On UPDATE: GM plant to close by 2010
Posted on June 3 at 7:05 p.m. ( Suggest removal )
gstrube,
HR 5234 was introduced on April 27, 2006. Why wasn't it reintroduced when the dems took over Congress? If you read the bill, and if you look at Congressman Larsons web site concerning the bill, you will see that it does indeed repeal tax breaks for exploration. So you are saying we shouldn't explore for more oil? Or are you saying we should just make it harder to get oil?
That is my point. Can you say $5 a gallon?
Congresspeople can name any bill anything they want. Calling something a subsidy does not make it a subsidy. When Obama & the dem Congress raise your taxes they could call it "The Feel Good Fair Tax Act of 2008". I guarantee you won't feel good about it.
On UPDATE: GM plant to close by 2010
Posted on June 3 at 6:17 p.m. ( Suggest removal )
Fattigman,
Corporations can't have sympathy any more than that computer you're looking at. Reports of profits can't be exaggerated or people go to jail (Enron). ExxonMobil made $40 billion dollars in a quarter, a lot of money. But they had earnings of $400 billion. 10% margin. Excessive? Executive compensation is another story, but what is the solution, government intervention? My plumber makes $40 an hour, I think that's too much & Doyle should cap that at $25/hr. When pristine Alaskan ice is drilled who knows where prices go, but it will reduce upward pressure.
It really is my money in my 401k, if I choose to invest it there. 60% of Americans also do the same.
On UPDATE: GM plant to close by 2010
Posted on June 3 at 12:37 p.m. ( Suggest removal )
gstrube,
The oil companies get tax subsidies? I think you mean tax breaks for exploration, mainly in the Gulf of Mexico. If there were less exploration the price of gas would be even higher than it is now. The reality is corporations don't pay taxes, people do. When a company is taxed that cost is passed on to the consumer. Where else would the money come from? There should be no corporate taxes, they are just hidden taxes on you, embedded in the price of whatever you are purchasing.
A profit of 7% (oil industry average) does not seem outrageous to me. Is it to you? Last year Chevron-Texaco reinvested ALL of it's profits. ExxonMobil paid more in Federal taxes than it made in American profit.
So how does the oil companies making profit cost American jobs? Please try to enlighten me again.
On UPDATE: GM plant to close by 2010
Posted on June 3 at 12:13 p.m. ( Suggest removal )
Yes it is the gas prices. Trucks take a lot of gas. When the price of gas is high trucks don't sell.
Drilling for oil in America does not just mean ANWR. It means off the east coast, the west coast, Florida (where China & Cuba are already drilling), the oil sands out west, the oil shale, everywhere. It is said drilling in ANWR won't help, but what would it hurt? If they started drilling up there 10 years ago, would that have helped?
As for who was in charge of Congress for 12 years, touche. I recall there was a democrat with veto (and briefly line-item veto) power in the Presidency for 6 of those years. No one is blameless. 2 years ago the dems came in saying they would lower gas prices, they had a plan. It was $2.50 a gallon then. Now they say we need a little more time. Well, time just ran out for Janesville.
So we don't have the refineries to process more oil. Maybe we should build some. In the mean time you must be willing to pay $10 or $12 a gallon or whatever Chavez & the Arabs want because we don't have enough oil or refineries.
When the economy suffers everyone suffers, and the poorer you are the more you suffer. And it has a domino effect.
I am for all energy ideas. Wind, solar, coal liquification, nuclear, hydro, thermo, anything else I forgot and drilling for gas & oil. Here & now. Time is running out very quickly; how many more Janesvilles will it take before we get moving?
On UPDATE: GM plant to close by 2010
Posted on June 3 at 10:07 a.m. ( Suggest removal )
$229 million in payroll last year. How do you begin to replace that? All of Wisconsin will feel the pain of this.
I blame the Democrats for not letting us drill for oil in America.
gstrube, would you please enlighten me on exactly which Bush economic policy had anything to do with this?
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On UPDATE: GM plant to close by 2010
Posted on June 3 at 7:15 p.m. ( Suggest removal )
deltafox5674,
The Supreme Court does not set energy policy. I repeat, no one is blameless concerning the oil situation. Partisan rhetoric? Or facts?
And thank you for your service.