Senate to vote tonight on ending tax breaks for big oil corporations

reply to post by HoldTheBeans

And the President scratches his noggin and says he also doesn't know why gas keeps going up. Innnnnnncredible.

reply to post by whaaa


I never said the U.S or anywhere else in the world had a free market. I said if, and we need.

Originally posted by Janky Red

We need a free market, that is why subsidizing oil is good for the American people.

How is subsidizing anything at all consistent with a free market?

Originally posted by Rockdisjoint
reply to post by whaaa

 

I never said the U.S or anywhere else in the world had a free market. I said if, and we need.

I know, my comment wasn't directed at you, but to the social and economic conservatives that live in the "American Dream"....with complete and absolute denial of how the system REALLY works.

reply to post by HoldTheBeans


Ever taken any accounting classes?

If not, profit is intentionally minimized to avoid paying taxes. You can make zero profit as a corporation and still make a lot of people insanely rich. This is because bonuses and salaries are "costs" that are subtracted from the money flowing in before "profit" is tallied.

Originally posted by HoldTheBeans
Exxon gets .02 cents profit off a gallon of gasoline. Look how much the states and fed is getting and you'll see who is looting the public.

Do you believe the accounting reports of Exxon? Wanna buy a bridge?

Exxon as well as all mega corps hire lawyers, creative accounting firms, all geared to gaming the system, and hiding the real profits. come on....schools out!

I say end all subsidies. No more money to these green endeavors either. Ethanol wouldn't even be around if it weren't for subsidies because it costs too much to produce. I won't even get into the fact we're using OUR food to make fuel when there's plenty to be had from other sources. Windmills, waste of time. Electric cars have to be charged somehow. DUH?? All this government funded stuff is done because it's not their money being used os if it fails who cares? Now if there is some viable energy source that is accessible and more cost efficient than oil/gas/coal then private companies will flock to get into it. There just isn't right now. So we are throwing money we don't have into a pit of green alternatives that have no chance to survive unless we the people put up the money to be lost and then to top it off our bills keep climbing. Only thing I've seen that could become something is algae. Of course subsidies are going to that too.

Originally posted by Illusionsaregrander

Originally posted by Janky Red

We need a free market, that is why subsidizing oil is good for the American people.

How is subsidizing anything at all consistent with a free market?

I was trying to be ridiculous like the GOP

reply to post by Janky Red


Ah. You did well. Sarcasm escapes me sometimes.

Originally posted by whaaa

Originally posted by HoldTheBeans
Exxon gets .02 cents profit off a gallon of gasoline. Look how much the states and fed is getting and you'll see who is looting the public.

Do you believe the accounting reports of Exxon? Wanna buy a bridge?

Exxon as well as all mega corps hire lawyers, creative accounting firms, all geared to gaming the system, and hiding the real profits. come on....schools out!

edit on 18-5-2011 by whaaa because: (no reason given)

Refinement
Marketing (some needs to market the stuff, I mean who needs gas?)
Distribution
Plus investing in the futures to increase their future


They build in the cost so each year they can demand more, how can you question that?

There is a cartel situation going on and oil is a big part of the problem

Wait until they figure out a way to own and sell air -

reply to post by Janky Red


They already tried to privatize rainwater. Bechtel, Bolivia.

I just worry that this cost will be passed down to the consumer. Though I certainly feel things are screwed up when the richest corporations get subsidies from the government ie: the citizens, just so they can screw us some more.

Sometimes I wonder if oil/gas companies/corporations should be abolished, and only run by the government until we move to much better energy.

Either that or all oil/gas corporations should be owned by every human on the planet. Sigh, I know, that sounds socialistic, but things sure are not working out the way we are doing it now, at least for the majority.

Harm None
Peace