"Sticking it!!!"
Posted on 04/28/2011 3:35:00 PM PDT by Hawk720
House Budget Committee Chairman Paul Ryan called for ending oil subsidies Thursday, further complicating Republican efforts to stay on message about rising gas prices.
The Wisconsin Republican told constituents at a Waterford, Wis., town hall meeting that he agreed that federal oil subsidies ought to end.
“We’re talking about reforming the safety net, the welfare system; we also want to get rid of corporate welfare. And corporate welfare goes to agribusiness companies, energy companies, financial services companies, so we propose to repeal all that,” Ryan said in response to a question about oil subsidies.
A video of Ryan's town hall meeting was circulated by Think Progress, a blog run by the liberal-leaning Center for American Progress Action Fund.
In a statement to POLITICO, Ryan’s office said the House-passed budget resolution “clearly states that as part of an overall corporate tax reform, tax loopholes and deductions for all corporations should be scaled back or eliminated entirely. That obviously includes oil companies. Elsewhere, we state that subsidies for all energy companies need to be reduced or eliminated so that we can get government out of the business of picking winners and losers in the market.”
(Excerpt) Read more at politico.com ...
“I did not know all that. Thank you for the info.”
Ditto.
Tack on transmission charges, and lower revenues from domestic production, and you what have is probably $8-10 gallon gas without the dollar devaluation.
I can't beleive our legislators (both sides) are this stupid.
It's kind of a dumb thing to do. During continuing high levels of industrial depreciation you should be REDUCING the period of depreciation.
Sounds like a true conservative to me.
Government manipulation of the masses is an expensive endeavor.
The money has to come from somewhere.
Lately it is a race between government inflationary tactics and taxes as to how the wealth is taken.
Since taxes are so unpopular government has taken the printing route to take our wealth via inflation.
They seem to always get it one way or another.
How about ending all subsidies?
Uhm, that would be agribusiness.
The indirect subsidy that increases the market price of corn.
That is, the law that requires gasoline contain at least 10% ethanol.
Although I am far too uninformed to intelligently compare tax rates between industries and services I completely agree with the statement above.
“I bet the Oil companies wouldn’t care a bit about subsidies if the government would remove the boot from their neck and allow them to drill the massive amounts of energy we have here in America.”
Exactly. The subsidies are not needed, trust me.
I don’t think so. Ending ALL subsidies eliminates all the green efforts. Given a level playing field I’ll put my bet on the O&G companies to do okay. Green companies cannot compete fairly and won’t survive without government subsidies. So yeah, end them all.
Small O&G companies will be really hurt, which is a concern, but it the end affects all companies I am confident there would be investment to help small O&G companies.
Simply, just get the government OUT of business.
” Ryan turns RINO.......ugh “ ====================
Actually Ryan is a deadly serious realist.
We are subsidizing the Petroleum Club with Chinese money. We are now even at war on Chinese yens. We are broke. What was cool yesterday is so yesterday, because it is so gone as to be over. We are broke, but for what the Chinese agree to loan us. To have even a prayer to recover all things must be on the table. I say slash it ALL-L-L-L and fast. We can re-instate essentials as necessary.
When we’re hearing that some big oil is reaping record profits ... frankly, it’s a little understandable that politicians would favor not subsidizing some of the big oil companies.
Boehner made it clear that only SOME subsidies for the largest companies might be looking at a reduction or discontinuation. Not ALL oil companies.
At $100 plus for a barrel of oil, they don't need "subsidies" taking huge risks in exploration and development.
Oil at $40 a barrel... They probably do
It's all relative the economic times
Why is the US paying for companies to turn food into ethanol? Why is the US paying for farmers to grow food to turn into ethanol? Why is the US paying billions for companies to develop technologies that will not work?
Make the Democrats say no.
At some point in time, the Chevrons Shells, and ExxonMobils of the world are going to say the PR backlash just isn't worth it, and will take their equipment, manpower, and resouces to an area which will welcome the resouces, jobs, and tax base.
Ryan calling for this is jaw dropping and incredibly disappointing.
As I understand this so-called subsidy is depreciation.
Business asset has a useful life so does an oil well.
That’sstandard business practice and accounting. But our government misleads again.
o
In addition. IF these so-called subsidies are ended, it has to be across the board.
R&D is an expense companies can deduct. Well, exploration for possible drilling sites is nothing more than R&D for an oil company. If it’s ended for one, end it for all.
"Sticking it!!!"
” End all subsidies. No other option. “
Thank you paulycy! There are so few realists left, however, that our country may not survive. But thank God you are one of the very few. We are all yen now but we want to borrow to subsidize? Sheesh.
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