I’m tired of hearing that we are, as individuals, to blame for the actions of industrial capitalists. It’s not like they cut us in on their obscene profits–which they earn from exploiting us as well as the planet.
An Unquenchable Thirst For Oil
Ted Rall
Ted Rall is a syndicated political cartoonist for Andrews McMeel Syndication, WhoWhatWhy.org and Counterpoint. He is a frequent contributor to The Wall Street Journal, a graphic novelist and author of many books of art and prose, and an occasional war correspondent. He is, recently, the author of the graphic novel "The Stringer."
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State and federal governments make more profit on a gallon of gas than the oil. companies. And by the way, you can get “cut-in”, it’s called the stock market.
Capital investments like oil field leases and drilling equipment are taxed at an effective rate of 9%, significantly lower than the overall rate of 25% for businesses in general and lower than virtually any other industry.
-CBO, 2005
US395, are you actually curious about any of this? I ask because I am beginning to resist the temptation to engage you for fear you are not really interested in having a conversation.
Don’t buy their products. No one is forcing you to.
Olegna,
Am I curious about why capital investments for oil field leases and drilling equipment have a lower tax rate than corporate taxes? I am not curious because I already know why. The government is trying to be in the business (pardon the pun) of picking winners and losers and of encouraging certain investments. That is not the role of the government.
I am all for a flat person tax and flat corporate tax. The lower the better.
Actually, capital investments in oil, mining, and other extractive industries are extremely risky. You are never sure until the project is done what you are going to get out of it.
It is not like building widgets or making websites.
What does this have to do with the relatively funny cartoon about baby boomers killing themselves?
I think people were posting about the cartoon currently on display, Aggie (the not really funny one with the Portuguese Manowar). Anyways, looks like Oleg disengaged from the conversation. Perhaps because he got an answer he wasn’t expecting.