chassroc
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Rocks are abundant when you have rocktumblinghobby pals
Member since January 2005
Posts: 3,586
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Post by chassroc on Mar 29, 2012 17:24:12 GMT -5
Today Senate Republicans voted to continue subsidizing Big Oil Companies. In a 51 -47 vote that mimicked party lines, the Senate rejected an attempt by Democrats to end subsidies to oil companies. Democrats argued that companies that made a profit of 141 Billion Dollars last year did not need a Government handout. Republicans disagreed.
charlie
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Don
Cave Dweller
He wants you too, Malachi.
Member since December 2009
Posts: 2,616
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Post by Don on Mar 29, 2012 18:01:11 GMT -5
I don't think anyone is surprised by this. Would the Democrats vote any different if it was funding for Planned Parenthood up on the chopping block? I don't think so. Both parties have their favorite pets. Both parties are taking us to the same place, one just gets us there faster...right now I'm not sure which one though...
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Post by jakesrocks on Mar 29, 2012 18:15:36 GMT -5
Dems want to stop subsidizing the oil co's. , but not one word about doing the same for the money loosing green energy firms. Guess what's good for the goose, ain't good for the gander.
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Sabre52
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Me and my gal, Rosie
Member since August 2005
Posts: 20,466
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Post by Sabre52 on Mar 29, 2012 18:55:29 GMT -5
Yep, not surprising but I would counter, would Dems pass budget limiting spending or pass a budget period *L*. And of course the wonderful Obamacare was passed on party lines. Nothing new in this story. We obviously have a country divided and I ain't particularly happy with either side....Mel
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Post by parfive on Mar 29, 2012 21:58:41 GMT -5
Oil & Gas industry - Lobbying 2011 - $148,377,552 2010 - $146,032,543 2009 - $175,454,820 2008 - $134,545,402
Oil & Gas industry - Political contributions 2012 election cycle - $20,552,365 to date 2010 election cycle - $31,912,949 2008 election cycle - $37,622,489
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Post by parfive on Mar 29, 2012 22:03:22 GMT -5
By employing a plethora of tax-dodging techniques, 30 multi-million dollar American corporations expended more money lobbying Congress than they paid in federal income taxes between 2008 and 2010, ultimately spending approximately $400,000 every day -- including weekends -- during that three-year period to lobby lawmakers and influence political elections.
Despite a growing federal deficit and the widespread economic instability that has swept the U.S since 2008, the companies in question managed to accumulate profits of $164 billion between 2008 and 2010, while receiving combined tax rebates totaling almost $11 billion. Moreover, Public Campaign reports these companies spent about $476 million during the same period to lobby the U.S. Congress, as well as another $22 million on federal campaigns, while in some instances laying off employees and increasing executive compensation.
Of the 30 companies analyzed in the report, which include corporate giants such as General Electric, Verizon Communications, Wells Fargo, Mattel and Boeing, 29 of them managed to pay no federal taxes from 2008 to 2010. Only FedEx, which raked in about $4.2 billion in profits during that period, paid a three-year tax rate of 1 percent -- totaling $37 million -- far less than the statutory federal corporate tax rate of 35 percent. Pretty much the same situation at the state level too. Now go chase after that friggin’ slob on food stamps.
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bushmanbilly
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Member since October 2008
Posts: 4,719
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Post by bushmanbilly on Mar 30, 2012 9:45:52 GMT -5
So your president wants to cut the subsidies to the oil companies. I don't have a problem with that. But to take that money and throw it out the window on more Solindra, volt and evergreen like projects. What is going through his head! How about applying it to the debt.
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Deleted
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Post by Deleted on Mar 30, 2012 10:52:53 GMT -5
Damn Billy are you brain dead? Or do you just ignore the facts? China killed Solandra? And if we do not come up with the technology now your children will be out of power in the 70 to 80 years that you stated we would be without oil. And if we use up all the oil where are all the plastics that make up everything we touch going to come from. Recycle? It has already been proven that people have to be forced to recycle and everyone outside of a metropolis that does not give a damn is still going to throw everything in the trash.
You really should start thinking about the future of your children and grand children. Or do you feel that it should be left up to them to solve their own problems? Jim
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Post by Rockoonz on Mar 30, 2012 12:09:50 GMT -5
Sorry, Jim but China was right there when Solyndra started up. China was there doing what it has always done to compete when they took federal money and spent most of it on executive salaries and political contributions. Lack of foresight and lack of a plan on how to be successful in an industry that only prospers from government subsidies is the problem, not China. A big problem with photovoltaic solar power is that the net power they produce in their effective life is about equal to the energy required to manufacture them. And the return on cost to the consumer without federal rebates is a pretty big loss on the investment. There are plenty of effective low tech uses of the sun that are largely ignored by industry and the government since it's all stuff we can do ourselves and doesn't lead to corporate prifits and political contributions.
Lee
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Deleted
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Post by Deleted on Mar 30, 2012 14:44:58 GMT -5
Lee - When it comes right down to it we are our own worst enemy. If the people here would quit buying the cheep stuff from China all of our manufacturers would be doing a lot better. I do not see how we put man in space since it was a government connected agency. Maybe it is because it was back in the good old days when the government could actually do something and there was no profit involved, just spending.
Maybe we should start a campaign to get the word out about the things we can do ourselves. I know a couple of things we can do but I am pretty much in the dark as are most people that do not read Popular Science or Popular Mechanics magazines.
There is a home builder in Bozeman Montana that built a house with only materials made in America and it was not a hell of a lot more expensive than any other house of the same size. And everything in the house was quality stuff because it was manufactured here.
I will agree that executive salaries are way out of line but Solandra's was probably no worse than with any other large company. Hell, some companies have given huge bonuses to execs that did not turn a profit. That is one that I will never figure out. Jim
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Post by geoff on Mar 30, 2012 17:05:03 GMT -5
I like rocks
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bushmanbilly
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Member since October 2008
Posts: 4,719
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Post by bushmanbilly on Mar 30, 2012 17:37:06 GMT -5
Jim I think your the one who's brain is on vacation. Must be a pull start. The facts are as lee stated with China. Who killed the Volt? The same people who payed for it. THE TAXPAYER. No one wanted that lemon. Lets put it this way. Its the bottom of the 7th, and your down 17 Trillion. You have 100 year supply of natural gas, 50+ of oil. But you want your kids and there kids to pay down the debt. Wow! your a nice father/ grampa.
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Deleted
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Post by Deleted on Mar 31, 2012 17:26:23 GMT -5
hahaha Did I get you fired up Billy? Seems kind of silly for someone without a voter registration card from the USA AND will not have to cough up a dime to pay back our debt to get so upset about what is going on here. Are you worried that our melt down is going to prevent us from buying your oil and put you out of a job? The oil patch always has down turns and all the rigs get stacked out no matter what goes on with the economy. You need to learn a trade that will let you move from one job market to another with no hassles. That is what I did a long time ago when the oil patch had a down turn. It might make you sleep better at night because you know it is coming.
Sounds like you are a company man now but you are still not safe. Unemployment climbs through the ranks Jim
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bushmanbilly
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Member since October 2008
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Post by bushmanbilly on Mar 31, 2012 19:35:30 GMT -5
You Jim, with the new rules some states have bought in. I could vote. I f a person does not have to show ID. I could do it. Just have to remember not to say"eh". Brush up on my spanish and its doable.
If you mean a company man, as in owning a company. I guess I am. Been in the patch for 33 years Jim. Being through the ups and downs. I know enough to save. My business is debt free to, so no problem sleeping.
It baffles me that your pres. wants to cut the big business subs. But has to spend the savings right away. The logical thing to do would be to apply it to the debt. Don't ya think!!
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Deleted
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Post by Deleted on Mar 31, 2012 23:57:27 GMT -5
hahaha You would probably not be the first canook to vote down here. I read a story a while back about Canadians collecting checks from the US IRS. They had to split it fifty fifty with an American scammer though.
You said something about meeting with a consultant or something like that so I figured you were not a motor man or derrick hand one way or another.
Glad to hear that you are sleeping good. Since my three exes have all my stuff (including money hahaha) the melt down is going to take me out real fast. So for me the worry is not how but when.
It does not matter who gets elected we are going to melt down because we are past the point of no return. I will bet that big oil's profits will drop substantially when people will not have a nickle to pay for gas that is six dollars a gallon and the subsidies are taken away because the govt has no money and no one is dumb enough to lend them any more. I don't think even Clinton could pull us out of this one that started a long time ago with both repubs and dems spending beyond our means. Miracles do not happen. And ya it should be used to pay down the debt but there are so many fires it is hard to figure out which one to put out first and there is no one in Washington that will listen to the people that have the answers. Ron Paul is pretty much out of the running and he is the only one that seems to know that we are at a crisis point.
eh Jim
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bushmanbilly
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Post by bushmanbilly on Apr 3, 2012 18:26:07 GMT -5
I agree with the melt down. Going to happen unless drastic measure are taken, And no politician will dare go there. No one will vote for a platform of cuts. If Ron Pauls middle east policies were not out to lunch, he would have had a shot. Its to late to go back to the gold standard. Just not enough gold in the world. It would push the spot price to unrealistic highs. To bad his son was not running. I think the only people that could pull it off would be either Billy or Herman. To bad the press beat the crap out of Herman with baseless antics. You folks need a business man or woman in the White house. Someone who knows how to manage money. And not worry if people are going to like it.
Just got home from 2days of driving and my rocks and kids are calling. Have not seen my new grand daughter foe 5 weeks. Time to go do some spoiling. Take care. My next post will be about rocks. I promise, really!!
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