Looks like maybe too much money from the oil companies into the politicans hands at election time to cut the tax breaks and other funds that go to them as they have a hard time making money.
When will all the free money we give away end? 
We do not have the money the oil companies do.
http://www.msnbc.msn.com/id/43065013/ns/politics-capitol_hill
How about the goverment letting a large corporation buy the right to our water supply, and then charging us to buy water.
Unfortunatley it is in the works also 
You do realize that the oil companies pass their costs onto the consumer right… 
Just make sure you complain about education funding when the education unions want more of your tax money also.
Or the farm handouts, entitlement handouts, the list is pretty long, but lets be complete with just who lives off the all mighty tax dollar.
Aren’t a lot of these “oil company tax breaks” the same for all companies, like depreciating equipment and rules like that?
These “tax breaks” are business expenses that almost every other industry is allowed to claim on their taxes thus reducing their tax burden, I don’t believe they get any unusual breaks just because of who they are. Supposedly it’s the speculators that have more of an impact on pricing. Almost all gas drilling sites that are on public land have to pay royalties to the state for the amount extracted, Alaska makes a lot of money from these royalties. Just to add more fuel to the fire you should look up the Mining act of 1872. This allows all mineral mining companies, I/E gold and silver to mine public land, extract the minerals and pay ZERO royalties. Our elected officials tried to change it several years ago but a senator from Nevada wouldn’t let it be brought up. I wonder how many mines are in Nevada. There are so many sweet heart deals for select industries it’s funny.
“This is not an energy strategy, this is a public relations strategy, this is a ‘how do I get re-elected’ strategy,” said Sen. John Cornyn, R-Texas. “It does not solve the problem or the pain that Americans are feeling at the pump.”
Tru Dat
Why don’t we just eliminate all tax credits and write offs for all companies and treat all energy sectors the same. Heck, treat all sectors the same.
Because we all know that there isn’t a spending problem. It’s a revenue problem.
My favorite senator, Hairy Reid says it best. “Why should Americans pay at the gas pump once and then give these subsidies to the oil companies a second time?” said Senate Majority Leader Harry Reid, D- Nev. “We believe we need to cut government spending,” he said, adding, “The place to start is with these subsidies.”
Little Hairy forgot to point out the % of the cost of a gallon of gas that goes to taxes.
And he is a little mixed up. What this amounts to is a tax increase.
This is equivalent to saying the government subsidies everyone’s homes, because people are able to write off the interest on their mortgage. The Herbie Reid comes in and says, “We are cutting spending by closing the subsidies home owners are getting”.
Maybe if the dollar was stronger (since we are in debt to our ears), then oil would be cheaper like the old days. I wish I could raise the limit on my credit cards every year and say that I’m not in debt as much as before.
Politician think people are morons and I tend to agree because Illinois citizens keep electing the same guys back in.
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Maybe if the dollar was stronger (since we are in debt to our ears), then oil would be cheaper like the old days. I wish I could raise the limit on my credit cards every year and say that I’m not in debt as much as before.
Politician think people are morons and I tend to agree because Illinois citizens keep electing the same guys back in.
Insanity = ” Doing the same thing over and over again, and expecting different results “
… 
Show me a honest politician and I’ll have you committed on the basis of your delusion.
i heard minnesota is going to repeal the homested property tax break home owners get.
kind of the pot calling the kettle black don’t ya think
Just looked up the over / under odds on this thread getting locked with the book in Vegas. I put my bet in now I will set back and watch the show 
This pretty light weight, despite me mentioning my favorite senator. My money is on no lock.
Let’s pick on Exxon as an example, for the quarter ending March 2011 they have:
$18.9B income before taxes
$ 8.0B taxes (42%)
If we supposedly subsidize the heck out of these oil companies, why does Exxon have a 42% tax rate?
Now look at Microsoft. I picked this as a random example without even knowing the result.
$6.0B income before taxes
$0.8B taxes (13%)
Where’s the outrage there?
Microsoft pays 13% taxes and Exxon pays 42%. Big oil in this case contributes 10x more tax revenue than big software.
Maybe it has less to do with economics and more to do with politics?
D-Train hit it right. People get pissed at the wrong people. If you were making millions you’d be whining about the opposite.
Now why don’t we stop the $20 billion to Pakistan in aid per year? How much to we give to other Arab nations or other nations. If you were broke would you borrow money from China to give $20 to a homeless man or feed your family? That’s the the US is doing now.
Course then there’s the money it take Michelle Obama to go shopping for a day in Europe one our dime.
Can you post the source of the statistics you quoted?
I’m only asking because the big hubbub a couple of weeks ago was tha GE paid ZERO TAXES! So I can’t imagine Big Oil doesn”t get the same breaks.
You are correct that it was reported that GE paid ZERO taxes.
I do not understand why we give away money to anyone when we do not have it.
Period.
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D-Train hit it right. People get pissed at the wrong people. If you were making millions you’d be whining about the opposite.
Now why don’t we stop the $20 billion to Pakistan in aid per year? How much to we give to other Arab nations or other nations. If you were broke would you borrow money from China to give $20 to a homeless man or feed your family? That’s the the US is doing now.
Course then there’s the money it take Michelle Obama to go shopping for a day in Europe one our dime.
I believe we have given Pakistan 18 billion total since 2002.
Not that I totally agree with the reason but we have given them these funds to try and buy them so we could get thier help fighting Al Quiada.
http://www.bbc.co.uk/news/business-13362502%5B/url
I would cut all these funds to huge corporations. I believe I am upset with the correct people, they are the ones giving our future away to wealthy companies that can survive without those funds.
Many of these huge oil companies and others are making billions per year and they do not need the help from the tax payers.
Simply put-we cannot afford any of it.
THanks for keeping this thread civil towards each other.
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“This is not an energy strategy, this is a public relations strategy, this is a ‘how do I get re-elected’ strategy,” said Sen. John Cornyn, R-Texas. “It does not solve the problem or the pain that Americans are feeling at the pump.”
Tru Dat
You don’t really expect the repubs to say… “your right dems…. this is an issue when somebody makes $47B in a quarter and receives subsidies”??? 
Deductions, depreciation and write offs are one thing, subsidies are another. Check it out
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You are correct that it was reported that GE paid ZERO taxes.
Oh but GE is green and betting on that pseudo economy. They’re the good guys! We can’t convince the populous they are bad.
The ploy to go after the top 5% didn’t work, so this is plan B. People will draw a false correlation between gas prices and oil company profits. There always has to be a boogieman or a adversary in politics.
So why are they using euphemisms? Because they don’t want to stall or cut the growth of government and spending. And that goes for both parties involved.
I am so fed up with it. They should cut taxes for everyone and put a dang cap on it. No more increases. Most taxes are “progressive” or % based anyway, so if they want more money, they better implement economic policies that benefit us all.
I would like a straight 7-10% tax for everyone workers , corporations ,companies ,small businesses , wealthy and poor. Then lets have no tax breaks or deductions ,depreciation ,no anything.I think that is just a start towards making people feel equal to each other.I’m happy where I’m at, the wealthy can be happy where they’re at, and were all equal with taxes. No subsidies for no one.
If I want to start a business I save the money or get the loan,buy a house,do the same I don’t bother anybody with a break or handout,it’s my choice,my decision,no defaulting or bankruptcy.I think I would be more careful with my wants and decisions.
Then there is state and federal programs that should be updated,that’s a whole different ballgame.
Stan
Flat tax rates are unfair to the poor and middle class. There aren’t 5000 pages of tax law to benifit you and I. Eliminate the needless write-offs for the wealthy and bring all tax rates into a realistic range.
Screws this, you make money here, you pay taxes here,,,PERIOD. This bullwinkle state of mind of GHEESE LOOK AT ALL THE MONEY THEY SPEND, give me and everybody else a break. The ba-tards make money here and they complain??? are you kidding me???,,,they need to pay taxes here and thier makeing that money here, DAMN!!! I’ve never heard anything so stupid in my whole life. If they don’t like paying taxes here from the money they earned then they can get the Hel- out and don’t come back. My daughter pays more taxes then they do and shes a waitress, just ask me.
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Screws this, you make money here, you pay taxes here,,,PERIOD. This bullwinkle state of mind of GHEESE LOOK AT ALL THE MONEY THEY SPEND, give me and everybody else a break. The ba-tards make money here and they complain??? are you kidding me???,,,they need to pay taxes here and thier makeing that money here, DAMN!!! I’ve never heard anything so stupid in my whole life. If they don’t like paying taxes here from the money they earned then they can get the Hel- out and don’t come back. My daughter pays more taxes then they do and shes a waitress, just ask me.
All I can say is….WTF?
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Flat tax rates are unfair to the poor and middle class. There aren’t 5000 pages of tax law to benifit you and I. Eliminate the needless write-offs for the wealthy and bring all tax rates into a realistic range.
This is a good question, what is a fair tax rate ? The top income tax rate is 35 % I believe. Add in the state income tax of about 10 %, add in gas tax, food tax, property tax, car tax, and so on, and I think you are well into the range that some Americans pay over 50 % in tax each year to the government and even higher in some states like MN where evidently the answer to over spending is to tax even more.
Is is really the role of government to reditribute wealth ? Let’s be honest, we have a progressive tax system, some pay nothing and others pay quite a bit.
I work pretty hard for my money and have my whole life. Watching it be wasted by our governemnt on pretty much every level is pretty hard to watch on a daily basis.
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