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GOP Blocks Obama's Effort To End Tax Breaks For Big Oil

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posted on Mar, 29 2012 @ 08:07 PM
link   
www.washingtonpost.com...


President Obama on Thursday called on Congress to end tax breaks for oil companies in a populist speech that sought to turn the blame for gas prices nearing $4 a gallon back onto his Republican critics.

In fiery, campaign-style remarks delivered from the Rose Garden, Obama told lawmakers that they can “stand with big oil companies, or they can stand with the American people.”

Senate Democrats followed by forcing a vote to end tax cuts for the five largest oil companies, which Republicans resoundingly defeated.


We all know that this is all campaign BS, but seriously... ending tax breaks for the oil companies would generate some pretty significant revenue.

In the area of $24 Billion at the minimum...

thinkprogress.org...


– The 47 senators voting against the bill have received $23,582,500 in career contributions from oil and gas. The 51 senators voting to repeal oil tax breaks have received $5,873,600.

– Overall, Senate Republicans have taken $23.2 million in oil and gas contributions. Democrats received $6.66 million.

– Since 2011, Senate Republicans have voted seven times for pro-Big Oil interests and against clean energy three times.


Now, I am neither pro Rebup, or pro Dem... I am pro American.

But this just goes to show we need to get money and lobbying out of government, no matter what side it is on.
edit on 29-3-2012 by YouAreLiedTo because: fixed tags




posted on Mar, 29 2012 @ 08:19 PM
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You're right. Lobbying and corruption go hand in hand. We need to change how campaign contributions are made. I think there should be a common fund that anyone can contribute to that would be divided among all candidates regardless of party. No direct contributions should be allowed.

As for personal gifts, government employees shouldn't be allowed to accept personal gifts valued at over $1000.

I'm sure there are other things that can be done. These are just my ideas.



posted on Mar, 29 2012 @ 08:20 PM
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Originally posted by YouAreLiedTo


But this just goes to show we need to get money and lobbying out of government, no matter what side it is on.
edit on 29-3-2012 by YouAreLiedTo because: fixed tags


This would be a MAJOR step in turning this country around. Ive been saying it for years.



posted on Mar, 29 2012 @ 08:23 PM
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Give Obama what he wants. Gas prices go over $5.00 a gallon, and he is a 1-term President.

Obama knows people (his supporters), in general are suckers. Act tough with the big villainous oil companies knowing (and hoping) that no way this gets done. Reminds me of his budget that got voted down 414-0 earlier today. Why would you put out a budget knowing that it has no chance of passing?

You people really thing that the approximate 2 billion dollars of profit not taken from oil companies are going to reduce the debt? Chances are it would be packaged up and sent to another alternative energy gimmick company and then a few months later they go bankrupt (think Soyndra).



posted on Mar, 29 2012 @ 08:30 PM
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Originally posted by Carseller4
Give Obama what he wants. Gas prices go over $5.00 a gallon, and he is a 1-term President.

Obama knows people (his supporters), in general are suckers. Act tough with the big villainous oil companies knowing (and hoping) that no way this gets done. Reminds me of his budget that got voted down 414-0 earlier today. Why would you put out a budget knowing that it has no chance of passing?

You people really thing that the approximate 2 billion dollars of profit not taken from oil companies are going to reduce the debt? Chances are it would be packaged up and sent to another alternative energy gimmick company and then a few months later they go bankrupt (think Soyndra).


The point is subsidies for companies that are making record profits is probably a good place
to start broaching the concept of fiscal responsibility.



posted on Mar, 29 2012 @ 08:30 PM
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mr boehner, the check is in the mail



posted on Mar, 29 2012 @ 08:38 PM
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Originally posted by braindeadconservatives

Originally posted by Carseller4
Give Obama what he wants. Gas prices go over $5.00 a gallon, and he is a 1-term President.

Obama knows people (his supporters), in general are suckers. Act tough with the big villainous oil companies knowing (and hoping) that no way this gets done. Reminds me of his budget that got voted down 414-0 earlier today. Why would you put out a budget knowing that it has no chance of passing?

You people really thing that the approximate 2 billion dollars of profit not taken from oil companies are going to reduce the debt? Chances are it would be packaged up and sent to another alternative energy gimmick company and then a few months later they go bankrupt (think Soyndra).


The point is subsidies for companies that are making record profits is probably a good place
to start broaching the concept of fiscal responsibility.


You realize for every gallon of gas sold the government makes more profit than the oil companies do?

You also realize that government mandates they have a summer blend of gasoline that must be used, and that is not cheap to produce?

You realize that many companies get tax breaks (GE).?

You realize that when the government gives someone a tax break they aren't giving them any extra money, all they are doing is letting them keep what they have already earned?

I don't think many people realize any of this, that is how we get idiots like Obama in the White House.



posted on Mar, 29 2012 @ 08:38 PM
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Time to start scaling taxes to profits......cut the guts out of little peoples taxes...under 60,000 pay nothing....
Tax the oils tax the rich, tax the churches, tax the corporations big time.....tax the banks the most!
If they squeel tax them some more.....



posted on Mar, 29 2012 @ 08:41 PM
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reply to post by YouAreLiedTo
 


This makes it really obvious how much big oil companies control...Truely Sick

Hopefully their day will come some in the form of free energy. That will be when big oil will learn what it is to no longer be in control.

This is absolute BS.

Thnx for the post
SnF
edit on 29-3-2012 by HumanoidX because: (no reason given)



posted on Mar, 29 2012 @ 08:50 PM
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You know, I'm all for ending the help and welfare of Big Oil..but can the Goober in Chief pick *ANOTHER* time for this? The Oil companies already have enough reasons to point to higher prices as justified. Some of those are already from this President. Do we NEED to add another excuse for Exxon/Mobile or BP to raise another $0.25 or more in per gallon profits?

That is all this would do..I hope no one is delusional about thinking this will actually change anything for the better. The money involved is peanuts and laughable to the numbers we're dealing with for national debt and spending. Congress spends more on their extra benefits on Capital Hill than the Oil Companies get.

if we cut them off..NOW of ALL times..it won't stop them from claiming the value of the benefits were SO MUCH MORE though, and so, they're really sorry to have to break it to us all....but another buck or two in pump price is coming quick. At least...that is what we could have expected if cuts went through at this MOST unfortunate moment in history.


People ask if the President can lower prices..and I say, it's not that easy.

However..can the President cause prices to GO UP? Now that IS easy...and he almost did it right here, again.



posted on Mar, 29 2012 @ 08:51 PM
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Originally posted by Carseller4
Give Obama what he wants. Gas prices go over $5.00 a gallon, and he is a 1-term President.

Obama knows people (his supporters), in general are suckers. Act tough with the big villainous oil companies knowing (and hoping) that no way this gets done. Reminds me of his budget that got voted down 414-0 earlier today. Why would you put out a budget knowing that it has no chance of passing?

You people really thing that the approximate 2 billion dollars of profit not taken from oil companies are going to reduce the debt? Chances are it would be packaged up and sent to another alternative energy gimmick company and then a few months later they go bankrupt (think Soyndra).


The oil companies are getting what they want now and gas is four bucks a gallon. People will never understand what the president does is meaningless oil companies will charge what they want because they can.

I would much rather the two billion go into looking for alternative power sources than go to line the pockets of people willing to go to war over oil.



posted on Mar, 29 2012 @ 08:54 PM
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Originally posted by Carseller4


7 of the top 10 highest annual earning in the HISTORY
of mankind have been in the last ten years and are
in the oil and gas industry.


It is just so sad when conservatives rail about welfare and
big spending and then defend it when it applies to the most
opulent in society...




edit on 29-3-2012 by braindeadconservatives because: (no reason given)



posted on Mar, 29 2012 @ 09:02 PM
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Originally posted by Carseller4

You people really thing that the approximate 2 billion dollars of profit not taken from oil companies are going to reduce the debt? Chances are it would be packaged up and sent to another alternative energy gimmick company and then a few months later they go bankrupt (think Soyndra).


$24 billion...

Not $2 billion.

$24 billion could go a hell of a long way toward alternate energies, the education system, roads, healthcare...

You know, other stuff that matters other than giving the richest industry in the world more money.

Hell, use it to pay off the bad mortgages in the country.

ANYTHING would be more productive than giving the money right back to the companies that are making the most money in history.

Offer $10 million dollar prizes for significant breakthrough in the free energy market. Watch what people can come up with.

ANYTHING would be better.



posted on Mar, 29 2012 @ 09:17 PM
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Originally posted by Carseller4
Give Obama what he wants. Gas prices go over $5.00 a gallon, and he is a 1-term President.

Obama knows people (his supporters), in general are suckers. Act tough with the big villainous oil companies knowing (and hoping) that no way this gets done. Reminds me of his budget that got voted down 414-0 earlier today. Why would you put out a budget knowing that it has no chance of passing?

You people really thing that the approximate 2 billion dollars of profit not taken from oil companies are going to reduce the debt? Chances are it would be packaged up and sent to another alternative energy gimmick company and then a few months later they go bankrupt (think Soyndra).


The idea isn't to reduce the debt. The idea is that the middle class would not have to make up for 24 billion being lost.

This is the part of the argument that the GOP refuses to accept. This economy suffers because the middle class pays the brunt of the taxes and has no expendable income. How are we to shop or send our children to college when big oil get breaks and we make up for it with higher taxes and longer hours? This is what the president means by "fair share". If the custodian pays 30% of his income to Uncle Sam then I'm pretty sure Oil companies can afford the same. No, they wouldn't be forced to lay everyone off. That's greed, not necessity.



posted on Mar, 29 2012 @ 09:33 PM
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The Government gets 50 cents for every gallon sold in this country there are about 20 million barrels of oil used in the us every single day 365 days a year which the government gets right off the top.

Which adds up to over 3 billion a year which amounts to those so called tax credits.

The biggest bunch of BS is giving big oil money they arent giving them crap at least they are making money unlike green corporations which have failed and they still throw billions actually they are throwing more that green subsidies than for oil.

And when the GOP only control 1/3 of the Government people do need to know what they are talking about because when they say idiotic statements like "gop blocks".

They are lying and they know they are lying.


Edit to add all the idiotic talk and hating big oil is the reason in less than a decade the largest BIG OIL CORPORATION IS PETRO CHINA.

and there aint a damn thing you can do about that except create more of them is what you people are doing when you support the stupid idiotic rantings of Obama who doesn't know a damn thing about finance and making money.

edit on 29-3-2012 by neo96 because: (no reason given)



posted on Mar, 29 2012 @ 09:33 PM
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This is what pisses me off about the GOP. They will fight tooth and nail to keep these subsidies....but at the same time they will try to privatize medicare or social security...or slash other programs that help the middle class and poor.

AND PEOPLE DEFEND THIS CRAP. People on ATS defend this nonsense. How in hell can someone side with gigantic oil companies raking in billions of dollars.

Every week one day of my salary goes straight to gasoline. That's BS. And if people think the answer to fixing this is to not only continue to give them taxpayer money...but also to cut their frickin taxes while the rest of us get F'd...you need to visit a mental ward.

People are so stupid in this country they don't know how to even defend their own best interests..and they screw their neighbors and members of their own family because tv or their political party tells them too.
edit on 29-3-2012 by David9176 because: (no reason given)



posted on Mar, 30 2012 @ 12:02 AM
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reply to post by YouAreLiedTo
 


Repubs know that the Government and Oil walk hand in hand.. don't bite the hand that feeds you: The oil industry is one of the largest sources of revenue for Federal and State governments. If you make the business environment hostile there are things the oil companies could do to really ### us over. I always figured Democrats trying to play hardball with oil companies was either an inside joke that we haven't figured out yet.... or they have no idea what they're doing.



posted on Mar, 30 2012 @ 12:03 AM
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reply to post by David9176
 


PPssssttttt... hey David.. I'll let you in on a secret: The price of oil is almost entirely influenced by Federal monetary policy.

Nothing to do with Oil companies, though it does make their profits larger (and thus governments revenue as well..)



posted on Apr, 1 2012 @ 09:14 AM
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reply to post by YouAreLiedTo
 





posted on Apr, 1 2012 @ 09:16 AM
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Originally posted by Wrabbit2000
You know, I'm all for ending the help and welfare of Big Oil..but can the Goober in Chief pick *ANOTHER* time for this? The Oil companies already have enough reasons to point to higher prices as justified. Some of those are already from this President. Do we NEED to add another excuse for Exxon/Mobile or BP to raise another $0.25 or more in per gallon profits?

That is all this would do..I hope no one is delusional about thinking this will actually change anything for the better. The money involved is peanuts and laughable to the numbers we're dealing with for national debt and spending. Congress spends more on their extra benefits on Capital Hill than the Oil Companies get.

if we cut them off..NOW of ALL times..it won't stop them from claiming the value of the benefits were SO MUCH MORE though, and so, they're really sorry to have to break it to us all....but another buck or two in pump price is coming quick. At least...that is what we could have expected if cuts went through at this MOST unfortunate moment in history.


People ask if the President can lower prices..and I say, it's not that easy.

However..can the President cause prices to GO UP? Now that IS easy...and he almost did it right here, again.




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