tenth of a penny possible while making rich Saudi Princes and Major Wall Street shareholders to whom quality and safety standards are always secondary to the bottom line.

These same Wall Street shareholders are THE major influencers of our few political parties, news networks, banks, etc... Not just American corporations
they are a world wide conglomerate of big business executives, very successful at spreading their choice form of free enterprise capitalism from Luxembourg to China and Iraq. They are now cutting Education and Medicaid and Parks, Etc. Because it will immediately make them money.
 
Are we talking about subsidies or tax breaks? I agree, we shouldn't be providing financial assistance to oil companies, I agree with you there. But to me that's significantly different then charging them less in taxes or, as one poster stated and if its true, attempting to tax them on money on income that wasn't even earned in the United States and is already taxed elsewhere.
 
this is Not conspiracy theory, it's hegemony, it's class totalitarianism. Look at the numbers, how much of the wealth is increasingly more consolidated in the properties and off-shore accountants of the very few??
 

well, that poster hasn't provided and link or proof to what he asserted, so i can't comment. as for subsidies or tax breaks, in this case i think they are one and the same. aren't a lot of subsidies provided through tax breaks? isn't that how we subsidize most everything, through tax breaks?

as i said, everything should be on the table. especially breaks to oil companies who slow down production to raise prices.
 
tax-breaks are subsidies. That Poster had no basis for his claim that this income is already taxed in the other country, he went for that fallacy because it is the size of a watermelon and makes a for a simple deterrent. In these other countries our nationals often have very nice deals set up with the local monarchies/dictators, or in more established "democracies" we break down local tariffs with Free-Trade agreements. They get the oil out of sand leaving Rolls Royces and indoor ski hills. The Executives take huge profits, the speculators and day traders do too. We complain about 4 dollars a gallon while in Europe they've been paying over twice that for long time.
 
liblady, for the 100billion we've spent, you have to ask yourself "Has it been worth it?"

A small benefit that has no lasting impact? The answer is, not just no, but hell no.
 
If we are going to reduce the budget, then not only the poor must feel the pinch. Big oil and the rich must as well. Gas prices are spiking regardless of the tax breaks, to say the subsidies are keeping prices low is ridiculous, simply corporate welfare, which is still welfare.
 


Silly man, companies don't pay taxes, the consumers of their products do with higher costs. Unless you believe in price controls too...
 
Because it's symbolism over substance; it's the notion that throwing money at a problem will solve it. Head Start as a solution, is obviously not working nor well conceived. Setting aside the argument that the fed govt shouldn't be doing this anyway, if a program doesn't work it should be eliminated.
 

Then I suppose my home mortgage tax deduction is also welfare.
 
ludahai said:
Have you read the thread? The "tax breaks" are on FOREIGN EARNED INCOME!!! If you pay taxes on income earned in another country IN THAT COUNTRY, why should you pay taxes AGAIN on that same income???
ludahai said:
It was in a link I posted earlier today...


Your link was to a bill being discussed about dual-capacity taxpayer rules. Totally different and separate from this particular bill repealing tax breaks.

The part in this bill that pertained to foreign taxes would have been to end their deductions for taxes paid to foreign governments, not double tax their foreign income.
 
I don't believe in subsidizing an industry that's profitable. If the claim is the free market system will adjust to consumer demands, then let the markets do what they do and stop giving tax breaks to companies within certain industries that don't need them.

Big oil received their tax breaks to spur job growth when oil was a cottage industry. Now that they've proven they can be self-sustaining, it's time to cut the damned umbilical cord.

You want your tax dollars to be used the right way to bring down the national debt? Well, here's one way to do it. More to the point, some folks have complained about the government providing tax dollars for private companies to conduct research and development. Well, if you really feel that way then you shouldn't have a problem with eliminating the tax cuts to big oil because all they're really doing with the money (besides paying big bonuses to their shareholders or corporate execs which is fine if they're doing so from their corperate earnings) is conducting research to fine new oil reserves or innovations in drilling techniques. Can't they do such on their own dime and not using taxpayer dollars? Let's not be two-faced about it.
 
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