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

To: i-node who wrote (612543)	5/22/2011 11:05:28 PM
From: TimF	Read Replies (1) \| Respond to of 1583871

but you have five big oil companies splitting the entire world's oil company revenue. Not really. You have other private companies that are smaller but still have some of the market, and you have huge government owned oil companies in many countries, that control a lot of oil.

To: i-node who wrote (612543)	5/23/2011 10:14:54 PM
From: J_F_Shepard	Respond to of 1583871

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. "I cannot find any evidence the oil companies receive substantial "subsidies". I do believe they are the beneficiaries of certain tax incentives, just like practically every other business in America. " 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. “The flow of revenues to oil companies is like the gusher at the bottom of the Gulf of Mexico: heavy and constant,” said Senator Robert Menendez, Democrat of New Jersey, who has worked alongside the Obama administration on a bill that would cut $20 billion in oil industry tax breaks over the next decade. “There is no reason for these corporations to shortchange the American taxpayer.” Oil industry officials say that the tax breaks, which average about $4 billion a year according to various government reports, are a bargain for taxpayers. By helping producers weather market fluctuations and invest in technology, tax incentives are supporting an industry that the officials say provides 9.2 million jobs. "Tax havens are NOT a product of bad tax law. They are a product of highly competitive global operating environments, where some countries choose to be more accommodating to foreign corporations. Countries like the U.S., that penalize corporations with high tax rates, are getting what we asked for." That is the biggest piece of crap I've heard.... Those companies make their money here, why allow them to beat taxes here..... Why is it illegal for you to hide your money in offshore accounts???? "They SHOULD be making a lot of money." Does someone owe someone else a living ????? That's very contrary to conservative thinking....