How much does the ArklaTex stand to lose in taxes if Obama wins?
My guess is if income tax rates are increased to the amount stated under his plan, that billions more in taxes on royalties and lease bonuses in the ArkLaTex will be sent to the government. Even a 10 acre landowner who gets a nice leasing bonus is gonna get nailed for being one of the "evil" rich people making more than 250k per year in household income.
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Replies to This Discussion
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Permalink Reply by Dorcheated A1 on
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Who said we are not top dog Europe or you. Sounds like you have a CPA to structure your taxes are you trying not to pay them.
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Permalink Reply by Count of Monte Cristo on
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Funny how you liberals always rail against the spending in the Iraq War... what has that amounted to now... about ONE trillion or so? How many more trillions would a national health care system cost? Probably at least 20-30 trillion! Don't even start lecturing us on fiscal responsibility! The way you make it sound, we should just send all of our paycheck to the government because they can spend it better than us. Yeah right!
My car is in the shop getting a tune up today! But that is not the point, proper tire pressure will not solve our nation's energy crisis. Build up air pressure in your tires too much, and you'll have a blowout on the road. Think about the carbon footprint of that big ole tow truck coming out to haul your car away. Drilling everywhere for oil and gas along with investments in alternative energy and modest conservation will be needed.
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Permalink Reply by Martin on
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Twenty to thirty trillion for a national health care plan? Please give your sources for that claim. Sounds like a SWAG to me.
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Permalink Reply by Count of Monte Cristo on
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Medicare is going to cost this country at least 30-40 trillion (higher according to some estimates), obviously the cost of universal health care can't be specifically nailed down until the actual bill is proposed or passed. If you need a source on that Medicare cost, might I recommend Alan Greenspan's book, "the Age of Turbulence," specifically the chapter "The World Retires, but can it afford to?" But if Obama's plan is passed, Medicare costs will be small compared to universal health care costs, imo. We'll have to see if he'll come out with the actual nuts and bolts of his plan this fall...
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Permalink Reply by Dorcheated A1 on
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Martin
I'll give you some numbers you can look up. Canada's population is around 33 million people, they spend about 160 billion dollars a year on health care, that covers about 70% of each person cost. The United States has a population of 304 million people almost 10 times more people. So to give you a comparison the Iraq war after 5 years has cost the US close to 600 billion dollars, a National Health Care system would cost the US around 1.6 trillion a year. That's right, you could fund the Iraq war for 10 years at what it would cost National Health Care system 1 year.
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Permalink Reply by Natch N3 on
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Homer, you're right! And what is so dissappointing is that the oil companies operate at a smaller profit margin than say, pharmaceutical companies. The oil companies to not set the price of crude. Obama is also failing to explain that oil companies pay the largest portion of our country's taxes and the profits are distributed to the shareholders who are mostly the working clas i.e. teachers, police officers. etc who have their retirement based in the oil companies. You are right, Obama is all about wealth redistribution which is straight out of the socialist playbook... watched Dukakis defending Obama's tax plan and he slipped up and told the host that our earnings belong to the American people..not unlike Maxine Waters saying we need to social..uh...nationalize the oil companies. Yeah, my thoughts are with you.
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Permalink Reply by Natch N3 on
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furthermore, all these fans of the Big O will surely get surprised when their employer explains to them that due to increased taxes, healthcare, etc. their bonuses won't be coming or better yet their jobs have been rifted. Yep, lets all do the Big O and I'm not talking about oil.
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Permalink Reply by KT on
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Well I stayed up late and read all of this and now my head is swimming with all the facts and near facts and total bs. All I can remember germane to this discussion is a semiquote from Ayn Rand: "From each according to his ability. To each according to his need." I think Atlas Shrugged?. Corporate America is not all good. Taxes to fuel corporate wars are just as wrong as those that fuel the eternal ever-so-needy multitudes. I don't do loaves and fishes. And I am a bit smarter than the Little Red Hen. Better than half my income is cash - legal but not taxed. I plan to keep it that way. Great posts everyone.
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Permalink Reply by deh8490 on
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Your quote "from each according..." is not from Ayn Rand, but rather, from Karl Marx. As far as your cash income can we assume that you will not be participating in the Haynesville Shale mineral leasing? It would mean more for the rest of us.
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Business vehicle, dinner, expense padding, trips, slush, and an old reliable: under-reporting. Yes I am participating. As are the OGs. On three sides. Land, stock, and peripheral supply. As always in my own way. Knew some wouldn't see my point. Doesn't matter. And thanks for the correction. Though I believe Rand used the quote to scare the reader. Apologies for confusing the two.
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Permalink Reply by Dorcheated A1 on
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Wasn't Karl Marx a comedian. He had a older brother named Groucho.
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