Obama wants to tax DIRT now!

Wonder when water, air, love and happiness will be taxed?

President’s Dirt Tax is Counterproductive to Job Creation & Global Competitiveness.

Here we go again, another proposed tax that will negatively affect domestic mineral production because some politicians do not understand what the mining industry provides. Obama’s new dirt tax plans to tax every ton of dirt moved by the mining industry in hopes of lowering the national deficit. The proposed tax, applicable to all mining operations, goes beyond a tax on the amount of minerals removed from the ground to a tax on all dirt, rock and other materials moved during the extraction process.

Full Article Here

reply to post by proob4


this makes you angry?

why shouldnt the mining industry be heavily taxed?

its better to see the big companies taking a hit for once rather than the little man like you or i..

you have to understand the american government has a huge deficit that needs to be addressed.. they will need to make this money somehow.. and if they dont take it from the companies they take it from YOU

reply to post by Misterlondon

you have to understand the american government has a huge deficit that needs to be addressed.. they will need to make this money somehow.. and if they dont take it from the companies they take it from YOU

Isn't the tax expense passed on to the consumer through higher prices for materials? In the end, the burden IS on the consumer [(You and I)IMO]

This is what irks me, we speak of the msm and how fake it is.
Then we continually cite it as if it were fact.
Rather than a media link, could you provide a bill number?
Whether congress, senate, presidential, Etc. it must be on a bill of some type.
That is where you will find some truth.
So, anyone read the bill?

reply to post by Misterlondon


You really think taxing mining companies for moving dirt is going to fix a mathematically impossible deficit to pay off and not increase prices on the small consumer?

Get real please.

reply to post by occrest

Isn't the tax expense passed on to the consumer through higher prices for materials? In the end, the burden IS on the consumer [(You and I)IMO]

yes it does but alot less than if it were directly taken from us.. and its good to see these big companies that make billions whilst destroying the planet take a direct hit, instead of the usual tax breaks (which we ultimately end up paying for them)

There will always be competition out there with other mining operations around the world.. they will need to keep their prices competitive otherwise people will shop elsewhere, so the cost passed on to us will be pennies rather than pounds...

Originally posted by Misterlondon
reply to post by proob4

 

this makes you angry?

why shouldnt the mining industry be heavily taxed?

its better to see the big companies taking a hit for once rather than the little man like you or i..

you have to understand the american government has a huge deficit that needs to be addressed.. they will need to make this money somehow.. and if they dont take it from the companies they take it from YOU

The mining industry is already heavily taxed on all minerals recovered as well as having some of the highest workers compensation insurance requirements in all industrial fields.

The point is that all soil and rock moved in the process of recovering said heavily taxed minerals will be taxed separately from the minerals themselves. This would significantly increase an already heavy tax burden.

IMO, this would be one of the more stupid taxes to occur, close behind the US income tax.

Originally posted by mnmcandiez
reply to post by Misterlondon

 

You really think taxing mining companies for moving dirt is going to fix a mathematically impossible deficit to pay off and not increase prices on the small consumer?

Get real please.

edit on 12/10/2011 by mnmcandiez because: (no reason given)

Get real?? you got a bloody cheek mate...

Firstly i didnt say this will solve all the deficit problems.. anyone in the REAL world will understand there is a big problem which needs to be addressed. They cant just sit on their ass and do nothing, they have to try and solve it, no matter how impossible it may seem. This goes some way to help..

in reference to you consumer prices comment please read my previous comment.. i addressed that point there...

reply to post by gamesmaster63


yes but you failing to mention the tax breaks in other areas..

The industries that benefit from special tax breaks for polluting activities are diverse and include:
* Chemicals-Polluters can write off almost all the costs of cleaning up hazardous substances, including lawyer fees. Companies that spill oil and dump toxic wastes receive this tax subsidy even when the actions are intentional or the result of gross negligence.
* Mining-The industry enjoys outright tax subsidies for mining toxic substances such as lead, mercury and asbestos. These subsidies can exceed the value of the owner's investment in the mine.
* Oil & Gas-The oil and gas industry enjoys the best targeted tax treatment available to any industry. For example, investors can write off "passive" losses from oil and gas investments but not from investments in other industries.
* Agribusiness-The tax code provides tax breaks to huge, chemical-intensive agriculture without helping small farmers nor promoting sustainable agricultural practices.
* Timber-Special tax benefits for the industry drive up profits but do nothing to promote sustainable forestry. For example, special rules permit timber companies to deduct capital costs immediately while other businesses cannot deduct such costs.
At a time when there are no guarantees of government support for the poor, the young or the infirm, one might ask whether there should be guarantees of government support for businesses, particularly those that degrade the natural environment and threaten health.

link

just a small example of a few above, i really cant be bothered to go searching and give you a comprehensive list..
They get many tax breaks and reliefs.. the mining industry is one of the biggest profit making industries on the planet.. they cause untold destruction..

Why shouldnt they be heavily taxed? why should all these big profit making companies in the top 100 get tax breaks and pay virtually nothing, when we get hammered..

its about time they were forced to pay..

The government has a problem with a deficit because the government spends more than it is taking in. Cut government and cut the costs of government. The US Government is running into the same problem all of the big industries and munincipalities are facing with retirement plans and benefits it can not manage....ie more going out than coming in by way of Social Security and medicare.

If the mining companies are taxed even more...where do they pass the costs to...who pays for the tax increases... the consumer. For instance, PCS mines phosphates by literally removing the top 50 feet of soil...and produces phosphoric acids in Aurora, NC. These items go into everything... soft dribnks, detergents, snacks, production industry, etc... what is going to happen? The ingredients go up...the price at the shelf goes up

So who is really paying the tax then? And when PCS phosphoric acid is replaced with a low cost alternative source... what happens? PCS probably shuts down... thousands of workers in Beaufort and Pamlico county lose their jobs. These counties are already struggling... now the US Fed govt has thousands of new unemployment checks to send...thousands of more food stamps to send, thousands of more Medicade payments to make to poor children... and no taxes to collect from a mine that shut down...thus the deficit grows even deeper.

Why cant we just start taxing churches?? We would make tons of money. TONS.


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reply to post by AlreadyGone

this proposal would result in at least $1.8 billion of increased taxes on domestic hardrock mining over the next ten years.

from the op's article... 1.8 billion taxes over 10 years.. its hardly going to break the bank for these guys is it? just a small cut in their profits

all im saying is the hole in the deficit needs to be filled somehow and it is good to see the big companies pay for once, rather than directly at us.
the cost passed on as i stated before is pennies rather than pounds.. and they need to stay competitive in the market, everything has a value and a price, if they hike it up to much people will take their business elsewhere..

the companies involved will ultimately take the hit..

Originally posted by Misterlondon
reply to post by proob4

 

this makes you angry?

why shouldnt the mining industry be heavily taxed?

its better to see the big companies taking a hit for once rather than the little man like you or i..

you have to understand the american government has a huge deficit that needs to be addressed.. they will need to make this money somehow.. and if they dont take it from the companies they take it from YOU

Because no person or company should be heavily taxed just because.
Not to mention that the tax is pushed to the costs of overhead, and the end product price goes up, so the consumer pays the difference.

reply to post by proob4


please consider that from an environmental POV this will promote more efficient mining ?

OIL !!!
thats why they are doing this.
to make it so we only use Oil.
and they are crazy.

reply to post by AlreadyGone


When the mining industry goes bankrupted is OK, we will have China taking over as usual.

You are right, what people doesn't understand about economics is that you can no pay your debt if you spend more than you earn, is very simple to understand, but in this day and times that is how most Americans does live beyond their means with loans and credit, just like the government does, but while Americans can not make their own money the government does

American debt is beyond fixing without collapsing the entire system and robbing the citizens from their pensions funds, retirement and entitlement programs. Like the EU is trying to do but they call it, "Austerity" and still is not working because the people will never agree with it without revolution

Originally posted by occrest
reply to post by Misterlondon

 

you have to understand the american government has a huge deficit that needs to be addressed.. they will need to make this money somehow.. and if they dont take it from the companies they take it from YOU

Isn't the tax expense passed on to the consumer through higher prices for materials? In the end, the burden IS on the consumer [(You and I)IMO]

By that "logic", no companies should pay taxes...thanks for showing you're a corporate sock puppet

Originally posted by marg6043
reply to post by AlreadyGone

 

When the mining industry goes bankrupted is OK, we will have China taking over as usual.

You are right, what people doesn't understand about economics is that you can no pay your debt if you spend more than you earn, is very simple to understand, but in this day and times that is how most Americans does live beyond their means with loans and credit, just like the government does, but while Americans can not make their own money the government does

American debt is beyond fixing without collapsing the entire system and robbing the citizens from their pensions funds, retirement and entitlement programs. Like the EU is trying to do bud they call it, "Austerity"

and still is not working because the people will never agree with it without revolution

What makes you think they will go bankrupt?

This will drive up prices on American gemstones. If I want to buy one of the secondary gemstones, such as labradorite, or a yellow sapphire or something, the cost of the stone is more already, because Americans have to pay so much more to get them out of the ground. And a little OT comment: The Chinese are buying gemstones up amazingly fast.........everybody's wondering, what's up with that? When they go to a gem show, they are not just purchasing a few stones here, and a few stones there like most jewelry manufacturers, nor are they negotiating price. They will buy the entire booth for the asking price per stone! How strange is that?
..........And I'm talking expensive stones too. Some of them $3,000 each. And they will buy the whole booth!
[/rant]

Do you have any other information regarding this "DIRT" tax?

A proposed bill? A speech? An official release? Anything?

Because I can't find anything...the only thing I find is another blog saying that the "Super Committee" is talking about this...back in November. But I can't find another article to confirm that.