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81 - 99 of 99 Comments Last updated Feb 28, 2013
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Enzyte Bob

Blacklick, OH

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#109
Feb 28, 2013
 
I think this might be a good place for Seriouslady to add some wisdom since she's an MBA/numbers and accounting type.
Enzyte Bob

Blacklick, OH

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#110
Feb 28, 2013
 
-tip- wrote:
<quoted text>
I suppose if you were the O&G investor/landowner being screwed you might have a different opinion.
But you're not.
So, when the oil & gas industry hits its next inevitable low...which Ohio industry and its Ohio investors will you wealth redistributionists then target to fund Ohio's pet union/govt projects?
And how will you justify that?
If you believe in free markets then you have to believe they the market price of energy already has those costs factored into the market price of energy.

So how is the O&G owner being screwed when the bulk of oil and gas production is subject to a severance tax and those taxes are already factored into the price of energy?

If severance taxes are so pervasive, they HAVE to be embedded in the market price of energy, that is market theory.

So if those expenses are embedded in the cost of energy, you think it's a good idea to pay those costs twice?

Turn the mute button on Faux News and put on your thinking cap for a little. Pretend you "own" the State of Ohio. You really think your anti-government dogma has any merit?

Paying the same tax twice is the very definition of cutting your nose off to spite your face!

I understand and respect your principle of small government, but this is one of those situations where you shoot yourself in the foot by sticking with principle. You make the bottom line decision, and the bottom line decision is correct for all of the stated reasons!

Geesh!

“animis opibusque parati”

Since: Oct 12

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#111
Feb 28, 2013
 
Enzyte Bob wrote:
<quoted text>
Do you believe in markets? Energy is traded in markets and the market price accounts for all relevant factors. If 25+ states have a severance tax, that means it's already factored into the price of energy. In other words, the gross price they get when they sell a barrel of oil already take into account production cost, supply and demand AND EXPENSES SUCH AS THE SEVERANCE TAX.
Using your warped way of looking at things, you are effectively wanting to pay severance tax twice. Once at the pump, and then a second time to the State of Ohio because of some boneheaded anti-government point you want to make.
I thought you knew something about money and economics.
Since when is paying TWICE for the same thing a good idea, and giving the first payment to Exxon and Chesapeake Energy as a donation?
Are you naive enough to believe that every state levies the same types of taxes, tax rates, abatements and other incentives? The tax codes for the O&G industry across states is as complex and varied as it gets.

But what is most laughable about this entire overblown Kasich scheme is that he is betting on grossly-overestimated, unproven reserves. As I indicated earlier, Ohio producers have scaled back their initial estimates on shale production and future viability; in fact, according to the Ohio O&G Association, a recent survey of energy execs shows Ohio has fallen from number #2 "in desirability" to #14 for future investment.

So, when a governor builds a budget based on unproven estimates...and those estimates fall far short of reality...what industry will be targeted next to fund that governor's pie in the sky?
Enzyte Bob

Blacklick, OH

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#113
Feb 28, 2013
 
-tip- wrote:
<quoted text>
Are you naive enough to believe that every state levies the same types of taxes, tax rates, abatements and other incentives? The tax codes for the O&G industry across states is as complex and varied as it gets.
Texas appears to be just under the median at 4.6% I'm happy with that.

http://goo.gl/ocXaa
Enzyte Bob

Blacklick, OH

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#115
Feb 28, 2013
 
You cannot kill a Spook wrote:
<quoted text>
Part of the reason it has fallen to #14 is because of the cost to produce and bring to market which Bob Taxt Jr aka John I flunked math Kasich tax increase is facteeed in. Why risk money in a place that will take longer to recoup the investment.
Again, parity is all I want. Parity.

If there are LEGITIMATE factors such as the ones you mentioned that put you at a disadvantage as to other states, I am willing to listen and adjust those rates. Otherwise, when practically all states have or will have a severance tax,(you better believe Andy Cuomo is going to have a tax sooner or later) that means Mr. Joe Taxpayer is getting screwed.

Pairity!

“animis opibusque parati”

Since: Oct 12

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#117
Feb 28, 2013
 
Enzyte Bob wrote:
<quoted text>
Again, parity is all I want. Parity.
If there are LEGITIMATE factors such as the ones you mentioned that put you at a disadvantage as to other states, I am willing to listen and adjust those rates. Otherwise, when practically all states have or will have a severance tax,(you better believe Andy Cuomo is going to have a tax sooner or later) that means Mr. Joe Taxpayer is getting screwed.
Pairity!
In addition to the current Ohio severance tax, Ohio O&G producers also pay sales tax, commercial activity taxes [CAT], fuel use taxes, personal income taxes and ad valorem taxes.

Producers in other states are not subject to all of these taxes and are not taxed at the same rates.

Parity would require that all states impose identical tax structures on all citizens/corporations.

Since: Aug 12

United States

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#118
Feb 28, 2013
 
Enzyte Bob wrote:
<quoted text>
You get no argument from me that there are too many entities and boards and districts and crap like that.
The other reason I have the attitude I have is that I've served on a church board for over 10 years. I used to hear all the same crap you hear about government about how all the money is wasted, how they don't know how to manage money, blah, blah, blah. But after serving 10 years and being hands on, you realize there isn't really too much you can cut unless you're Rod Parsly and have a Gulfstream.
But as we've discussed, sometimes the cost is worth it. If I live in UA, I'm okay with the high taxes because my 60's ranch home doubles in value every so often. That very same style ranch home in Berwick kind of stays the same in value so maybe I'm less okay there.
And this is an educated, slightly upscale metro area, people like sh^t like parks and zoos and stuff like that.
Columbus' budget is 80% salaries. The national budget is, what, 2/3 entitlements?
And I'm certain if Columbus were annexing out your way, you would want to keep your township intact.
So that begs the question, what's to cut? If it were all about being cheap, then we go to county governments like Nashville, Indy, Jacksonville, Louisville and Charlotte. But most of those places suck.
So that begs the question, what's to cut?
.
Bob.... from personal experience, I guarantee that Indy and Charlotte both are a hell of a lot nicer than Columbus....

Since: Aug 12

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#119
Feb 28, 2013
 
Enzyte Bob wrote:
<quoted text>
Again, parity is all I want. Parity.
If there are LEGITIMATE factors such as the ones you mentioned that put you at a disadvantage as to other states, I am willing to listen and adjust those rates. Otherwise, when practically all states have or will have a severance tax,(you better believe Andy Cuomo is going to have a tax sooner or later) that means Mr. Joe Taxpayer is getting screwed.
Pairity!
Tennessee Florida and Texas all have no state income tax. Maybe Ohios producer class wants parity too!
Enzyte Bob

Blacklick, OH

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#120
Feb 28, 2013
 
UdintBuildThat wrote:
<quoted text>
.
Bob.... from personal experience, I guarantee that Indy and Charlotte both are a hell of a lot nicer than Columbus....
Indy? No way. Especially not Indy.

Charlotte? Toss up. Newer sprawl always looks great. Take a ride around the Eastland Mall area and tell me what you see.

Columbus is better because we have the Dublins, Bexleys, UA's, Granvilles and New Albanys and they don't. City/County government spreads mediocrity over a wider swath of terrain. In Columbus, the mediocrity is largely confined to Columbus.
Enzyte Bob

Blacklick, OH

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#121
Feb 28, 2013
 
UdintBuildThat wrote:
<quoted text>
Tennessee Florida and Texas all have no state income tax. Maybe Ohios producer class wants parity too!
I'm all for doing what Texas does.

I'm okay with the same sales tax, income tax and severance tax.

Florida has an 8% severance tax. You also won't like Florida's intangibles tax (on stocks and bonds).

There is no such thing as a free lunch!

========

http://www.kulzick.com/fintti.htm

What is Intangible Personal Property Tax?

Florida's intangible personal property tax is an annual tax based on the current market value, as of January 1, of intangible personal property owned, managed, or controlled by Florida residents or persons doing business in Florida.

What is Taxable?

The tax applies to intangible assets such as:

stocks
mutual funds
bonds
loans
money market funds
notes
accounts receivable
interest in limited partnerships registered with the Securities and Exchange Commission.
Enzyte Bob

Blacklick, OH

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#122
Feb 28, 2013
 
P.S.

The state gets 1.5% of your wealth. That's after the Jewish money managers get their 1.5%

Theres no such thing as a free lunch!

==========

How Tax is Calculated

Individual Filers

The first $20,000 of total taxable assets are exempt. Total taxable assets valued between $20,000 and $100,000 are taxed at $1 per thousand dollars of value. Total taxable assets valued at more than $100,000 are taxed at $1.50 per thousand dollars of value.

Joint Filers

The first $40,000 of total taxable assets are exempt. Total taxable assets valued between $40,000 and $200,000 are taxed at $1 per thousand dollars of value. Total taxable assets valued at more than $200,000 are taxed at $1.50 per thousand dollars of value.

Discounts

If you file between January and the end of May, you qualify for a discount. The earlier you file, the greater the discount.

Since: Aug 12

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#123
Feb 28, 2013
 
Enzyte Bob wrote:
<quoted text>
I'm all for doing what Texas does.
I'm okay with the same sales tax, income tax and severance tax.
Florida has an 8% severance tax. You also won't like Florida's intangibles tax (on stocks and bonds).
There is no such thing as a free lunch!
========
.
LeBron James saves over $12, 000 per game he plays in Florida now as opposed to Ohio.

Since: Aug 12

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#124
Feb 28, 2013
 
Enzyte Bob wrote:
<quoted text>
Indy? No way. Especially not Indy.
Charlotte? Toss up. Newer sprawl always looks great. Take a ride around the Eastland Mall area and tell me what you see.
Columbus is better because we have the Dublins, Bexleys, UA's, Granvilles and New Albanys and they don't. City/County government spreads mediocrity over a wider swath of terrain. In Columbus, the mediocrity is largely confined to Columbus.
Indy has Keystone mall, Butler Fieldhouse, zionsville, carmel, castleton AND A DAMN NICE DOWNTOWN. as opposed to downtown cbus....
Enzyte Bob

Blacklick, OH

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#125
Feb 28, 2013
 
UdintBuildThat wrote:
<quoted text>
LeBron James saves over $12, 000 per game he plays in Florida now as opposed to Ohio.
He better not have it invested in stocks.

Of course, the loophole probably is a family limited partnership or LLC owning the stocks.

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

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#127
Feb 28, 2013
 
UdintBuildThat wrote:
<quoted text>
Indy has Keystone mall, Butler Fieldhouse, zionsville, carmel, castleton AND A DAMN NICE DOWNTOWN. as opposed to downtown cbus....
Yep. I have to say that Indy's skyline and downtown are far more impressive than Columbus. But leave that area and crime is waaay worse than Columbus.

“Larchmont's Leading Citizen”

Since: Dec 12

Hilliard, OH

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#128
Feb 28, 2013
 
Carmel is very nice, I have relatives there. It's a lot like Dublin.

Since: Aug 12

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#129
Feb 28, 2013
 
The south side of any city is a shitthole

Since: Aug 12

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#130
Feb 28, 2013
 
German Village USED to be a place I would look forward to going to in Cbus.
Enzyte Bob

Blacklick, OH

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#131
Feb 28, 2013
 
Hugh Victor Thompson III wrote:
<quoted text>Yep. I have to say that Indy's skyline and downtown are far more impressive than Columbus. But leave that area and crime is waaay worse than Columbus.
Only thing Indy has over Columbus is the Downtown area. The rest of the metro, Columbus wins hands down.

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