Yeah, this should help gas prices!

Having right wing Bush and Cheney (both oil men) in office (kissing sheiks and moving companies to Dhubai) has certainly helped oil prices. :D

Hey, maybe we could invade a country with oil to drive the price down.
 
Redworm
US companies have a vast array of ways to skirt their taxes
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From about 1980 to 2005, oil companies directly paid or remitted more than $2.2 trillion in taxes, after adjusting for inflation, to federal and state governments—including excise taxes, royalty payments and state and federal corporate income taxes. That amounts to more than three times what they earned in profits during the same period.

To say that oil compamies pay little or no tax is totally mindless.
 
The price of standard crude oil on NYMEX was under $25/barrel in September 2003. It's now just over $100/barrel. Doesn't it figure that their profits would go up along with the price of crude?
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Now it depends what your definition of "profits" is. Are you referring to the total sales they received during the year or the net profits after all expenses?
 
And, somehow, you don't think that the oil companies will pass those higher taxes on ?
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So you would rather do nothing, give the oil companies all the free money they want, and live at their mercy for fear they will put the screws to you if anyone tries to step on their toes?
 
So you would rather do nothing, give the oil companies all the free money they want, and live at their mercy for fear they will put the screws to you if anyone tries to step on their toes?
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Isn't capitalism great?
 
I like how this works on the left. If a company gets to keep more of its' earnings, that's greed. If the politicians take more of your money, that's fairness.
 
Karl Marx couldn't have said it any better.
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Because anything but pure capitalism must be that evil, nasty communism, right? :rolleyes: You can't have any government interaction whatsoever because governments are bad and corporations are good! :barf:
 
From about 1980 to 2005, oil companies directly paid or remitted more than $2.2 trillion in taxes, after adjusting for inflation, to federal and state governments—including excise taxes, royalty payments and state and federal corporate income taxes. That amounts to more than three times what they earned in profits during the same period.
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They paid three times their profits in taxes? I seriously doubt that.

To say that oil compamies pay little or no tax is totally mindless.
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Which is why I didn't ****ing say that. :rolleyes:
 
I like how this works on the left. If a company gets to keep more of its' earnings, that's greed. If the politicians take more of your money, that's fairness.
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They are not just keeping their earnings. They are keeping their earnings and yours. In the form of massive tax incentives and pay-outs from tax payer money.

I am all for paying someone for the work they do...but if someone comes to mow my yard I should not have to buy him the mower first. Tax payers are paying to upkeep and build refineries...and even that money is being redirected into CEO pockets.
 
Isn't capitalism great?
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wait, that's capitalism to you? :barf: no, it isn't great



So who here actually believes that when oil companies get tax breaks they pass the savings on down to us?
 
Dang tax-dodging evil oil companies.....

Exxon's tax payment in 2007 ----- $30 billion.

Exxon's tax payment in 2006 ----- $28 billion.

Exxon pays taxes at a rate of 41% on its taxable income!
 
So PBP, You are gonna try and tell me that the gubmint GIVES the oil company CHECKS? The investors pay for upkeep... I PAY FOR UPKEEP! I had not heard the gubmint was giving them checks... I am OUTRAGED!
If the gubmint could force the prices to drop after REPEALING taxes on corporations to reflect the tax elimination they could collect a national sales tax COMPLETELY DEVOID of loopholes and creative money shuffling... We would all feel it in our wallet immediately! And ol' unk sam would do well too. But I am also for better spending manners on their part too!
Brent
 
So who here actually believes that when oil companies get tax breaks they pass the savings on down to us?
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Seriously. I was asked if I believed they won't hike up prices to make up for this (and I don't) and I'd like to know if anyone actually thinks they'll charge us less if they get more tax breaks
 
Redworm
Again, three times their profits?
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http://www.taxfoundation.org/news/show/1168.html

oil companies directly paid or remitted more than $2.2 trillion in taxes, after adjusting for inflation, to federal and state governments—including excise taxes, royalty payments and state and federal corporate income taxes. That amounts to more than three times what they earned in profits during the same period, according to the latest numbers from the Bureau of Economic Analysis and U.S. Department of Energy.
 
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