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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (138682)	8/8/2001 2:47:31 PM
From: TimF	Read Replies (1) \| Respond to of 1578127

David maybe nothing is new but that still doesn't mean it is good. I'm all for allowing drilling in a small section of the ANWR but I am against special tax breaks or anything that causes the tax code to become more complex or for it to have more of an impact on economic decisions. If the drilling makes sense economically go for it but there is no need to subsidize it. Tim

To: i-node who wrote (138682)	8/8/2001 5:00:28 PM
From: tejek	Read Replies (1) \| Respond to of 1578127

Tax law has long recognized the risk involved in oil & gas development and, accordingly, has given favorable treatment to Intangible Drilling & Development Costs for years; likewise, depletion, which has been a basic premise of the Internal Revenue Code since '39. So what's new? It has long been acknowledged as US Tax Policy to give favorable tax treatment for activities you want to encourage (ever heard of the Investment Tax Credit?) I really don't see what you're excited about. And you say the Dems. are crazy....the oil/nat. gas sector has been making $$$ hand over fist as evidenced by the run their stocks have had and you say its perfectly reasonable to hand over 23 billion dollars worth of tax cuts to them. What a hypocrite...if the Reps. said it was in the interest of national security to erect a statute made of gold in Bush's honor, you would go for it. What? Are you a paid official of the party? Its the only thing that makes sense.