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US Treasury secretary attacks oil, gas tax breaks
Reuters ^ | Thu Mar 5, 2009 3:18am IST | Tom Doggett

Posted on 03/05/2009 5:53:37 AM PST by texrepub76

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To: mefistofelerevised
Your view may work at DU, but it don’t work here.

Yours appears to be the DU view.

All business taxes are hidden taxes on the consumer. Worse, the business tax permits the government to give tax breaks to certain businesses and tax penalties on other businesses. Thus the government, and not the free market, picks winners and losers. This is exactly what the article is about.

21 posted on 03/05/2009 6:18:02 AM PST by CharacterCounts (November 4, 2008 - the day America drank the Kool-Aid)
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To: mmichaels1970

Geithner has zero business talking about climate change. He needs to stop reciting the socialist garbage and come up with real solutions. If he studied the Great Depression, he’d know that raising taxes on ANYONE or ANYTHING at this time is NOT a solution.


22 posted on 03/05/2009 6:18:38 AM PST by chpmass
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To: texrepub76
U.S. oil and natural gas producing companies should not receive federal subsidies in the form of tax breaks because their businesses contribute to global warming, U.S. Treasury Secretary Timothy Geithner told Congress on Wednesday.

What about windfall subsidies for all the non-producing idiots you subsidize, Geithner?

I just saved a bunch of money on my con-game by switching to Geithner.

23 posted on 03/05/2009 6:19:00 AM PST by PGalt
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To: texrepub76
their businesses contribute to global warming

Someone who can't figure out turbotax should not be expected to comprehend science either.

24 posted on 03/05/2009 6:19:01 AM PST by palmer (Cooperating with Obama = helping him extend the depression and implement socialism.)
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To: Bob Buchholz; pnh102

Both of you are right....

Yes, consumers “pay” the tax a business incurs...as they will pass that expense on...

However, a business must also be careful not to pass the whole tax costs to consumers...as to not over-price itself away from its customers


25 posted on 03/05/2009 6:19:05 AM PST by UCFRoadWarrior (The Biggest Threat To American Soverignty Is Rampant Economic Anti-Americanism)
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To: 4rcane
no single industry should be subsidized or given preference anyway, they should be taxed the same

I think you are right. Higher oil and gas prices will help stimulate the economy.

26 posted on 03/05/2009 6:19:23 AM PST by CMAC51
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To: mmichaels1970

There are a couple of problems I have with his statements... the first is of course blatantly obvious... I now understand the dems position on abortion, they don’t want to encourage the production of more harmful CO2 gasses, why didn’t they say so in the first place../sarc.

How in the hell can “shared sacrifices” by any sector of the economy speed recovery? Unless of course he is referring to those sectors of the economy that produce next to nothing “sacrificing” their welfare checks and food stamps. However, I have a feeling he wasn’t referring to THAT sector of the economy... again /sarc.


27 posted on 03/05/2009 6:20:19 AM PST by zimfam007 (Courage is not simply one of the virtues, but the form of every virtue at the testing point.)
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To: mmichaels1970

How about Timmy and Bammy just go to junkscience.com and take the Prove Global Warming Challenge, prove global warming (er I mean climate change) is man made, collect the $500,000 reward and put that in the coffer to combat it?


28 posted on 03/05/2009 6:21:59 AM PST by texrepub76
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An eyepopping report on the full range of subsidies, federal and state, is in the report “Biofuels: At What Cost. Government Support for Ethanol and Biodiesel in the United States” at http://www.globalsubsidies.org/IMG/pdf/biofuels_subsidies_us.pdf http://www.globalsubsidies.org/en/research/biofuel-subsidies


29 posted on 03/05/2009 6:23:02 AM PST by anglian
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To: texrepub76

USA OIL IMPORTS http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html


30 posted on 03/05/2009 6:24:04 AM PST by anglian
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To: texrepub76; All

The Implications of Biofuel Production for United States Water Supplies
The National Academy of Sciences recently published a report titled “Water Implications of Biofuel Production in the United States”. The paper outlines impacts and limitations on both water availability and water quality that would follow the pursuit of a national strategy to replace liquid fossil fuels with those made from biomass. COMMITTEE ON WATER IMPLICATIONS OF BIOFUELS PRODUCTION IN THE UNITED STATES http://www.theoildrum.com/node/3285


31 posted on 03/05/2009 6:24:55 AM PST by anglian
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To: texrepub76

I’m not as good an activist as I should be but I just found out we passed SJR 10 which affirms Oklahoma’s sovereignty. Nancy Pelosi will get a letter saying:

THAT the State of Oklahoma hereby claims sovereignty under the Tenth Amendment to the Constitution of the United States over all powers not otherwise enumerated and granted to the federal government by the Constitution of the United States.
THAT this serve as Notice and Demand to the federal government, as our agent, to cease and desist, effective immediately, mandates that are beyond the scope of these constitutionally delegated powers.
THAT all compulsory federal legislation which directs states to comply under threat of civil or criminal penalties or sanctions or requires states to pass legislation or lose federal funding be prohibited or repealed.


32 posted on 03/05/2009 6:25:18 AM PST by demshateGod (The fool hath said in his heart, There is no God.)
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To: texrepub76; Entrepreneur; Defendingliberty; WL-law; Genesis defender; proud_yank; FrPR; ...
 




Beam me to Planet Gore !

33 posted on 03/05/2009 6:31:14 AM PST by steelyourfaith (Yo, Washingtonians, the American people called. They DEMAND their country back.)
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To: texrepub76

Well dont forget that we are now going to Cap and Trade the electricity companies driving up electricity prices., Then we are going to put the coal powered power companies out of business.

I am going to join the Amish community, might as well , pretty soon we will have no gas and no electricity anyway.


34 posted on 03/05/2009 6:36:24 AM PST by Venturer
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To: UCFRoadWarrior
However, a business must also be careful not to pass the whole tax costs to consumers...

There's no way a business can do this. A business' sole source of income is its customers. The customers pay the entire overhead cost of a business, including all taxes, in the prices for all of their products.

35 posted on 03/05/2009 6:39:08 AM PST by pnh102 (Save America - Ban Ethanol Now!)
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To: pnh102
The customers pay the entire overhead cost of a business, including all taxes, in the prices for all of their products.

You're 100% right. Why would a company operate at a loss?

36 posted on 03/05/2009 6:41:55 AM PST by Neverforget01 (Mr. Obama, your agenda is not new, it is not change, it is not hope...... Rush)
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To: pnh102
A business' sole source of income is its customers.

Unless you're in "green-tech", then you get stimulus money as well.
37 posted on 03/05/2009 6:42:35 AM PST by mmichaels1970
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To: texrepub76

Presidential Petroleum Prejudice
Obama’s budget discriminates against oil and gas producers.
2 March 2009

http://www.city-journal.org/2009/eon0302ms.html


38 posted on 03/05/2009 6:47:55 AM PST by anglian
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To: CharacterCounts

“All business taxes are hidden from the consumer.” No Bob, I have a business and pay taxes. What you mean by “hidden” is a mystery. Do you mean the prices are higher because a business pays taxes and are you assuming that taxes don’t hurt a business? Your statement is like another one a poster posted a while back that “employers don’t pay payroll taxes, employees pay them.” So you are assuming that profits are not taken in taxes and that all employers and businesses are getting rich off the consumer.
Well I need to go to work at my business now to try a catch up on the past due taxes and penalities I’ve accumulated by paying late so I can keep my business going. Good bye Bob.


39 posted on 03/05/2009 6:50:22 AM PST by mefistofelerevised
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To: mmichaels1970
Unless you're in "green-tech", then you get stimulus money as well.

Or GM, Chrysler and most major banks. But none of those are businesses anymore either.

40 posted on 03/05/2009 6:53:52 AM PST by pnh102 (Save America - Ban Ethanol Now!)
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