Interesting, last night on TV self described Rep. conservative billionaire Donald Trump said its time to take away the subsidies to the big oil companies such as Exxon Mobil. They are making more money than any corporation in the history of the world and they don't need anny help according to Trump.
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Donald Trump
- Thread starter TSR
- Start date
Steve
Well-known member
I think Trump who has received millions in State money and cushy deals is like the pot calling the kettle black ..
I am generally not in favor of subsidies, unless we as a nation can see a greater overall benefit.. which is seldom the case..
it is easy to be general and say eliminate the subsidies for big oil.. but what are the subsidies?
first you should look at the subsidies.. what are the subsidies they get?
of the many I have researched over the years most of the "claimed" subsidies are just normal business deductions.
while some are old and no longer apply, many are normal business operating cost that any business can write off..
some were recently created, such as the tax credits for investments in green energy sources..
each is different and all are used by any major corporation..
but the most common and overwhelming majority stem from moving corporate headquarters off shore.
the fact is big oil is foreign oil and imported. the companies know we have to buy oil and they can be located anywhere in the world to sell it to US... so many have already moved..
I am generally not in favor of subsidies, unless we as a nation can see a greater overall benefit.. which is seldom the case..
it is easy to be general and say eliminate the subsidies for big oil.. but what are the subsidies?
first you should look at the subsidies.. what are the subsidies they get?
of the many I have researched over the years most of the "claimed" subsidies are just normal business deductions.
while some are old and no longer apply, many are normal business operating cost that any business can write off..
some were recently created, such as the tax credits for investments in green energy sources..
each is different and all are used by any major corporation..
but the most common and overwhelming majority stem from moving corporate headquarters off shore.
the fact is big oil is foreign oil and imported. the companies know we have to buy oil and they can be located anywhere in the world to sell it to US... so many have already moved..
Well, saying that most of our oil is imported is not telling us anything new. But for a conservative republican to speak specifically of oil subsidies and not mention the other gov't subsidies such as agricultural subsidies---is he lying or jealous that he's not getting some himself or what?? And if companies receive subsidies when moving overseas then I am for eliminating those.
Steve
Well-known member
TSR said:But for a conservative republican to speak specifically of oil subsidies and not mention the other gov't subsidies such as agricultural subsidies---is he lying or jealous that he's not getting some himself or what??
Note line one of my comment of my comment..
Trump who has received millions in State money and cushy deals is like the pot calling the kettle black ..
I am generally not in favor of subsidies, unless we as a nation can see a greater overall benefit.. which is seldom the case..
Steve
Well-known member
And if companies receive subsidies when moving overseas then I am for eliminating those.
I think you are missing the point, they move overseas to take advantage of more lucrative tax structures..
and while some call it a subsidy, we can't tax foreign companies in foreign countries.. :?