New tax on "offshore" oil

[Melensdad]

Since when do companies pay tax?

Won't this just raise the price at the pump?

And since our government won't let oil companies drill onshore, and since this will just raise the price per gallon of what they drill offshore, won't this just increase our dependence upon foreign oil?

http://news.yahoo.com/s/ap/20100608...vajZzaTFyBHBvcwMxNQRzZWMDdG9wBHNsawNwcmludA--

Democrats propose further tax hike on offshore oil

1 hr 59 mins ago

WASHINGTON – Senate Democrats are moving to quintuple the tax that oil companies pay into an oil spill liability fund.

The move would raise $15 billion over the coming decade as Congress seeks to shore up the fund in the wake of the catastrophic spill in the Gulf of Mexico. But it's also being used to ease a tax hike passed by the House on investment fund managers.

The new legislation would raise the tax on oil produced offshore from 8 cents to 41 cents per barrel. That's nine cents higher than legislation that passed the House last month.

 

[bczoom]

"But it's also being used to ease a tax hike passed by the House on investment fund managers."

Damn, instead of it being for a spill liability fund, they're already planning on skimming off the top of this new tax.

 

[fogtender]

"But it's also being used to ease a tax hike passed by the House on investment fund managers."

Damn, instead of it being for a spill liability fund, they're already planning on skimming off the top of this new tax.

"Skimming" off the spill liability fund... that was a cute play on words...

 

[fogtender]

Since when do companies pay tax?

Won't this just raise the price at the pump?

And since our government won't let oil companies drill onshore, and since this will just raise the price per gallon of what they drill offshore, won't this just increase our dependence upon foreign oil?

http://news.yahoo.com/s/ap/20100608...vajZzaTFyBHBvcwMxNQRzZWMDdG9wBHNsawNwcmludA--
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Ever heard the Phase of "Hi! I am from the Government and here to help"

There is no "Fund", it all goes into one big pot and is spent elsewhere and when the real spill comes up, they have to "Budget" it into the spending.

These clowns are just trolling for money from every nook and cranny they can find. Look on you bills, they all have some kind of new "Tax" on them of some kind. Dollar here two dollars there, it add ups when three hundred million people get them... except of course the Illegals and lifetime wellfare Rats.

Nope, I am not bitter at all, just really waiting until November and can vote the A$$e$ out.

 

[waybomb]

NO companies pay taxes!!!!

The OWNERS (stock holders) and the CONSUMERS pay the taxes.

 

[tommu56]

NO companies pay taxes!!!!

The OWNERS (stock holders) and the CONSUMERS pay the taxes.

I totally agree hidden tax in the prices, consumption tax (sales tax only real fair tax and would save vast amounts on the IRS being disbanded or cut back)

tom

 

[JEV]

Ever heard the Phase of "Hi! I am from the Government and here to help"

Like this?

 

[loboloco]

Yep, much ignored fact. Businesses treat taxes as a cost of business and pass it on to the consumer in the form of higher prices.