Obama lie: Oil company business expenses are “tax giveaways”

Radio Vice Online ^ | May 14, 2011 | Steve McGough

[E. Pluribus Unum]

By that standard, any income that the government doesn't tax at a rate of 100% is a "tax giveaway."

[combat_boots]

Great posts

[Gene Eric]

The Dems are building up a Big Oil theme in order to deflect rising fuel costs.

[Sicvee]

The Dems had their chance to fix all this when they controlled the house. I don’t think they can change any tax structures now. These hearings are just the usual posturing for propaganda soundbites, to show the little guys that the Dems are on their side.

[Milton Miteybad]

They do not pay, they collect taxes. Both sides need to stop lying about this stuff. There is no reason to allow depletion below a certain level of cost. No one is guaranteed a 100% return on their investment.

I gotta be brutally honest here.

For someone who comments as consistently as you do regarding the relatively straightforward concept of depletion, you appear to know nothing whatsoever about it, either from an accounting or engineering standpoint.

I just thought you'd like to know.

[blueplum]

the Marxists are always looking for the next demon

the more demons created, the more distraction from what the Marxists are actually doing

(like burying funding deep in pass-it-now-to-find-out-what-it-actually-says bills, for instance, or circumventing the Constitution, etc etc)

[blueplum]

“special” in that, if the Marxists determine that oil company business expenses are ‘giveaways’, then a precident has been set and, watch out mom and pop businesses around America!

[org.whodat]

Corporations do not pay taxes, they collect taxes and depletion is nothing more than a made up figure based on a wild eyed guess and the ideal of allowing depletion beyond recapture is as stupid as hell and is nothing more than welfare. And what that has to do with accounting and engineering is only in your head.