Obama seeks halt to tax subsidies for...

Obama seeks halt to tax subsidies for oil industry

There are 517 comments on the The Kansas City Star story from Mar 17, 2012, titled Obama seeks halt to tax subsidies for oil industry. In it, The Kansas City Star reports that:

President Barack Obama is calling anew on Congress to end tax subsidies for the oil and gas industry, saying the nation needs to develop alternative sources of energy in the face of rising gasoline prices.Obama said Saturday in his weekly radio and Internet address that he expected Congress to consider in the next few weeks halting $4 billion in ... (more)

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“your life is great”

Since: Aug 09

you poop in clean water

#523 Apr 3, 2012
Washington (CNN)-- Senate Republicans on Thursday blocked a Democratic measure championed by President Barack Obama to end tax breaks for the major oil companies.
The procedural vote of 51-47, which failed to reach the needed threshold of 60 in favor, killed the measure, which was given little chance of eventually winning approval in the Republican-controlled House. Four Democrats opposed the bill while one Republican supported it.

.
.

doesn't matter, the oil companies will continue to see record profits while we pay over $4 at the pump.
if you think your elected officials give a crap about you, I've get a bridge to sell you in Brooklyn.
Captain_Morgan02

Wadesboro, NC

#524 Apr 3, 2012
WeTheSheeple wrote:
<quoted text>If oil companies are making BILLIONS in profits every quarter, why do they need tax breaks?
Our tax system is based on percentages. Just because they sell a product that is so heavily used doesn't mean they should be forced to pay any higher of a percentage than anyone else. As I said before, clearing a profit of 8 cents on the dollar shows they only get rich through volume sales. Why can't you understand that? What you are proposing is that a company should only be allowed to make a certain amount of profit and the government should be given the rest to redistribute as it sees fit. That is completely un-American.
Captain_Morgan02

Wadesboro, NC

#525 Apr 3, 2012
Go Blue wrote:
<quoted text>Both sides are just awful...the dems don't hold the patent on being scum.....
But they have perfected it.
HATE

Owatonna, MN

#526 Apr 3, 2012
No matter if price of barrel of oil goes way up or way down oil companies each quarter set a new profit record......People look around your town....Why is all gas prices within a few pennies of each other,,,In any other industry they will have someone who is way cheaper or who has a massive sale....

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#527 Apr 3, 2012
thats all folks wrote:
<quoted text>
Some believe that we are so pathetic that we wouldn't even get off our butts and Vote to save America from four more years of being nothing more than "lab rats" in pelosi's progressive "social experiments". How sad for our children.
How sad for us all.
Pssst, Pelosi's not in charge anymore. But with any luck the Dems will take back the House as well as keeping the Presidency & the Senate.

All hail Speaker Pelosi!!
Mothra

United States

#528 Apr 3, 2012
WeTheSheeple wrote:
<quoted text>
The evidence of collusion is obvious to anyone with even half a brain (you could borrow some brain power from a friend maybe). All you have to do is drive by the gas stations and observe the gas prices.
When asked for proof, you cited a single friend that works for a gas station.

Got anything more?

No?

until then, stfu

“your life is great”

Since: Aug 09

you poop in clean water

#529 Apr 3, 2012
Captain_Morgan02 wrote:
<quoted text>
Our tax system is based on percentages. Just because they sell a product that is so heavily used doesn't mean they should be forced to pay any higher of a percentage than anyone else. As I said before, clearing a profit of 8 cents on the dollar shows they only get rich through volume sales. Why can't you understand that? What you are proposing is that a company should only be allowed to make a certain amount of profit and the government should be given the rest to redistribute as it sees fit. That is completely un-American.
not really.
why does the oil industry get tax breaks is the question.
.
in theory, it's supposed to be so that consumer prices hold steady but since that's not the case, one is left to wonder why this industry, or agriculture for that matter, continues to get these credits.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#530 Apr 3, 2012
Captain_Morgan02 wrote:
<quoted text>
Our tax system is based on percentages. Just because they sell a product that is so heavily used doesn't mean they should be forced to pay any higher of a percentage than anyone else. As I said before, clearing a profit of 8 cents on the dollar shows they only get rich through volume sales. Why can't you understand that? What you are proposing is that a company should only be allowed to make a certain amount of profit and the government should be given the rest to redistribute as it sees fit. That is completely un-American.
Actually they SHOULD pay a higher tax rate than other companies, because their product is so damaging to the envorinment, but that's another issue entirely.

The corporate tax rate is supposed to be 35% for every business, yet the biggest oil companies paid an effective tax rate of only 15% last year, even though they made billions in profits. I don't care if that total profit was off 1 sales transaction or 1 trillion sales transactions. Why do they deserve special treatment again?
Go Blue

West Palm Beach, FL

#531 Apr 3, 2012
anneutral wrote:
<quoted text>
not really.
why does the oil industry get tax breaks is the question.
.
in theory, it's supposed to be so that consumer prices hold steady but since that's not the case, one is left to wonder why this industry, or agriculture for that matter, continues to get these credits.
Amazing to me, that we can't end $4 billion in big oil subsidys, but we cannot afford $3 billion, to allow NASA to continue the Shuttle program.....

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#532 Apr 3, 2012
Mothra wrote:
<quoted text>
When asked for proof, you cited a single friend that works for a gas station.
Got anything more?
No?
until then, stfu
Do you have eyes? Then go look for yourself. If every gas station within a few miles of each other are priced within a penny or two of each other, then it's collusion. Now go inside the stores and see what price they're charging for a gallon of milk- I'll bet the prices on milk are not all within a penny or two of each other.

If it's all about supply, demand, competition, and market share, then why aren't the value meals at McDs, Burger King, & Wendy's all priced within a penny or two of each other. Why aren't all 12" pizzas at Dominos, Pizza Hut, Little Ceasars all priced within a penny of two of each other. Why isn't a liter of Coke at Walmart, PigglyWiggly, SafeWay, etc all priced within a penny or two of each other? Why isn't the same identical Dodge Ram pickup from 3 different Dodge dealers all priced within a penny or two of each other?

Aren't those companies worried about giving up market share to their competitors? Don't they have supply & demand issues too? Why aren't all their prices essentially identical for essentially identical products??

Why is it EVERY OTHER PRODUCT ON THE PLANET varies in price depending on the retailer, but gas prices are essentially identical at every gas station within a certain driving distance???

The obvious answer is price collusion.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#533 Apr 3, 2012
Go Blue wrote:
<quoted text> Amazing to me, that we can't end $4 billion in big oil subsidys, but we cannot afford $3 billion, to allow NASA to continue the Shuttle program.....
Just be happy we at least stopped one boondoggle!
Captain_Morgan02

Wadesboro, NC

#534 Apr 3, 2012
anneutral wrote:
<quoted text>not really.
why does the oil industry get tax breaks is the question.
.
in theory, it's supposed to be so that consumer prices hold steady but since that's not the case, one is left to wonder why this industry, or agriculture for that matter, continues to get these credits.
Both are to ensure a supply that is as steady as possible. Neither can take all volatility out of the market but by keeping farmers planting and oil companies drilling we tilt the odds in our favor. The credits are typically geared towards attempting to increase supply.
Mothra

United States

#535 Apr 3, 2012
WeTheSheeple wrote:
<quoted text>
Do you have eyes? Then go look for yourself. If every gas station within a few miles of each other are priced within a penny or two of each other, then it's collusion....
Just took a look at Phoenix prices.

http://www.phoenixgasprices.com/map_gas_price...

Prices range from $3.70 to $3.99 all within "a couple miles from each other".

My 'eyes' just proved you wrong.

For more evidence, zoom out to see at least 15 gas stations. Wow.... there's quite a range there.

Your "collusion" argument has been shot down by your own standards.

LOL

Run along... you've (still) got nothing.

“your life is great”

Since: Aug 09

you poop in clean water

#536 Apr 3, 2012
Captain_Morgan02 wrote:
<quoted text>
Both are to ensure a supply that is as steady as possible. Neither can take all volatility out of the market but by keeping farmers planting and oil companies drilling we tilt the odds in our favor. The credits are typically geared towards attempting to increase supply.
and again.
why does an industry that posts billions every year in profits NEED tax breaks?

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#537 Apr 3, 2012
Captain_Morgan02 wrote:
<quoted text>
Both are to ensure a supply that is as steady as possible. Neither can take all volatility out of the market but by keeping farmers planting and oil companies drilling we tilt the odds in our favor. The credits are typically geared towards attempting to increase supply.
With oil over $100 and gas over $4, are you saying the oil companies don't have an incentive to increase supplies right now?

Face it, giving oil companies a tax break is simply a political reward for past campaign donations.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#538 Apr 3, 2012
Mothra wrote:
<quoted text>
Just took a look at Phoenix prices.
http://www.phoenixgasprices.com/map_gas_price...
Prices range from $3.70 to $3.99 all within "a couple miles from each other".
My 'eyes' just proved you wrong.
For more evidence, zoom out to see at least 15 gas stations. Wow.... there's quite a range there.
Your "collusion" argument has been shot down by your own standards.
LOL
Run along... you've (still) got nothing.
I looked. Take out the one station at $3.70 and the one station at $3.99 and the remaing 30+ stations are all within 1-2% of each other, with the overwhelming majority being within 1-2 cents of each other.

Also, you need to remember those prices are customer reported over the past 24 hrs. Needless to say a LOT can change in 24 hrs, like all 4 gas stations in my town raising their prices by 20 cents all within the same 24 hr period. So if I had looked on gasbuddy that day I would likely have seen one station at $3.94 while others were at $4.14. If would appear a major difference in pricing, when in reality a drive by in person shows all 4 at the exact same price, just like they are right now, even though gasbuddy shows 1 at $4.14 and 2 at $4.12. It also shows a station south of town which doesn't even exist supposedly selling gas for $4.10!

Like I said, go personally drive by the stations nearest you and see what the prices ACTUALLY are right now. Then go inside and see how much they charge for milk and compare the difference.

“Be careful what you wish for.”

Since: Aug 07

Location hidden

#539 Apr 3, 2012
WeTheSheeple wrote:
<quoted text>
If you didn't complain about gas prices then I was wrong about that. Get over it already.
Quite an apology! S'okay. I have nothing to "get over". You're the one who lies.

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