Replies to This Discussion

Permalink Reply by catman on September 12, 2008 at 9:02

Then this is not a tax reduction. If you pay no income tax and you get a check you are getting a form of welfare. This is called income redistribution or socialism. Please call it what it is.

Permalink Reply by Steve Bacle N3 on September 12, 2008 at 9:51

Humm... Wonder if Obama is like Pelosi and thinks that Natural Gas is not a fossil fuel? Wonder if he even knows that we have to drill to get NG? He hates drilling and is in bed along with all the Democrat congress and the environmental wakkos. If Obama gets in there we will see a flood of environmental wakko legislation that will make it harder not easier to “Tap” the shale.

Oh and by the way, he says he will only tax the top 5%. That’s BS! He does not write the tax bills, the liberal Democrat congress writes the bills and they love taxes! Give them a half a chance and they will increase taxes on everyone making over $50,000. That is their cutoff for who is wealthy and who is not. Any of you have a 401K or a retirement account with their job? Those accounts will fall in that "5%". The DEMs want to bring back the "Death Tax". If your land has shale and you die, the government will get a big part of that inheritance. Your family is left in the cold. The capital gains tax will go up unless McCain is elected. That means if you sell your land you pay the highest tax rate.

Don't be a fool vote Republican in Nov. Straight ticket. Keep your taxes low.

Permalink Reply by P.G. on September 13, 2008 at 22:39

Hmmmm?
That death tax you mention raises a question! If you die and your minerals are leased and HBP, would the government get, forever, (45% death tax), in addition to the income tax, for the life of the lease, as the money came in or would they estimate the future value of the lease and make that amount due in one lump payment?
Now if there were no mineral lease, and the property transfered upon your death, would future production then avoid the extra death tax?

I mean wouldn't a paying lease be like having a contract that could be worth millions? If one inherited such a contract, wouldn't they consider the total worth?
Lets say one had a farm. And the farmer had signed a contract to produce a commodity for several years then died and left the farm to his son. Would the son have to pay inheritance tax on just the value of the farm or the farm + contract?
Now if there were no contract, I would assume the son would only have to pay taxes solely on the value of the farm and not production potential.

Permalink Reply by Steve Bacle N3 on September 14, 2008 at 15:30

I am not a tax lawyer, but I have read some on this and what I have read is the government will estimate the future value of the lease and royalties and apply estate “DEATH” taxes on that. If you have any shale property that will be providing a royalty or possible leases of over a million dollars you need to see a tax professional to get his advice.

If you do not want your taxes to go up, vote Republican. If you like giving your money to Washinton Liberals vote Democrat. The Republicans have a plan to end death taxes, but the Dems have stonewalled them in the congress. The end of the death tax needs to be voted on again in 2010 and a Dem congress will let the action die without even taking a vote. They will lie to us and tell us how they are opposed to death taxes. Death taxes will be with us again after 2010.

For a person dying during 2006, 2007, or 2008, the "applicable exclusion amount" is $2,000,000, so if the sum of the taxable estate plus the "adjusted taxable gifts" made during lifetime equals $2,000,000 or less, there is no death tax to pay. According to the Economic Growth and Tax Relief Reconciliation Act of 2001, the applicable exclusion will increase to $3,500,000 in 2009, the death tax is repealed in 2010, but then the act "sunsets" in 2011 and the death tax reappears with an applicable exclusion amount of only $1,000,000 (unless Congress acts before then).

Permalink Reply by VSC DeSoto South on September 13, 2008 at 19:19

The numbers don't lie.
Just the facts: http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposal...

Permalink Reply by hot on September 14, 2008 at 7:34

I'm in the LOWER 5% of the 95%.
If you want a tax cut you have to make it happen on your end. The politicans ARE NOT going to help you unless you are making over 150K a year.

Wish in one hand and ? in the other and see which one gets full first.

Permalink Reply by mooncookie on September 14, 2008 at 16:05

The new generation of fuel responsible vehicles made here as well... he is directly referring to CNG and Hybrid vehicles (Toyota is converting factories that once made Tundras into Hybrid Camry and Prius factories and keeping their employees on the payroll during transition).

It is kinda ironic that the current administration is standing there with their pants around their ankles while the Japanese are being more compassionate and responsible for the effects of our delicate situation. What insight and foresight, or rapid adaptation the Japanese embody! Our companies could take a page or two out of their handbook.

Permalink Reply by Checkmateking on September 14, 2008 at 16:17

The Japanese make advancements for one reason, and if you think it has anything to do with "compassion for our economic situation" I dont know what to tell you. The Japanese do make advancements for one simple reason. To make MONEY, and better themselves. And the last time I checked the President of the United States and his administration are busy fighting terrorists who would like to slit all of our throats, not deciding what kind of cars are being built and being "compassionate". That is the job of free enterprise and will happen when it is profitable. The only thing I want from any administration is to leave me the hell alone. Japan has almost no O/G resources and very expensive gasoline and the natural gas car is a viable option in that niche. I believe it may be here as well but it takes years if not decades to make such a huge leap.

Permalink Reply by Checkmateking on September 14, 2008 at 16:26

Mooncookie, if you think Karl Rove has anything to do with the Federal Reserve then you shouldnt be allowed to vote, A wise man once said anyone who paints the sky green and the grass blue has contributed to the de-evolution of art and culture. I dont understand your art or your politics. The Butcher gets up at 4 in the morning to sell meat and make money, not to make sure you have meat on the table. Simple economics poeple!

Permalink Reply by Checkmateking on September 14, 2008 at 16:47

Do you really think he is going to challenge the constitution?

Wake up. He is more original than the Bush Administration (I mean we already have the Patriot Act and some other fascist legislation limiting other important amendments)

I think he stated this cliche at one of the speeches I saw..."when guns are completely outlawed, then only the outlaws will have guns"...."I think it is important that the people be able to protect themselves and their property as well as hunt, but we don't need Ak-47's in the hands of streetgangs".

"If anything, illegal gun trading and the "obviously not for hunting" guns will be the only sector that is threatened, not the 2nd Amendment.

If you're a lord of war or hardcore thug-lifer, I can understand your fear otherwise....don't be so silly...no one will ever be able to take away our guns!!!! They wouldn't make it past city council with that additude!" MOONCOOKIE
Have you ever heard of the Washington D.C. city council, they totally banned guns for over 20 plus years and thank god it was struck down, by the conservative judges appointed by republicans, all you can do is spout off liberal talking points that have no basis in fact. If I want guns that are for killing poeple and not for hunting that is my right, In fact the Second Amendment was written specifially for poeple to have guns not for hunting but in fact to shoot and kill their fellow man if need be. If you think listening to terrorists phone calls is a violation of the constitution thats ridiculous, I can use your own argument you just stated about guns, if your a terrorist I can understand your fear otherwise right? Its always the same ole double standard liberal BS!

Permalink Reply by mooncookie on September 14, 2008 at 17:16

how else would you protect yourself and your property under the 2nd amendment...also in my post above. SELECTIVE READING AND LISTENING ONLY BREEDS MISUNDERSTANDING.

St. Thomas explains the morality of killing to defend yourself in the Summa Theologica, no problem from me there.

The city council thing was an indirect ref to your comment, thanks for bringing that out, at least you are not asleep!

Have you actually read the Patriot Act? It is a blank check....If you think my comment is liberal BS, think about forced subcutaneous or intravenous injections forced upon you....RFID chips in your children at birth (that have all your info including $ attached to them...a chip that could be turned off as in you no longer exist in the system) ITS MORE THAN TAPPING A FEW THOUSAND PHONES THAT MAY OR MAY NOT BE TERRORISTS!

D.C. is its own world indeed, a funny place with one of the highest crime rates (proving the outlaw quote and possibly why they attempted to ban them in the first place...not that it was justified)

I had to make a choice once between my British husband and my country...guess who is back in London? He was beyond astounded at the lack of privacy and privilege afforded the average person. He thought I was kidding about the background checks and credit report being factors in employment in the US and that they have no rehabilitation of offenders act, the level of intrusion into (even our bodies by the govt) the most sacred. Also the 60 hour work week didn't appeal to him and the healthcare bills were scary....Oh and for comparison they had their own mortgage crisis (mortgages wrapped in mutual funds that went south causing people to become "upside down " on their mortgages when they reached retirement age...but they still got their healthcare and the govt. arbitration Financial Ombudsman actually helped the people in need.

I guess I'm so liberal b/c I realized that we all could have a better life here and that what I grew up accepting as reality was shocking to civilized European countries....

Again I reiterate a point you ignore in your attack of me....protect yourself and your property using guns is Ok in Texas (even in Pasadena, TX despite Quanell X's intervening) as it should be everywhere....and I'm of course voting for Obama!

Permalink Reply by mooncookie on September 14, 2008 at 17:09

I am not saying that Rove is in the fed....WTF? I was talking about the travesties that laugh in the face of law and logic...the lack of accountability and the underfunding of the SEC to police the de-regulated financial industry. I was flooding my post with too many ideas I see and sorry that you were confused. That's what I get for trying to simplify my ideas...I'm no Chomsky!

I don't paint landscapes either, for the record... and my industry seems to be the only one that is not affected by the economic situation (Damien Hurst's 100 million dollar price tags and straight to auction distribution).

I'd like to thank all the real republicans (multimillionaires and old money blue-bloods) for all of their support and eager consumption of my pieces...it's really about the texture to me and my fans (hard to convey on jpg)...what I love best about you is that you don't look at the price tag!

The federal Reserve is a part govt. part private org. I know quite a bit about it and much of my understanding would further confuse you....so I digress

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