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Permalink Reply by intrepid on June 3, 2009 at 4:03

From the article: "By the end of the next decade (2019), restrictive permitting and tax policies will reduce the potential annual government tax take from oil and gas production by more than the total expected yield of the Obama tax program in the oil and gas sector. In the ten years to 2019, the time-frame used in the government’s tax increase proposal, restrictions and new taxes will have reduced the tax take from oil and gas production by more than $118 billion, or about 4 times the expected yield of the new taxes. Some deal, eh? "

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Permalink Reply by sesport on June 3, 2009 at 5:15

Pipeliner - Thanks for the heads-up. Bookmarked to reread later & look at that new & improved EIA report.

best :0)

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Permalink Reply by Grillin' - MmmMmm on June 3, 2009 at 16:23

Only because consumers can't do without the product (oil, gas, gasoline) and the oil/gas companies will pass along all of these ridiculous taxes on to the consumer one way or the other. So while Jim Krow's buddy Chairman Obamma says he's taxing the big bad oil/gas companies, he's really just taxing you everyday citizens. "no one making less than $200,000 will see their taxes rise"...yeah right. What a blow hard! One way or another, these taxes will be paid for by consumers like the everyday Joe Citizen. Remember, businesses don't really pay taxes, their customers do!!!! Comrade Barry O, please take more of our money and waste it on gov't spending! Please please! Barrrrfffffffff!

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Permalink Reply by P.G. on June 4, 2009 at 3:50

Looks like you have the party in power pegged pretty good, huh?
No wonder you are supporting them!

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Permalink Reply by Grillin' - MmmMmm on June 4, 2009 at 5:51

Yah Comrade Jim! Glad you can dismiss specific issues with how taxes apply to the everyday consumer with a "Bush this" and a "Bush that". Bottom line: this fiasco will increase costs to oil/gas companies. Very poor and average income Americans need oil/gas and buy it out of necessity. Oil/gas companies, in light of higher taxes, will charge more for their product. Higher prices paid for for Mr. Everyday American. Hence, higher costs passed on while not called a "tax" are a tax.

Glad you will be on the "plus" side of this little program. I too will be on the plus side, even though Barry O is trying to get his hand further in my pocket. I'm finding lots of ways to reduce the impact of the Joker's taxes...its what we do when faced with higher and higher confiscation. We find ways to hide/shade/protect our money from the tax man. And for every loophole he tries to close, we find a way to open another one! Heck, at this rate, I might be qualified to be on his cabinet...except all of my ways are LEGAL. His cabinet members were caught ILLEGALLY CHEATING and were given a "pass".

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Permalink Reply by Checkmateking on June 4, 2009 at 7:05

Jim Krow doesn't care who gets hurt, as long as he is doing ok, wow, that's somthing coming from a liberal. LOL

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Permalink Reply by Grillin' - MmmMmm on June 4, 2009 at 16:13

Now, some of our largest, most successful U.S. companies are stating what everyone of us on the Right have been saying:

"June 3 (Bloomberg) -- Microsoft Corp. Chief Executive Officer Steven Ballmer said the world’s largest software company would move some employees offshore if Congress enacts President Barack Obama’s plans to impose higher taxes on U.S. companies’ foreign profits.

'It makes U.S. jobs more expensive,' Ballmer said in an interview. 'We’re better off taking lots of people and moving them out of the U.S. as opposed to keeping them inside the U.S.' ”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aAKluP7yIwJY

So Oh So Knowing Teleprompter Reader In Chief, you and your stupid policies will be chasing good American jobs overseas as you try and tax everything that either doesn't fit your agenda or didn't donate to your campaign. And here's a very telling quote from the CEO of Symantec:

"Thompson called the Obama proposals 'counterintuitive' to the administration’s other stated goals of fostering an innovation-oriented economy.

'It is a little bit ironic that most of our most significant trading partners and partners globally have taken the tack that they’ll reduce corporate tax rates to stimulate economic growth and not raise corporate tax rates,' Thompson said."

Sorry MISTER Krow, even liberal type businesses in the Tech industry are starting to see where BoMamma BoBomma is trying to take us! Fail you socialist fools. FAIL FAIL FAIL.

And quit nominating racist judges for the Supreme Court! Would you go to a surgeon who makes a mistake 60% of the time he/she operates? Well this woman he's nominated has been overruled 60% of the time! She's a horrible judge who can't seem to get her rulings to stand up to appeal! gosh, 3 times out of 5 she gets it wrong! And she's the best and the brightest? No, but she's female and she's Latino. And she's a lib. Guess that's the only qualifications that mattter in the new world order!!

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Permalink Reply by sesport on June 4, 2009 at 17:34

Okay, I read your link, but now I'm confused because it also said this...

Typically, he [Barry Bosworth, economist @ Brookings Institute] said, a company like Microsoft develops a product like Windows in the United States and deducts those costs against U.S. income. It then transfers the technology to a subsidiary in Ireland, where corporate tax rates are lower, without charging licensing fees. The company then assigns its foreign sales to the Irish subsidiary so it doesn’t have to claim the income in the United States. "

The part in bold confuses me because it sounds like Microsoft is threatening to do what they have already done ... move jobs to another country.

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Permalink Reply by Grillin' - MmmMmm on June 5, 2009 at 2:06

No, they haven't moved jobs yet; what is described is just an accounting move. What they are saying is that if this new tax is put in place, it will not allow them to deduct some of their people related costs here in the US due to the restrictions that will be placed on deductibility. So, they will move these jobs to other locations where the deductions are allowed.

Bottom line of this is our (U.S.) taxes on corporations are TOO HIGH! Many countries have lower corporate taxes, like Ireland. Ireland has seen an increase in the number of companies wanting to establish businesses there ever since they reduced their corporate tax structure. They "get it"...lower taxes attract more businesses, which increases the volume of business and improves the overall tax revenue, even at lower rates. Higher taxes drives business away.

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Permalink Reply by Grillin' - MmmMmm on June 5, 2009 at 6:20

Sorry Mister Jim. didn't get a message other than to not call you "names". I called you comrade, but we obviously aren't comrades. But since then, I've only called you "Mister", with all due respect. You're right, I don't know you other than reading what you write. You don't know me either, other than what I write. Glad to see that you don't think I own a business since I invest in the stock market. Gosh, didn't know those two things were mutually exclusive!! BTW, I do both! Put together drilling ventures and dabble in stocks and work for a company!

Based on our comments and positions on issues, I would label you Left/Liberal and me Right/Conservative. Maybe you are not-so Left...maybe Moderate or something. Don't care. Position on issues are 180 degrees from mine most of the time. So whatever is 180 degrees from Conservative is where I'd land.

I actually find your opinions, comments, posts, etc. enlightening, informative and sometimes humorous. If we all agreed this would be boring! Of course, if everyone agreed with me things would be a lot better!! har har.

Chill buddy! Its Friday and oil prices are in the $60's. If we could get gas in the $6's, we'd all be setting pretty! Or as that great American Rodney King once said "Can't we all just get along??"

Permalink Reply by Grillin' - MmmMmm on June 9, 2009 at 7:07

Mister Jim: Which condescending BS? I use so many of them its kinda hard to keep track you know. But thanks for letting me slide. I was beginning to worry Mister Jim.

Gotta go make some money for the man! Have a great day!!

Permalink Reply by intrepid on June 5, 2009 at 16:11

Looks like Obama has a JOBS plan for Ireland, too. He wants to spread the wealth around the world.

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