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Pensacola Discussion Forum » Politics » Fox Math

Fox Math

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Markle
polecat
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1Fox Math Empty Fox Math 3/14/2014, 4:35 pm

polecat

polecat

http://www.mediaite.com/tv/jon-stewart-trashes-fox-and-eric-bolling-for-food-stamp-hypocrisy/

$4million is less than $3million

When will the news readers at fox learn to not call out John Stewart.

2Fox Math Empty Re: Fox Math 3/15/2014, 12:21 am

Markle

Markle

polecat wrote:http://www.mediaite.com/tv/jon-stewart-trashes-fox-and-eric-bolling-for-food-stamp-hypocrisy/

$4million is less than $3million

When will the news readers at fox learn to not call out John Stewart.

You have NO CLUE what this was about do you? Obviously not. Also the figures in question are $4 BILLION and $3 BILLION.

As you well know, the $4 BILLION paid to ALL OIL COMPANIES is a PITTANCE compared to the AMOUNT OF TAXES PAID by the oil companies. YOU pay more in taxes when you buy a gallon of gas than the oil company makes in profit.

Do you know WHO they are talking about and the seafood shtick? I didn't think so. They probably didn't show the FACTS on your source for news, the comedy channel.

3Fox Math Empty Re: Fox Math 3/15/2014, 12:14 pm

Guest


Guest

The five biggest oil companies are making tens of billions of dollars in profits, while paying artificially low effective federal tax rates and low royalties for taking and producing oil and gas owned by all Americans. In addition, companies can evade payments into the oil-spill cleanup fund based on specific categorizations of different kinds of petroleum. Meanwhile, the five largest public oil companies continue to make billions of dollars in profits every quarter while receiving special tax breaks from Congress.

None of this makes sense, especially when sequestration is forcing steep automatic across-the-board cuts in college assistance, cancer research, and other middle-class programs. It’s time to ask the huge profit-making big five oil companies to pay their fair share.

http://www.americanprogress.org/issues/green/news/2013/05/02/62098/big-oil-profits-and-tax-breaks-remain-high-despite-sequestration-cuts/

4Fox Math Empty Re: Fox Math 3/15/2014, 1:52 pm

Guest


Guest

State and federal govt tax on fuel generates billions in revenue too. Why?

5Fox Math Empty Re: Fox Math 3/15/2014, 2:20 pm

2seaoat



State and federal govt tax on fuel generates billions in revenue too. Why?


Let me guess......when I pay for the gas a portion of my payment is taken by the government. Anything else I can help you out with as you seemed to be consistently challenged on this concept.

6Fox Math Empty Re: Fox Math 3/15/2014, 3:42 pm

Guest


Guest

The highway trust fund is an inside joke on us. Obama is calling for 300b stimulus for structure prior to the election.

how convenient

7Fox Math Empty Re: Fox Math 3/15/2014, 4:25 pm

ZVUGKTUBM

ZVUGKTUBM

The five biggest oil companies are making tens of billions of dollars in profits, while paying artificially low effective federal tax rates and low royalties for taking and producing oil and gas owned by all Americans.

That article from American Progress has a lot of holes in it. First of all, a vast quantity of oil and gas mineral rights are privately owned; with great quantities of mineral rights owned by little people. I am talking about Mom & Pop type of folks, who may have a small interest shared by brothers and sisters and cousins. These folks might get a big check from their interest; however, the odds are most are not suddenly wealthy and laughing their way to the bank every month.

I will also go as far as saying the average royalty rate on a private oil or gas lease is not 18.8% as stated in that article. Royalties on oil and gas leases are not expressed as percentages, but rather as fractions. The industry-standard royalty fraction for a minerals-owner is 1/6th, which equates to 16.6%. Energy companies will sometimes go as high as a 3/16th royalty (18.8%), but the minerals-owner has to ask for this when they negotiate a lease (the energy company won't always agree to it).

I doubt you will ever see oil companies paying a 25% royalty to anyone. If they were forced to do this, the cost would simply be passed to the consumer in the form of higher energy-costs and for anything made out of petroleum (like the plastic in your keyboard and computer mouse, for instance). And, you can increase taxes on those big-bad oil companies, but, a percentage of taxes paid at the wellhead are deducted from the royalties paid to those little Mom & Pop type of folks who are lucky enough to receive royalty payments. So, you are not necessarily hurting the oil companies at all--they will find a way to stick you (the general consumer) with their increased costs; but sadly, the minerals-owner will not have an avenue to address the increased tax-burden passed on to him/her.

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8Fox Math Empty Re: Fox Math 3/15/2014, 4:52 pm

Guest


Guest

It's similar to the corp tax... just another expense passed to us. The tax revenues are declining simply because technology is making fuel consumption more efficient. The entire industry will migrate to alternative energy naturally... given the chance.

9Fox Math Empty Re: Fox Math 3/15/2014, 4:58 pm

Floridatexan

Floridatexan


http://www.huffingtonpost.com/2013/12/17/oil-gas-royalties-public-lands_n_4460820.html

US Is Making A Lot Less Off Drilling on Public Lands Than It Should Be

WASHINGTON –- The federal government isn't doing enough to ensure it collects a "fair return" for the oil and gas that companies produce from public lands, in part due to policies on revenues for onshore drilling that are nearly a century old, according to a critical report on the Department of the Interior released Tuesday.

The Government Accountability Office, the federal government's internal watchdog, dinged the Interior Department for a continued lack of clear, updated procedures on the collection of royalties on oil and gas that come from public lands. Tuesday's report comes after previous GAO research found that the U.S. government has one of the lowest return rates for federal leases, and that Interior had not updated its assessment of the policy in 25 years.

The latest report notes that Interior has updated its terms for offshore leasing since its last report and has considered -- but not made -- changes to its onshore terms. But the department still does not have a system in place for making sure such updates happen on a regular basis. It has "discontinued its efforts to pursue revised regulations" for onshore drilling, arguing that it "does not have enough information to determine how to adjust onshore royalty rates."

"Without documented procedures, Interior will not have reasonable assurance that it will consistently conduct such assessments in the future and, without periodically conducting such assessments, Interior cannot know whether there is a proper balance between the attractiveness of federal leases for investment and appropriate returns for federal oil and gas resources, limiting Interior’s ability to ensure a fair return," the GAO concluded.

This means that the federal government is missing out on lots of money in royalties from oil and gas operations. Last year, companies made $66 billion on the sale of oil and gas they produced from public lands, and paid $10 billion to the federal government, according to the GAO report -- but it could make a lot more.

According to a recent report from the Center for American Progress' public lands project, the federal royalty rate for oil and gas onshore has been set at 12.5 percent since the 1920s. The revenues are split between the federal government and the states where the production takes place. Some states charge higher rates than the feds; Texas, for example, charges 25 percent. But those states that don't charge higher than the federal rate are bringing in hundreds of millions of dollars less than they could be, each year.

“Oil and gas production is reaching all-time highs, but taxpayers are missing out on hundreds of millions of dollars a year in revenues because the administration has not taken needed steps to modernize a nearly 100-year-old onshore royalty rate," said CAP's public lands research manager, Jessica Goad. "At the very least, the royalty rate for federal oil and gas leases should be brought into line with those of states so that taxpayers receive a fair return for the use of their natural resources."

Oil and gas drilling continued on public lands during October's government shutdown, while parks were closed to the general public, an issue that irked environmentalists.

Other advocates for higher rates point to royalties as an opportunity to address the country's fiscal concerns. “In a time of unprecedented divide in Washington over fiscal issues, Interior has the rare chance to come to the table with a simple and fair way to help replenish the federal coffers," said Ross Lane, director of the Western Values Project. "Unfortunately, DOI has so far neglected to make appropriate and timely royalty rate adjustments, and as a result has failed to collect millions of dollars that would benefit American communities."

-----------------------

10Fox Math Empty Re: Fox Math 3/15/2014, 5:11 pm

Guest


Guest

Think for yourself... this is not so complicated that you must resort to copy/paste. Who does it hurt to raise fuel tax?

11Fox Math Empty Re: Fox Math 3/15/2014, 6:24 pm

ZVUGKTUBM

ZVUGKTUBM

PkrBum wrote:Think for yourself... this is not so complicated that you must resort to copy/paste. Who does it hurt to raise fuel tax?

I am sure there are those who feel we should be like Nigeria or Mexico (or any other country where the government owns all minerals found under the ground).

The reverse argument says that because in the U.S. there exists private ownership of minerals, we have a flourishing energy industry. Other countries wish they could replicate what we have done with our shale oil and gas reserves.

http://www.best-electric-barbecue-grills.com

12Fox Math Empty Re: Fox Math 3/15/2014, 6:35 pm

Guest


Guest

My great uncle was wiped out when mexico nationalized last century... I bet it's still rich.

13Fox Math Empty Re: Fox Math 3/15/2014, 6:49 pm

2seaoat



Who does it hurt to raise fuel tax? Folks who sell inefficient vehicles. Who does it help......everybody who drives a vehicle and want good roads.

14Fox Math Empty Re: Fox Math 3/15/2014, 7:43 pm

Guest


Guest

Fox Math Images?q=tbn:ANd9GcRBX0Ndkgth1_agiIlgiPv2Ay5YCRoH_Z5VlQwdr1Qu0m81_4rRhg

It hurts the working class the most because they only get paid well enough to afford a inefficient vehicle to get to and from work. However we have a member on this forum who thinks all is good, even though he admits to his greed over the years and with tongue in cheek wants redemption, and that all should abide by his golden vision of how he views the world.

*****SARCASTIC SMILE*****

https://www.youtube.com/watch?v=njG7p6CSbCU

 Smile

15Fox Math Empty Re: Fox Math 3/15/2014, 7:56 pm

Markle

Markle

2seaoat wrote:Who does it hurt to raise fuel tax?  Folks who sell inefficient vehicles.  Who does it help......everybody who drives a vehicle and want good roads.

The people it hurts and hurts most, as you well know, are the low and middle income people who cannot afford new cars.

Who was hurt most by the failed Cash for Junkers program? Again, the low and middle income people for whom the PRICE of good used cars increased drastically because of fewer good used cars on the road.

Why are you so eager to hurt low and middle income families? They're already suffering daily with far lower average income than when President Barack Hussein Obama took office. You must like that a great deal too!

16Fox Math Empty Re: Fox Math 3/15/2014, 8:22 pm

Markle

Markle

Dreamsglore wrote:The five biggest oil companies are making tens of billions of dollars in profits, while paying artificially low effective federal tax rates and low royalties for taking and producing oil and gas owned by all Americans. In addition, companies can evade payments into the oil-spill cleanup fund based on specific categorizations of different kinds of petroleum. Meanwhile, the five largest public oil companies continue to make billions of dollars in profits every quarter while receiving special tax breaks from Congress.

None of this makes sense, especially when sequestration is forcing steep automatic across-the-board cuts in college assistance, cancer research, and other middle-class programs. It’s time to ask the huge profit-making big five oil companies to pay their fair share.

http://www.americanprogress.org/issues/green/news/2013/05/02/62098/big-oil-profits-and-tax-breaks-remain-high-despite-sequestration-cuts/

PLEASE show us all EXACTLY what SPECIAL TAX BREAKS OIL COMPANIES RECEIVE FROM CONGRESS. Oh, and don't forget the link to a NON-PROGRESSIVE source.

You're far left wing source, SOMEHOW, missed how much those same oil companies PAY IN TAXES. You know, Federal, State and Local. If you can't, or won't do that, then this makes no sense whatsoever. Which, is something we're all accustomed to with Progressives!

Fox Math AnimatedLaughterPink

17Fox Math Empty Re: Fox Math 3/16/2014, 12:32 pm

Guest


Guest

The Congressional Joint Committee on Taxation estimated that three tax preferences provide $24 billion per decade in annual benefits to these five companies. The “limitation on Section 199 deduction,” designed to encourage domestic manufacturing to remain on shore, costs the Treasury $14.4 billion per decade for these five companies. The foreign tax credit deduction saves the big three domestic oil companies $7.5 billion per decade. The “intangible drilling costs” deduction saved the five companies another $2 billion.

Read more: http://www.realclearpolitics.com/articles/2014/01/17/big_oil_big_profits_big_tax_breaks_121262.html#ixzz2w8zWuMcQ
Follow us: @RCP_Articles on Twitter
http://www.realclearpolitics.com/articles/2014/01/17/big_oil_big_profits_big_tax_breaks_121262.html

LOL at you,Markle.

18Fox Math Empty Re: Fox Math 3/16/2014, 1:10 pm

Guest


Guest

Don't you see what the left really wants? I do

They hate successful businesses.

How much more attacks on those provide jobs in this country can we take?

These lefties sit around pumping their zombified base that big biznez is bad. class warfare to appease the lazy, dumb and un-productive.

19Fox Math Empty Re: Fox Math 3/16/2014, 2:57 pm

knothead

knothead

Dot wrote:Don't you see what the left really wants? I do

They hate successful businesses.

How much more attacks on those provide jobs in this country can we take?

These lefties sit around pumping their zombified base that big biznez is bad. class warfare to appease the lazy, dumb and un-productive.

I disagree with your conclusion . . . someone asked what 'tax breaks' do the oil companies get and they were included as information. If you see that as an attack on big business, fine . . . I do not. My interpretation is a rational question, with such a shortfall of revenue, why would we continue these corporate tax breaks at all . . . perhaps scale them back and use that for building infrastructure and creating jobs . . .

20Fox Math Empty Re: Fox Math 3/16/2014, 3:04 pm

Guest


Guest

The corp tax is ultimately just another layer of tax on consumers... an expense that is passed on.

21Fox Math Empty Re: Fox Math 3/16/2014, 3:09 pm

knothead

knothead

PkrBum wrote:The corp tax is ultimately just another layer of tax on consumers... an expense that is passed on.

Well no shit pkr . . . profound . .

Started to delete because of poor taste . . . pkr does not deserve a barb like that . . . sorry dude.

22Fox Math Empty Re: Fox Math 3/16/2014, 3:20 pm

Guest


Guest

knothead wrote:
Dot wrote:Don't you see what the left really wants? I do

They hate successful businesses.

How much more attacks on those provide jobs in this country can we take?

These lefties sit around pumping their zombified base that big biznez is bad. class warfare to appease the lazy, dumb and un-productive.

I disagree with your conclusion . . . someone asked what 'tax breaks' do the oil companies get and they were included as information.  If you see that as an attack on big business, fine . . . I do not.  My interpretation is a rational question, with such a shortfall of revenue, why would we continue these corporate tax breaks at all . . . perhaps scale them back and use that for building infrastructure and creating jobs . . .  

scale what back knot?

scale tax breaks back so biznez makes less and who is going to create those jobs? the GOV with the income from the taxes? lol


so you want the GOV to create jobs with its tax revenue it seems? LOL


23Fox Math Empty Re: Fox Math 3/16/2014, 3:25 pm

Guest


Guest

knothead wrote:
PkrBum wrote:The corp tax is ultimately just another layer of tax on consumers... an expense that is passed on.

Well no shit pkr . . . profound . .

Started to delete because of poor taste . . . pkr does not deserve a barb like that . . . sorry dude.

No need to apologize. I just have to play captain obvious sometimes because the context becomes skewed.

Business and production don't need subsidy or penalty the way I see it... just a level playing field.

24Fox Math Empty Re: Fox Math 3/16/2014, 3:39 pm

Guest


Guest

PkrBum wrote:
knothead wrote:
PkrBum wrote:The corp tax is ultimately just another layer of tax on consumers... an expense that is passed on.

Well no shit pkr . . . profound . .

Started to delete because of poor taste . . . pkr does not deserve a barb like that . . . sorry dude.

No need to apologize. I just have to play captain obvious sometimes because the context becomes skewed.

Business and production don't need subsidy or penalty the way I see it... just a level playing field.

Fox Math Images?q=tbn:ANd9GcSX2nNVGf-1TJDoyQ572on1Tc6UXNd_uxUNhmLOQoY0Uco2PB20

*****WARM SMILE*****

https://www.youtube.com/watch?v=klKCeFDnDiI

 Smile 

25Fox Math Empty Re: Fox Math 3/16/2014, 3:42 pm

knothead

knothead

PkrBum wrote:
knothead wrote:
PkrBum wrote:The corp tax is ultimately just another layer of tax on consumers... an expense that is passed on.

Well no shit pkr . . . profound . .

Started to delete because of poor taste . . . pkr does not deserve a barb like that . . . sorry dude.

No need to apologize. I just have to play captain obvious sometimes because the context becomes skewed.

Business and production don't need subsidy or penalty the way I see it... just a level playing field.

As much as I hate generalizations, I believe extreme scrutiny should be given to all tax loop holes, carve outs, etc., and make an unbiased determination as to which ones have merit and those that do not. The tax code is filled with all these favors to various entities and neither party have the balls to deal with them realistically.

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