Since: Aug 12

United States

#20138 Aug 27, 2013
XXX scores with a backboard shattering slam dunk........and spikes the ball after!!!!
.
Well said!
Old Guy

New Carlisle, OH

#20139 Aug 28, 2013
xxxrayted wrote:
<quoted text>
Oil Company Tax Breaks?
"One major tax break for energy companies is a nearly century-old benefit letting them deduct "intangible drilling costs" (IDC) immediately rather than over time.

Most of the IDC is for the labor costs of drilling a well.

Legislation drafted by Democratic Senator Robert Menendez would limit this break, among others. Ending it completely would raise $14 billion over a decade, according to the White House."

"Many tax experts across the political spectrum said the IDC is a clear exception made for oil."

http://www.reuters.com/article/2012/03/26/us-...

Since: Aug 12

United States

#20140 Aug 28, 2013
Why do people want to tax production? Eliminate all taxes except consumption tax and the economy would grow again and eliminate unemployment.
Concerned voter

Mansfield, OH

#20141 Aug 28, 2013
Before voting for any democrat, take a look at all the states that are either broke, or going broke, because of all thr free stuff. I' m not at all against helping people, but we have to look at how these giveaways are going to be paid for! No more free lunches!
Oopsie Fact Time

Canton, OH

#20142 Aug 28, 2013
UdintBuildThat wrote:
XXX scores with a backboard shattering slam dunk........and spikes the ball after!!!!
.
Well said!
The founder of the institution where trucker boy got his "facts"? Walter Annenberg, who served under Presidents Nixon and Reagan.

Too bad he was slamming that ball in the other team's basket. Now back to REAL facts.
Oopsie Fact Time

Canton, OH

#20143 Aug 28, 2013
Concerned voter wrote:
Before voting for any democrat, take a look at all the states that are either broke, or going broke, because of all thr free stuff. I' m not at all against helping people, but we have to look at how these giveaways are going to be paid for! No more free lunches!
Sorry. Worked hard my entire life. Just like every Democrat I have ever met. Haven't been handed anything free except for GW Bush's $300 apology check. Now about those tax dodgers...
Old Guy

New Carlisle, OH

#20144 Aug 28, 2013
Concerned voter wrote:
Before voting for any democrat... No more free lunches!
"Even as Republicans gripe about deficit spending, their states get 30 cents more federal spending per tax dollar than their Democratic neighbors."

http://www.motherjones.com/politics/2011/11/s...
Oopsie Fact Time

Canton, OH

#20145 Aug 28, 2013
In the United States, credible estimates of annual fossil fuel subsidies range from $14 billion to $52 billion annually, while even efforts to remove small portions of those subsidies have been defeated in Congress.

Wonder who in Congress keeps stopping those freebies being handed out to big oil companies? Up to $52 billion in free ride hand-outs?

Here let me get out of the way of the Conservative rage over this obvious free loading scheme. Cue the crickets...
Oopsie Fact Time

Canton, OH

#20146 Aug 28, 2013
UdintBuildThat wrote:
<quoted text>
Awwwwwwww you didn't get a mom and pop trust fund? That's too darn bad. Suck it up buttercup. Youll be getting all them there feeebies that you voted for your whole life soon enough... just keep hoping for hope and change.....and click yer heals together.... ROFLMAO
.
And you keep bragging about high moral standards??? You're like a hemophiliac that wants to take up fencing.
I see. So when I claimed you were just another free ride, silver spoon who hasn't worked an honest day in his life, I nailed it right on the head. Thanks for clearing that up. Now if you don't mind, I would rather get my advice from someone who isn't just another sweater vest, country club boy and who can appreciate EARNING everything they own. Oh, and be sure to pay those taxes. Pay them real pretty like. You leeches on society have to pay the piper someday.
Michelle

Cleveland, OH

#20147 Aug 28, 2013
Strickland

Since: Aug 12

United States

#20148 Aug 28, 2013
Oopsie Fact Time wrote:
<quoted text>
I see. So when I claimed you were just another free ride, silver spoon who hasn't worked an honest day in his life, I nailed it right on the head. Thanks for clearing that up. Now if you don't mind, I would rather get my advice from someone who isn't just another sweater vest, country club boy and who can appreciate EARNING everything they own. Oh, and be sure to pay those taxes. Pay them real pretty like. You leeches on society have to pay the piper someday.
You've never worked a days worth of work in your life.
Pops

Cincinnati, OH

#20149 Aug 28, 2013
Oopsie Fact Time wrote:
<quoted text>
I see. So when I claimed you were just another free ride, silver spoon who hasn't worked an honest day in his life, I nailed it right on the head. Thanks for clearing that up. Now if you don't mind, I would rather get my advice from someone who isn't just another sweater vest, country club boy and who can appreciate EARNING everything they own. Oh, and be sure to pay those taxes. Pay them real pretty like. You leeches on society have to pay the piper someday.
You are one of the most twisted thinking people in the world or you are good at acting like it. Either way you earn 5 stars in either category.
xxxrayted

Cleveland, OH

#20150 Aug 28, 2013
Oopsie Fact Time wrote:
In the United States, credible estimates of annual fossil fuel subsidies range from $14 billion to $52 billion annually, while even efforts to remove small portions of those subsidies have been defeated in Congress.
Wonder who in Congress keeps stopping those freebies being handed out to big oil companies? Up to $52 billion in free ride hand-outs?
Here let me get out of the way of the Conservative rage over this obvious free loading scheme. Cue the crickets...
Using a very broad definition applied by Oil Change International, the term “subsidies” refers to:“any government action that lowers the cost of fossil fuel energy production, raises the price received by energy producers, or lowers the price paid by consumers.” So based upon the first of these criteria, let’s assume that the president is referring to three types of oil and gas company tax “loopholes”: 1) an oil depletion allowance; 2) expensing drilling costs; and 3), a credit for taxes paid to foreign nations during foreign operations (a foreign tax credit). Yet in one form or another, these same advantages are extended to other industries as well, and often with more generous benefits.

The oil and gas extraction and refining has already been singled out to receive even fewer tax breaks than other industries. Whereas Section 199 of the “American Job Creation Act of 2004” provides a 9% deduction from net income for businesses engaged in “qualified production activities”, oil and gas was penalized and limited to a 6% deduction. Passed with strong bipartisan congressional support, the intent was to provide a competitive advantage to domestic companies engaged in product manufacturing, sales, leasing or licensing, and production-related software activities.

Many manufacturing industries, including farm equipment, appliances and pharmaceuticals take advantage of the full Section 199 deduction. Even highly profitable companies like Microsoft and Apple get those breaks, as do some foreign companies that operate factories in the U.S.

http://www.forbes.com/sites/larrybell/2013/07...
xxxrayted

Cleveland, OH

#20151 Aug 28, 2013
Old Guy wrote:
<quoted text>
"One major tax break for energy companies is a nearly century-old benefit letting them deduct "intangible drilling costs" (IDC) immediately rather than over time.
Most of the IDC is for the labor costs of drilling a well.
Legislation drafted by Democratic Senator Robert Menendez would limit this break, among others. Ending it completely would raise $14 billion over a decade, according to the White House."
"Many tax experts across the political spectrum said the IDC is a clear exception made for oil."
http://www.reuters.com/article/2012/03/26/us-...
Oil depletion allowances, the first category, principally apply to small independent producers, with similar benefits available for all mineral extraction, timber industries, etc., allowing them to pass the depletion on to individual investors. Large integrated corporations haven’t been eligible for these since the mid-1970s. Expensing indirect drilling costs involves writing off expenses in the year incurred rather than capitalizing them and writing them off over several years. Closing this “loophole” would only change the timing of taking the expense, not the total amounts of the so-called “subsidy”.

http://www.forbes.com/sites/larrybell/2013/07...
MARY

Anonymous Proxy

#20152 Aug 28, 2013
HERE'S SMALLEST MAN IN THE WORLD

READ HERE

http://goo.gl/aF5phj
You dishonored your Oath

Logan, OH

#20153 Aug 28, 2013
John Kasich are you going to fill the vacancy of judge in Logan County that Michael L. Brady refused by not filing his bond? He not only has violated the Ohio Constitution and Statutes but Federal 5 USC 2906!

Or are you going to keep sweeping this under the rug because it is a Republican county and praying nobody cares??

Our forefathers would be ashamed I am sure....
Wth

Brooklyn, NY

#20154 Aug 28, 2013
You people must be really bored
xxxrayted

Cleveland, OH

#20155 Aug 28, 2013
Wth wrote:
You people must be really bored
Fire calling the kettle black?????
Old Guy

New Carlisle, OH

#20156 Aug 28, 2013
xxxrayted wrote:
<quoted text>
Oil depletion allowances...
"Intangible drilling costs" (IDC) deductions are different from oil depletion allowances, and available to all oil companies, not just small ones.

"Intangible Drilling Costs: These costs include everything but the actual drilling equipment. Labor, chemicals, mud, grease and other miscellaneous items necessary for drilling are considered intangible. These expenses generally constitute 65-80% of the total cost of drilling a well and are 100% deductible in the year incurred."
http://www.investopedia.com/articles/07/oil-t...
Plain and Simple

Newport, KY

#20157 Aug 28, 2013
xxxrayted wrote:
<quoted text>
Fire calling the kettle black?????
I could be mistaken but I have always heard, "pot calling the kettle black". I think that that makes more sense.
But if you ask Canton, what do either of us know? roflmao

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