Quote Originally Posted by peggy View Post
Oh you're absolutely right. Things will go up, but not necessarily because the poor companies can hardly get by without the tax payers subsidies. Again taking the big oil companies. Their profits are obscene, and they could very well take a bit of a cut. But, you are right in that they won't because greed rules! It's not the cost of production that will raise our prices but pure, nasty greed!

But, everything else will go up too, but what is the answer? I mean, everyone keeps saying we need to trim the budget, and can't possibly ask anyone to pay a dime more in taxes. Why, the republicans would have taxes cut even more! But, stuff costs. Our lifestyle costs. (and by lifestyle I mean good roads/schools, clean water, etc...) All those things that we expect of living in America costs.

Where does it come from? If not eliminating subsidies, or raising taxes, or cutting from the military which the republicans deplore, then where? Where is it coming from? roads? Bridges? Our infrastructure is already so outdated I'm surprised only one major bridge has collapsed in the last 10 years. Maybe we don't need so many water and food inspections? Well, maybe not...until some people get sick, or die even from tainted water or food. Schools? Is there anything left to squeeze out of the schools?
Of course there is always grandma. But her rent isn't going down, nor is her food budget/utilities. And dang it all, she needs to eat..every day!

So, pay more for food/gas/stuff...or pay more in taxes to keep the subsidies (payoffs) rolling. Gee, if people (and by people I mean the big industries we pay 'protection' money to) would just be satisfied with modest profits. Even good profits would be fine. But obscene profits at the America public's expense is disgusting.
I guess I'm just sick and tired of paying my tax dollars to some greedy fat cat just for the 'privilege' of being gouged at the pump.
Are roads and bridges paid for from income taxes or are they financed through gas taxes (state and federal), and use fees (commercial transportation/hauling)?

Also, what constitutes an "obscene" profit? Is it an established threshold for profit as a percentage of revenue? Are other industries besides energy, such as sports, entertainment, high tech, etc., subject to the "obscene profits" label?

When you talk about "subsidies (payoffs)", are you talking about standard business deductions such as accelerated depreciation which is applicable to all industries or is it only a payoff if it's granted to specific industries?

I can certainly understand the frustration you feel at being "gouged at the pump", but have you considered what percentage of that "gouging" is the result of state & federal taxation and the costs of environmental regulation? How much more would you be "gouged" if energy companies were excluded from enjoying the same deductions other industries enjoy?

I guess what I'm asking is, from a taxation perspective, do you feel that the government should use the tax code to encourage or discourage specific things that benefit society, and if so, how do you choose?