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<blockquote data-quote="_CY_" data-source="post: 1609301" data-attributes="member: 7629"><p>don't put words in my mouth... never said Koch brothers were evil... I stated the FACT they are billionaire as a result of petroleum and chemical inheritance. naturally they would have a vested interest in keeping Billions $$$ of federal subsidies and tax reductions intact. the same for Exxon/Mobil. </p><p></p><p>quite frankly I would put anything written by Cato institute just as reliable data from Fox news. </p><p></p><p>neutral parties like Congressional Budget Office (CBO) are light years more believable. here's a starter....</p><p></p><p>according to the CBO... the effective tax for oil companies after subsidies and tax breaks, etc. is 9% or lower than any other business. who's average rate is closer to 25%. </p><p></p><p>OK... ready for your ultra right wing spin... </p><p></p><p>this is just the first stage of research related to your article... more coming.</p><p></p><p>----------------------------------</p><p></p><p>According to the most recent study by the Congressional Budget Office, released in 2005, capital investments like oil field leases and drilling equipment are taxed at an effective rate of 9 percent, significantly lower than the overall rate of 25 percent for businesses in general and lower than virtually any other industry.</p><p></p><p>And for many small and midsize oil companies, the tax on capital investments is so low that it is more than eliminated by var-ious credits. These companies’ returns on those investments are often higher after taxes than before. </p><p></p><p><a href="http://www.cbo.gov/ftpdocs/67xx/doc6792/10-18-Tax.pdf" target="_blank">http://www.cbo.gov/ftpdocs/67xx/doc6792/10-18-Tax.pdf</a></p></blockquote><p></p>
[QUOTE="_CY_, post: 1609301, member: 7629"] don't put words in my mouth... never said Koch brothers were evil... I stated the FACT they are billionaire as a result of petroleum and chemical inheritance. naturally they would have a vested interest in keeping Billions $$$ of federal subsidies and tax reductions intact. the same for Exxon/Mobil. quite frankly I would put anything written by Cato institute just as reliable data from Fox news. neutral parties like Congressional Budget Office (CBO) are light years more believable. here's a starter.... according to the CBO... the effective tax for oil companies after subsidies and tax breaks, etc. is 9% or lower than any other business. who's average rate is closer to 25%. OK... ready for your ultra right wing spin... this is just the first stage of research related to your article... more coming. ---------------------------------- 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. And for many small and midsize oil companies, the tax on capital investments is so low that it is more than eliminated by var-ious credits. These companies’ returns on those investments are often higher after taxes than before. [url]http://www.cbo.gov/ftpdocs/67xx/doc6792/10-18-Tax.pdf[/url] [/QUOTE]
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