Oil Subsidies

[RickN]

Oh sure no spin at all in your post.

Post 73,

According to the most recent study by the Congressional Budget Office, released in 2005, capital investments like oil field leases and drilling equipment are taxed at an effective rate of 9 percent, significantly lower than the overall rate of 25 percent for businesses in general and lower than virtually any other industry.

From post 78.

CBO puts oil companies effective tax rate at closer to 9% or lower than any other type companies.

And this with no links to the CBO report.

So far all I have seen you post could have, and probably did come direct from Think Progress just like your attacks on the Koch brothers.

 

[Dale00]

fact is Exxon/Mobil is one of the most profitable companies on the face of the earth. and the fact they paid ZERO federal taxes for 2009 is FACT.... no matter what kind of spin you put on it... that will not change

Maybe they didn't make a profit in 2009. Maybe they deferred earnings until the next year like other companies in other industries can do. I don't know.

I do worry about people, such as Maxine Waters, who advocate imposing extra taxes or regulations or even nationalizing companies like Exxon. Such moves tend to have bad effects.

 

[RickN]

Dale if you read the links I posted it explains what happened in 2009.

or instance, the liberal Center for American Progress quoted Jeffers saying that the company's tax figure for 2009 was heavily influenced by a holdover tax issue from 2008 that was technically recorded on its 2009 books. "ExxonMobil was required to bolster its pension plan by $3 billion when the market went down in 2008," wrote CAP's Sima J. Gandhi. "This overpayment reduced the amount of taxes owed in 2008, but the tax adjustment wasn't made until one year later, which led to an overpayment and the refund in 2009."

The three-year tax numbers listed on the 10-K do seem to suggest that the company's 2009 tax bill was unusual. In 2007 and 2008, the equivalent tax totals on the 10-K were $4.5 billion and $3.4 billion, respectively, which suggests that some unusual factor reduced the ExxonMobil tax bill into negative territory for 2009.

 

[_CY_]

not true... I put a link to the CBO document in question.
the congressional budget office like the FTC and FCC is a federal agency, unlike politicians are bound by criminal laws against printing intentional falsehoods.

Fox news and Cato institute are not handicap by the same criminal laws. unlike CBO, which are bound by criminal laws. which is more believable?

if you call data from the CBO spin, information from Cato institute fact, then this exchange is a waste of my time.

anytime I posted hard data, unlike your posts. I put where data come from. otherwise it would be spin, like ALL of your articles/links posted in this thread. either the data is not verifiable and/or put in a form that data takes extensive research to be verifiable.

Oh sure no spin at all in your post.

Post 73,



From post 78.



And this with no links to the CBO report.

So far all I have seen you post could have, and probably did come direct from Think Progress just like your attacks on the Koch brothers.

 

[RickN]

I must have missed the link and will go back and look again.

EDIT: OK I found your link and it is the same one I have. Are you really sure you want to stand by what you posted or do you want a chance to reread it and try again????

 

[Hobbes]

That is funny coming from I guy who regularly spews Think Progress and other far lefty talking points and stats.

To be fair Rick, you regularly spew talking points from powerline.com and it's just as biased as Think Progress is.

If you had bothered to really read the second link, you would notice they are talking the complete tax rate and not just income tax. Something almost every one of the talking points you have quoted seems to skip over.

Again, if fair debate is really the goal here, this argument is opportunistic as best.

The right loves to quote "47% of Americans didn't pay any income tax at all" and they ignore the 'other' taxes they pay like FICA, Medicare, sales and local state taxes.

But when it comes to EM you are switching the argument around and saying "well what about the other taxes they pay?"

You can't have it both ways.

Pick one line of argument or the other and maintain a consistent standard or I'm through with this thread too.
I'm not going to waste my time arguing with intellectually shifty debaters.

 

[RickN]

To be fair Rick, you regularly spew talking points from powerline.com and it's just as biased as Think Progress is.



Again, if fair debate is really the goal here, this argument is opportunistic as best.

The right loves to quote "47% of Americans didn't pay any income tax at all" and they ignore the 'other' taxes they pay like FICA, Medicare, sales and local state taxes.

But when it comes to EM you are switching the argument around and saying "well what about the other taxes they pay?"

You can't have it both ways.

Pick one line of argument or the other and maintain a consistent standard or I'm through with this thread too.
I'm not going to waste my time arguing with intellectually shifty debaters.

One, Powerline is biased to a point but no where near as bad as Think Progress. More along the lines of the NYTs and they usually back it up with links to supporting facts.

Two, before you accuse me of being a intellectually shifty debater, find a single post where I said anything about the 47% that do not pay income taxes. I do not believe you will, but in fact the second link CY and I were discussing is still referring to income taxes which is what I thought this debate was about. None of those taxes are US income taxes, but income taxes paid overseas, which goes back to our earlier post about lowering the US income tax rate.

I should also point out the CBO report CY is talking about and the 9% rate he quoted is not total income taxes either, but the tax rate on certain assets.

 

[Hobbes]

Multiple choice question for tonight.


Who paid the highest tax rate last year?

A. Warren Buffet

B. Exxon Mobil

C. GE

D. Warren Buffet's secretary




And a bonus question for 5 extra points.

Who created a thread about "Warren Buffet's hypocrisy"?

 

[RickN]

Multiple choice question for tonight.


Who paid the highest tax rate last year?

A. Warren Buffet

B. Exxon Mobil

C. GE

D. Warren Buffet's secretary




And a bonus question for 5 extra points.

Who created a thread about "Warren Buffet's hypocrisy"?

E, Walmart. The stores the left loves to hate.

I did and I stand by it.

 

[Hobbes]

E, Walmart. The stores the left loves to hate.
.

Aannngghh. Wrong Answer Rick
I'm sorry, you won't be returning on next weeks 'Guess Who Pays The Highest Tax Rate' game show.

Walmart’s Mike Duke said that his company paid an effective corporate tax rate in 2010 of 32.2 percent,

LINK
I'll bet you paid more than that yourself and I know that Warren Buffet's secretary paid 34%


Still, it's a higher rate than they should be required to pay and I could feel sorry for them if they didn't cheat so much on their STATE income taxes.
Like paying themselves rent on their stores and then deducting that rent on their state income taxes.

Google it up. It's very interesting.

BTW, the correct answer was D