DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Oil, Subsidies, Profits and Taxes.. Suck a dong, liberals.

**DadaSeeva** · 04-01-2012, 05:49 PM

Really excellent article here by a Reagan Economist:

http://www.realclearpolitics.com/art...in_113686.html

Oil companies have an effective corporate tax rate well above 40 percent. And they operate within one of the highest-taxed industries in America. According to the Tax Foundation, for more than 25 years, oil and gas companies have sent more tax dollars to Washington and state capitals than they earned in profits. That’s a fact.
Oil and gas companies finance 10 percent of non-defense discretionary spending.

ExxonMobil (The biggest) paid $59 billion in U.S. taxes over the five years prior to 2010. They earned $40.5 billion in US profits.

On subsidies? The green energy fruits got 49 times what the "fossil" industry got.

Last year, the greenies got 68 percent of energy-related tax handouts.

Oil, Gas and Coal got 64 cents per MWh in "subsidies" Big Wind? They got $56.29 per megawatt hour.

BTW, many of the Big Oil "subsidies" are just depreciation write offs for invested dollars. They get a 6% scale.. Manufacturing comes in at 9%. Everybody gets a better deal than Big Oil.

Compare this article by Larry Kudlow to the NYT's whine about BIG OIL and their evil and greed.

Big Oil’s Bogus Campaign

http://www.nytimes.com/2012/03/31/op...aign.html?_r=1

04-01-2012, 05:49 PM	#1
DadaSeeva Join Date Oct 2005 Posts 436 Senior Member	Oil, Subsidies, Profits and Taxes.. Suck a dong, liberals. Really excellent article here by a Reagan Economist: http://www.realclearpolitics.com/art...in_113686.html Oil companies have an effective corporate tax rate well above 40 percent. And they operate within one of the highest-taxed industries in America. According to the Tax Foundation, for more than 25 years, oil and gas companies have sent more tax dollars to Washington and state capitals than they earned in profits. That’s a fact. Oil and gas companies finance 10 percent of non-defense discretionary spending. ExxonMobil (The biggest) paid $59 billion in U.S. taxes over the five years prior to 2010. They earned $40.5 billion in US profits. On subsidies? The green energy fruits got 49 times what the "fossil" industry got. Last year, the greenies got 68 percent of energy-related tax handouts. Oil, Gas and Coal got 64 cents per MWh in "subsidies" Big Wind? They got $56.29 per megawatt hour. BTW, many of the Big Oil "subsidies" are just depreciation write offs for invested dollars. They get a 6% scale.. Manufacturing comes in at 9%. Everybody gets a better deal than Big Oil. Compare this article by Larry Kudlow to the NYT's whine about BIG OIL and their evil and greed. Big Oil’s Bogus Campaign http://www.nytimes.com/2012/03/31/op...aign.html?_r=1
	Quote