When you make $10 Billion in profits in 12 weeks, why do you need subsidies? This is a rip off.
We could use a moratorium on the fed and state gas taxes .. anything.. unfortunately, until siphoning reaches epidemic proportions .. We NeeD R E L I E F ..
I stick with Ryan. Our fiscal programs and processes and regulation are a disaster no matter what file folder you open, whether its the red ink in Defense, Education, Health Care or Entitlements. China owns it all. What would be wrong with large cutting across the board and rebuilding essentials as needed, the rebuilding starting with Defense and Entitlements only for the poorest of the poor?
McDonald’s has a much higher profit margin, iirc.
What about them?
Apple has ungodly profit margins compared to Big Oil.
What about them?
As far as subsidies, it’s a BS argument.
http://www.powerlineblog.com/archives/2011/04/028921.php
I make about $1000 per year for my oil lease. I am allowed to deduct 15%, or $150 that I don’t have to pay taxes on. I am taxed on the rest. The reason that I get this DEPLETION DEDUCTION, it is not a subsidy, is because my little one acre of land is now worth less because oil has been pumped out of it. The land owners are for the most part little guys (and gals). How does increasing taxes lower gas prices, anyway. (Taking away a tax deduction = increasing taxes.)
Someone looked up recently and Exxon’s Return on Investment is about 35% of Apple’s.
I say we seize all the money.
We can keep it a my house.
“When you make $10 Billion in profits in 12 weeks, why do you need subsidies? This is a rip off.”
The subsidies were meant to encourage the oil companies to take risks in drilling.
But...since we no longer permit drilling, I agree, they’re not needed. Maybe President DeMint can restart those subsidies, once he gets us drilling.