Skip to comments.Palin: End All Energy Subsidies
Posted on 06/01/2011 5:55:00 PM PDT by Kaslin
Energy Policy: The former governor of energy-rich Alaska calls the administration's bluff: End tax breaks for all forms of energy, she says, and let the free market pick winners and losers. End the ethanol pandering too.
She isn't running, or riding, for president, at least not yet. But at a stop on her One Nation bus tour, Sarah Palin offered a winning idea for an economy strapped for energy and jobs and saddled with unsustainable debt.
"I think all our energy subsidies need to be re-looked at today and eliminated," Palin told Scott Conroy of Real Clear Politics during a quick stop at a coffee shop. "And we need to make sure that we're investing and allowing our businesses to invest in reliable energy products right now that aren't going to necessitate subsidies because, bottom line, we can't afford it."
These would be genuine, private investments that create wealth and produce tax revenues, not government subsidies to politically favored energy sources that consume taxes and reduce wealth. Palin, in stark contrast to former Massachusetts Gov. Mitt Romney, took particular aim at ethanol subsidies that cost taxpayers about $5 billion last year.
Democrats like to rail against "oil subsidies," the elimination of which they say would save about $20 billion over 10 years. That's less than the $26 billion the Energy Department, which produces no energy, consumes in one year. Never mind these annual tax credits are afforded to almost every other industry.
The government is hardly losing money on the deal considering that, according to the American Petroleum Institute, the oil industry generates almost $100 million of revenues per day in income taxes, excises and royalties for the federal government. That's on top of an effective 55% corporate tax rate that is higher than in most industries.
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Amen I say
Kill all the incentive to look for oil. They (Oil Companies) will be glad to take their toys overseas. Sheesh.
Energy Policy: The former governor of energy-rich Alaska calls the administration’s bluff: End tax breaks for all forms of energy, she says, and let the free market pick winners and losers. End the ethanol pandering too.
The dems love to run as hope and change, but Palin is the real deal.
She’s the REAL maverick outsider. The insiders are probably looking at her, and shaking in their boots.
First thing she has said in a while I can get behind her on. Overall though, I think she is becoming an attention whore. She needs to put her hat in the ring or step out of the limelight.
I don’t think I would use those words, but she does seem to be in a mode of mega self promotion right now.
She doesn’t give them the itenary, but the media chooses to chase her around anyway. Does that sound like excess self-promotion to either of you ?
Please refrain from using ugly language. Would hate for you to get zotted. BTW, how does she convert the masses without getting into the public? Hmmmmm?
She is running. She is a fearless leader and most excellent role model. She even taught me something today.
Didn’t she announce her so called tour was going “national”? Sounds like a vague itneary to me.
These incentives help drive domestic production, which in turn helps, local, state, and overall national economy. You know or understand little of the dymanics involved with drilling. There is a huge upfront cost and risk involved deploying equipment of this type. If there is more incentive economically to drill elsewhere, they'll do it.
Anyway, you lost me with the name calling doufous, and while she is at it, maybe President Palin can invoke an Oil Windfall Profit Tax, like she did in Alaska.
I got a better idea. Let's end subsidies for absolutley everything. I mean everything
It will remove all of those incentives for renewable boondoggles which dwarf the oil tax incentives. They don’t drill because the Interior won’t let them.
Pray for America
Potty mouth.. Don't resort to name calling, that's for RATS that have no argument. When I see name calling, I don't bothering reading the rest of your comments....
Can u haz a grammar?
My son and I were discussing this today and we think that she’s up to something. It’s not that she’s an attention whore.
She knows what she’s about, and what she’s doing, she’s doing for a reason. We haven’t exactly figured out what that could be yet, but we think it has something to do with playing the MSM.
Oil is its own incentive. Drilling for profit. Excess government involvement doesn’t help anything.
Wait a second - did she invite the media or are they on her 24/7?
The media are the whores along with liars.