Big Oil Subsides

[essence]

Originally Posted by BigLouie

OK here is it. One tax break that I know of because I helped a company deal with it last week is section 199, the QAPI program. QAPI is equal to the business domestic production gross receipts (DPGR) from qualified activities minus expenses. Expenses such as cost of goods sold, direct and indirect costs and a ratable portion of costs all allocable to the receipts. All production must be conducted within the United States and is limited to 50% of all related W-2 wages paid for the production activities. Currently the break is 9%.

I don't understand this, and don't know what this dollar amount is. Of course specialised industries have special tax rules. If you are a landlord (in the uk) you get tax alowances on wear and tear. So what? It is not a 'tax break' or 'tax avoidance', it is just how tax authorities have chosen to reflect the realities of different industries.

Another example - some industries can claim allowances for clothing, others can't.

So what?

The issue is whether these tax regulations are fair, and they have to be debated on an item by item basis, rationally and clearly.

Otherwise, huff and puff, be the good politician, play to the uneducated masses.

So, do you think QAPI is fair or not, and give your reasons, you are clearly very knowledgeable in this area so must have some coherent educated views.

[CuteOldGuy]

Essence, you misunderstood my question. What was the cause of these stupid, illegal wars?

[BigLouie]

What is so weird about QAPI is that it is written to apply to basically two industries, the oil and gas production industry and the movie industry.

[essence]

Originally Posted by BigLouie

What is so weird about QAPI is that it is written to apply to basically two industries, the oil and gas production industry and the movie industry.

I still don't understand what QAPI is, how much money is involved, and whether it is fair or not.

Until then I am still looking for evidence of unfair oil and gas tax breaks.

[WTF]

Originally Posted by essence

I still don't understand what QAPI is, how much money is involved, and whether it is fair or not.

Until then I am still looking for evidence of unfair oil and gas tax breaks.

fair is like pretty. One mans lump of coal is another mans diamond.

[CJ7]

Originally Posted by essence

I still don't understand what QAPI is, how much money is involved, and whether it is fair or not.

Until then I am still looking for evidence of unfair oil and gas tax breaks.

the origin of oil subsidies came to be during oil's struggle to survive, similar to the banks earlier this decade. Subsidies are fine by me if a small wildcat company with a few wells needs $$ aid to stay afloat. A company with a 40 Billion$ bottomline apparently doesnt need taxpayer help when the entire country is hurting.

Times change, needs change, the legalese should change to meet both.

Mention tax, and logic seems to escape the logical even though its costing them $

[i'va biggen]

when oil was $10.00 a barrel it was necessary now when it is around $100.00 a barrel they should be able to fly on their own.

[CJ7]

Originally Posted by ekim008

when oil was $10.00 a barrel it was necessary now when it is around $100.00 a barrel they should be able to fly on their own.

exactly


IMO qualifying for subsidies this day in time is the most reasonable solution ... if you make X amount of $ you qualify, if you make more than X amount of dollars you dont . Simple.

subsidies to Exxon is like a millionaire going to a free clinic for stitches

[essence]

Originally Posted by CJ7

exactly


IMO qualifying for subsidies this day in time is the most reasonable solution ... if you make X amount of $ you qualify, if you make more than X amount of dollars you dont . Simple.

subsidies to Exxon is like a millionaire going to a free clinic for stitches

I agree - but phrases like 'subsidies to Exxon' are repeated again and again, but nobody can say what these subsidies are or how much they are worth, so to me it is simply an endless repetition of a lie, until somebody comes up with something sensible.

Don't tell me QAPI is an example, it has not been explained or quantified or justified.

[CJ7]

Originally Posted by essence

I agree - but phrases like 'subsidies to Exxon' are repeated again and again, but nobody can say what these subsidies are or how much they are worth, so to me it is simply an endless repetition of a lie, until somebody comes up with something sensible.

Don't tell me QAPI is an example, it has not been explained or quantified or justified.

then if I were you I'd write Boehner and ask him exactly what subsidies the House was dead set on protecting ... and what theyre worth. Feel free to include republican politicaians in said lie repetition.

[gnadfly]

Originally Posted by essence

I agree - but phrases like 'subsidies to Exxon' are repeated again and again, but nobody can say what these subsidies are or how much they are worth, so to me it is simply an endless repetition of a lie, until somebody comes up with something sensible.

Don't tell me QAPI is an example, it has not been explained or quantified or justified.

You are being RickRolled. They have no intention of presenting facts.

Originally Posted by CJ7

then if I were you I'd write Boehner and ask him exactly what subsidies the House was dead set on protecting ... and what theyre worth. Feel free to include republican politicaians in said lie repetition.

Because it is Obama using the 4 billion figure in his class warfare/re-election speeches. Just like he used the 200 billion figure in Medicare fraud to justify in Obamacare. Just like he used the bad bridges that he couldn't identify to push his Infrastructure Bill. He's depending on the unquestioning media to shove his agenda down the throats of gullible Americans.

Its also the subject of the thread. Yep, you are an Obama backer. I'm tired of your flyover posts. Welcome to ignore.

[cptjohnstone]

Originally Posted by joe bloe

The way I heard the story, IBM was desparate for an operating system. They were trying to get a personal computer on the shelf in one year; that was really fast for IBM.

Gates didn't have what they wanted and referred IBM to someone else (Gary Kindall I guess). The punch line is the guy Gates referred them to insisted that his lawyer be involved in every step of the process, so much so that IBM gave up on him and went back to Gates. Gates bought an operating system from a third guy for $50,000 that was basically a pirated copy of the other system IBM tried and failed to buy. Gates cleaned it up so it was workable and his empire began.

It always struck me as kind of funny. The guy that was so hard to work with must have been kicking himself for the last thirty years as he watched Gates become the richest man in the world.

It's a little like Billy Crystal quitting Saturday Night Live before the broadcast of the first show (he was in the original cast). Then he watched the show become a huge success while his career faltered.

Honeywell (a name from the pass) had the original patents(?)

[CJ7]

Originally Posted by gnadfly

You are being RickRolled. They have no intention of presenting facts.

Because it is Obama using the 4 billion figure in his class warfare/re-election speeches. Just like he used the 200 billion figure in Medicare fraud to justify in Obamacare. Just like he used the bad bridges that he couldn't identify to push his Infrastructure Bill. He's depending on the unquestioning media to shove his agenda down the throats of gullible Americans.

Its also the subject of the thread. Yep, you are an Obama backer. I'm tired of your flyover posts. Welcome to ignore.

pussy


talk about a deflecting flyover post ..

cya

[CuteOldGuy]

Does ANYONE know what the alleged subsidies are? I am adamantly opposed to corporate welfare of any kind, and would really like to know what kind of subsidies we're talking about.

[oglfp12]

Originally Posted by CuteOldGuy

Does ANYONE know what the alleged subsidies are? I am adamantly opposed to corporate welfare of any kind, and would really like to know what kind of subsidies we're talking about.

I thought the link that CJ7 provided in post #24 did a good job of answering this question. Since it's from the Texas comptroller, I think it is a pretty good source.

Click on it and read it:

http://www.window.state.tx.us/specia...dex.php#oilgas