Breaking: WH will sue Arizona over SB1070

posted at 2:05 pm on June 18, 2010 by Ed Morrissey

CBS News reports that a “senior administration official” has confirmed to them that Hillary Clinton was telling the truth in the interview with an Ecuadorian media outlet.  The Obama administration will file a lawsuit in federal court to block Arizona’s new law requiring law-enforcement personnel to check immigration status while processing suspicious people already in custody:

It was unclear yesterday whether Clinton’s comments were simply a prediction or mistake or whether instead she was getting ahead of a planned announcement by the administration.

Now a senior administration official tells CBS News that the federal government will indeed formally challenge the law when Justice Department lawyers are finished building the case. The official said Justice is still working on building the case.

Wow … just wow.  What a tremendously incompetent manner in which to announce the decision.  The Obama administration informed the Ecuadorian people of this decision before the White House informed Americans.  I’m not sure if that’s Hope and Change, the New Transparency, or Smart Power.

Governor Jan Brewer blasted Obama and his administration for their handling of this policy direction.  I agree, but perhaps she can take comfort in it.  After all, an administration this inept is unlikely to successfully walk and chew gum at the same time, let alone challenge the validity of their new immigration-enforcement law.  Meanwhile, Obama will continue to pursue a policy that is even less popular than his ObamaCare bill, just in time for the midterm referendum on his first two years in office.

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Over here in the USA, some of us still don’t mind paying for the good roads and security we get from our government.

Good roads? Good Lord. Reason #47 that the Dems’ Great Latin Hope, Los Angeles Mayor Tony Villaragosia (aka Tony Villar), the clown who was presiding at the convention when the Dems voted God out of their platform, will never make it to the nationals.

Good thing Hillary is more popular that Obama these days. Now that she’s left his Administration.

de rigueur on May 18, 2013 at 9:42 PM

BeachBum on May 18, 2013 at 9:38 PM

I prefer not getting close to the ban hammer…
So..think college in GA-..a NAACP endorsed one.
I can’t say anyMORE. ;)
We had a little spill here a while ago..
That is all.

bazil9 on May 18, 2013 at 9:42 PM

Good evening good folks!!

HAL doesn’t know how to stop LYING and obfuscating…

Just ignore HAL…

Not really worth the time.

HAL never answers anyway…

Let HAL GO!!

Scrumpy on May 18, 2013 at 9:42 PM

ohhh…my 2nd bishop..ever
2 nights in a row.
I feel like axe meeting So with a square fish fillet.

bazil9 on May 18, 2013 at 9:43 PM

Just quit.
CW on May 18, 2013 at 9:39 PM

What part of FAIR SHARE don’t you understand?

HotAirLib on May 18, 2013 at 9:43 PM

Unfortunately, the problem we have with conservatives is that they are quick to excuse the so called “job creator” from paying their fair portion of taxes. Ironically, these same cons dont mind driving on the good roads they refuse to pay for though.

HotAirLib on May 18, 2013 at 9:34 PM

Wow!! Conservatives have found a way to not pay the gas taxes which fund the highways? Tell me more.

You are one fvcking stupid POS. They pay you to spew this idiotic drivel? LOL. But, I guess you are on par with the third world retarded Sukarno knock-off you idiots worship. That’s one advantage of having an idol with an 84 IQ, I guess.

I really wish you would take the advice of your own lunatic greenies as regards your useless existence. You do nothing but raise entropy.

Hotair really should ban you. already. You are a total pain-in-the-azz. I guess they like you as a pet … like a sad dog that constantly sh!ts in the living room. You just don’t know any better.

ThePrimordialOrderedPair on May 18, 2013 at 9:44 PM

via Conservatives on Fire.

Domestic manufacturing tax deduction — $1.7 B. This is a tax deduction given to every manufacturer in the US. Per CNN, it was “designed to keep factories in the United States.” If that deduction were eliminated for oil companies only, it would mean singling out oil companies from all other manufacturers.

Percentage depletion allowance — $1 B. Any industry can write down a portion of the cost of its capital equipment as part of the cost of doing business. Right now, oil in the ground is treated as capital equipment. Again, this “subsidy” amounts to how the cost of doing business is defined. All companies get it, not just oil companies.

Foreign tax credit — $850 million. Companies get credit for taxes they pay to other countries. All companies get this “subsidy,” not just oil companies. Should a company pay tax on tax? Should only oil companies pay tax on tax?

Intangible drilling costs — $780 million. According to CNN, “[a]ll industries get to write off the costs of doing business, but they must take it over the life of an investment. The oil industry gets to take the drilling credit in the first year.” Among these four tax “breaks,” this smallest one was the only one that treated oil companies differently.

Let’s be very clear about what is happening in the debate over oil company subsidies. As I have already noted, they are not actually subsidies, but tax breaks that all companies are allowed to take, to a certain degree. One may argue that the tax breaks should be on the table when discussing budget cuts, etc., but one can not make a successful argument that they should be removed only for the oil companies. That argument simply does not exist and to pretend it does is nothing more than a case of political opportunism, pure and unadulterated, and the Republicans in Congress are allowing it to happen, with nary a word.

LDJACKSON

HAL I understand using your buzzwords and talking points makes you think you seem soo righteous and intelligent but the facts don’t back you up.

CW on May 18, 2013 at 9:44 PM

Yes I do. No biz owner with a brain starts a company simply to create jobs. They start companies to benefit themselves and their shareholders. Hiring is a necessary evil.

HotAirLib on May 18, 2013 at 9:41 PM

There you go folks..

Economics 101 on full display..

And you thought getting a government loan and going to College would get you a better education..

Electrongod on May 18, 2013 at 9:44 PM

The debate in the Maher clip is badly misinformed.

Now, I don’t know anything about audits of the NAACP, and I don’t know anything about its non-profit structure. I’m confident that it has an entity that’s a 501(c)(3) public charity that’s tax-exempt and to which donors can make deductible contributions for federal income tax purposes. I suspect that it may also have a related entity that’s used for political advocacy and that’s tax-exempt but to which donors cannot make deductible contributions.

Regarding black churches that were audited, churches are 501(c)(3) organizations. Period. They don’t have related political entities. And their problem has been that citizens have complained that their ministers have blown through the boundaries and actively advocated specific candidates from the pulpit. As I recall, during the Bush administration, the IRS looked into this, learned that some pastors had gone out of bounds, and it ultimately issued some guidance in the form of a revenue ruling that contained several hypothetical situations in which it tried to describe what’s okay in the political realm to discuss from the pulpit (issues) and what’s not okay to discuss (specific candidates).

That scrutiny hardly compares to the initial-level scrutiny of these conservative organizations in the application process.

In the end, we need a tea-party style revolt in which we toss the IRS pocket protects into the nearest body of water, and we need Jay Sekulow to bring a RICO action against the Obama administration.

BuckeyeSam on May 18, 2013 at 9:45 PM

Damn refresh!
Booooooooooooooooo

Howdy, ya bloody cool chica.
(Britspanglish)

Amen..ignore the tic. It’s getting full off your
words…slurp/suck.

bazil9 on May 18, 2013 at 9:45 PM

What part of FAIR SHARE don’t you understand?

HotAirLib on May 18, 2013 at 9:43 PM

What is FAIR SHARE?

Take all their money under the mattress?

Electrongod on May 18, 2013 at 9:45 PM

VegasRick
I think you are right.These guys were pros.
I’m wondering if whomever sent that drone out would also know if it was indeed armed or not.If it was not armed: Why the heck not!! I’m not buying we did not want to upset the new Benghazi regime. Not when our guys lives were at risk! There has to be someone who knew the status or the drone and why it was or was not armed.
This still does not absolve the regime from not sending the ready force in F16′s from Italy. The entire thing was botched, good men died and those who tried to help were severely criticized or demoted.

rodguy911 on May 18, 2013 at 9:46 PM

No biz owner with a brain starts a company simply to create jobs. They start companies to benefit themselves and their shareholders. Hiring is a necessary evil.

HotAirLib on May 18, 2013 at 9:41 PM

So why don’t you start a company to create jobs. No profit, just jobs .

burrata on May 18, 2013 at 9:46 PM

What part of FAIR SHARE don’t you understand?

HotAirLib on May 18, 2013 at 9:43 PM

YOU don’t even know what it means. Buzzword nimrod.
Seriously you are the dimmest poster at HA. You can pick up your trophy on the way out.

CW on May 18, 2013 at 9:47 PM

Good evening good folks!!

Scrumpy on May 18, 2013 at 9:42 PM

What about me?

SparkPlug on May 18, 2013 at 9:47 PM

B9 prolly went surfing and got sand in her suit.

SparkPlug on May 18, 2013 at 9:48 PM

What part of FAIR SHARE don’t you understand?

HotAirLib on May 18, 2013 at 9:43 PM
What is FAIR SHARE?

Take all their money under the mattress?

Electrongod on May 18, 2013 at 9:45 PM

He will never define Fair Share as it will put him under the gun to explain why Warren Buffet companies haven’t paid the 1.5 Billion dollars they owe in back taxes.

RickB on May 18, 2013 at 9:48 PM

Good evening Chuck Norris Square Pants.

bazil9 on May 18, 2013 at 9:48 PM

bazil9 on May 18, 2013 at 9:42 PM

Gotcha…I did read something about east Georgia but had no reference point.

BeachBum on May 18, 2013 at 9:49 PM

What part of FAIR SHARE don’t you understand?

HotAirLib on May 18, 2013 at 9:43 PM

Probably the part where lardass Moochelle demands endless free lobster and vaycays whilst lecturing America about being “fat” and personal sacrifice.

viking01 on May 18, 2013 at 9:49 PM

B9 prolly went surfing and got sand in her suit.

SparkPlug on May 18, 2013 at 9:48 PM

No..waves were crap.
Did get sand everywhere + the suit. ;)

bazil9 on May 18, 2013 at 9:49 PM

bazil9 on May 18, 2013 at 9:45 PM

Burritos make great pets. Ya put a leash on them and drag them around. They don’t bark.

SparkPlug on May 18, 2013 at 9:50 PM

BeachBum on May 18, 2013 at 9:49 PM

Do you know now or need MORE info? ;)

bazil9 on May 18, 2013 at 9:50 PM

What part of FAIR SHARE don’t you understand?

HotAirLib on May 18, 2013 at 9:43 PM

Why don’t YOU explain ????

burrata on May 18, 2013 at 9:50 PM

A civil “civil service” requires small government.

No, it requires limited government. In those loopholes, there is liberty, baby. This flat tax post is poop.

AshleyTKing on May 18, 2013 at 9:51 PM

Yes I do. No biz owner with a brain starts a company simply to create jobs. They start companies to benefit themselves and their shareholders. Hiring is a necessary evil.

HotAirLib on May 18, 2013 at 9:41 PM

Evil? I believe that would be a blessing to both the company and the employee but I don’t have quite the business savvy that a welfare whore such as yourself has acquired.

VegasRick on May 18, 2013 at 9:51 PM

Define,fair sharing.
Wat do section 8 hell holes share?
Oh yeah..crime,drugs, and baby daddies.

bazil9 on May 18, 2013 at 9:51 PM

bazil9 on May 18, 2013 at 9:45 PM

Wish I could have been where you were! Got me cigs n a drink tho :-D

Scrumpy on May 18, 2013 at 9:52 PM

bazil9 on May 18, 2013 at 9:49 PM

Rinse well. Otherwise things can be a bit abrasive on your tender parts.

SparkPlug on May 18, 2013 at 9:52 PM

So why don’t you start a company to create jobs. No profit, just jobs .
burrata on May 18, 2013 at 9:46 PM

Never said I had a problem with business owners who choose not to hire. I would try my best not to hire any worker if I owned my own business too.

That said, STOP defending these “job creators” from paying their fair share of taxes. All in the name of “the more money they get to keep, the more jobs they will create”. Common sense disagrees with you.

HotAirLib on May 18, 2013 at 9:52 PM

SparkPlug on May 18, 2013 at 9:47 PM

Good evening good peep Sparky!! ;)

Scrumpy on May 18, 2013 at 9:52 PM

HAL :

U.S. energy companies, specifically those in the oil business, are eligible for the same tax treatment as other U.S. industries. To understand this, it’s important to take a close look at the words being used.

Read more: http://www.washingtontimes.com/news/2011/dec/7/debunking-the-big-oil-subsidy-myth/#ixzz2ThPwQ2Dy
Follow us: @washtimes on Twitter

Think buddy. Jeebus Cripes.

CW on May 18, 2013 at 9:52 PM

Please God, let the truth come out.

VegasRick on May 18, 2013 at 9:37 PM

It always does. The problem is, His timing is not always our timing.

I will trust in His timing nonetheless.

If we stick around long enough, it should be a very impressive show.

katy on May 18, 2013 at 9:53 PM

HAL:

Yes trying THINKING

In fact, one overview from Forbes.com pegged the overall effective tax rates of the Big Three oil and gas firms at 41.5% to 48.3%, depending on the company.
These rates were the highest among the 25 top taxpaying companies (in terms of dollar amounts) that Forbes surveyed.

Read More At Investor’s Business Daily: http://news.investors.com/ibd-editorials-perspective/050813-655311-oil-and-gas-business-tax-rates-are-among-the-highest-of-any-industry.htm#ixzz2ThQFEAaK
Follow us: @IBDinvestors on Twitter | InvestorsBusinessDaily on Facebook

CW on May 18, 2013 at 9:53 PM

Scrumpy on May 18, 2013 at 9:52 PM

Bad peep Sparky is here to do tricks on people.

SparkPlug on May 18, 2013 at 9:53 PM

We are pilgrims in an unholy land right now

Conservative4ev on May 18, 2013 at 9:53 PM

HAL you’re a LIAR.

CW on May 18, 2013 at 9:53 PM

Former Democratic Congressman Martin Frost:

“I’m a supporter of the President’s. I’m concerned that he’s going to lose credibility on this oil and gas issue because HE’S NOT TELLING THE TRUTH entirely. What he is saying is that you need to eliminate four billion dollars worth of tax breaks for major oil companies because major oil companies have obscene profits.

THE PROBLEM WITH THIS IS THAT ONE OF THE BIG TAX BREAKS HE’S CITING – INTANGIBLE DRILLING COSTS – EXCUSE ME – PERCENTAGE DEPLETION – WAS REPEALED BY CONGRESS, EXCUSE ME, IN 1975, 36 YEARS AGO, AS IT AFFECTS MAJOR OIL COMPANIES.”

The only ones that get percentage depletion anymore are domestic independents who drill most of the wells in the United States and employ four million people.”

Democrat Congressman Dan Boren explained and agreed with Frost that Mr. Obama needs to get his facts straight while pointing out that the Obama energy solution would hike the cost of oil production, hike foreign oil dependency, hike the burden on smaller, independent energy producers, and leave Big Oil – among them Exxon, Shell, BP, Phillips and Conoco untouched:

“Specifically, the Administration is seeking to repeal the “percentage depletion” and “intangible drilling costs (IDCs)” tax incentives.

The removal of these provisions would negatively affect domestic independents who utilize them to attract the capital necessary to drill new oil and gas wells inside the United States.

It is estimated that eliminating percentage depletion and IDCs for domestic independents would reduce U.S. drilling by 30-40 percent, thereby increasing the nation’s dependence energy from foreign sources.

About Mr. Obama’s “percentage depletion” solution:

Furthermore, the major oil companies are barred by law from receiving percentage depletion altogether, as it only is given to domestic independent producers.

About Mr. Obama’s “intangible drilling costs” solution:

‘The IDC preference is only available for domestic drilling activity, and as the major oil companies drill primarily outside the U.S., the domestic independent sector of the industry will yet again bear the brunt of losing this critical provision.”

Resist We Much on May 18, 2013 at 9:53 PM

Yay!
Another cool Fl
HA poster chick. Welcome beach bum!
We got the #’s going on.
TX has the men…oh and Coz.

bazil9 on May 18, 2013 at 9:54 PM

By the way, no one and I mean no one who works hard and pay taxes enjoys seeing lazy people take advantage of our welfare system.

Unfortunately, the problem we have with conservatives is that they are quick to excuse the so called “job creator” from paying their fair portion of taxes. Ironically, these same cons dont mind driving on the good roads they refuse to pay for though.

Then they b!tch and moan about wasteful spending. How the heck do you have any credibility with cutting unnecessary spending when you all cherry pick what your definition of unnecessary spending is.

HotAirLib on May 18, 2013 at 9:34 PM

I bet that you’ve never taken a course in the taxation of pass-through entities and you’ve never prepared a tax return for either a limited liability company (U.S. Form 1065) or an S corporation (U.S. Form 1120S).

BuckeyeSam on May 18, 2013 at 9:55 PM

No..waves were crap.
Did get sand everywhere + the suit. ;)

bazil9 on May 18, 2013 at 9:49 PM

Confucius say, “Woman who drink beer on beach, get sand in Schlitz.”

TXUS on May 18, 2013 at 9:55 PM

Think buddy. Jeebus Cripes.
CW on May 18, 2013 at 9:52 PM

If you believe the big oil companies are paying the same effective tax rate as the working man, then you are a lost cause.

HotAirLib on May 18, 2013 at 9:55 PM

But you are quick to subsidize the big oil and big defense companies by paying their portion of taxes correct? Until I hear a good argument as to why you would rather pay their portion of taxes while crying a river over the measly ebt benefits the unfortunate are getting, I will never take you folks seriously.

HotAirLib on May 18, 2013 at 9:24 PM

What are you talking about?
First, it is the stock holders that ultimately pay the taxes out of their dividends and stock value. The corporate tax is just an indirect tax on them. It is an extra, unnecessary drain on productivity.
Second, how are those companies not paying their taxes?
Third, the government forced transfers of wealth from the productive to the unproductive are instrumental in keeping them unproductive. Calling them “unfortunate” only obscures the issue.
Forth, even if you wanted to have some level of government transferring wealth from the productive to the unproductive, the federal government is the worst place to do it — as can be seen by the way that those wealth transfers are now fully responsible for out runaway national debit.
You are the one that really can’t be taken seriously, here.

Count to 10 on May 18, 2013 at 9:55 PM

Every time a lib says Fair Share I have to laugh. I don’t care what age they are, anyone who believes there is such a thing as Fair Share has no life experience Whatsoever. Life is not fair and there is no guarantee that you are going to be treated “fairly”. Who decides what is fair? Fair compared to what? You can go through life and think you have done your best and yet you won’t get the outcome you think you deserve. Life is NOT fair and no amount of government intervention will make it fair. Grow up.

BeachBum on May 18, 2013 at 9:55 PM

Evil? I believe that would be a blessing to both the company and the employee but I don’t have quite the business savvy that a welfare whore such as yourself has acquired.

VegasRick on May 18, 2013 at 9:51 PM

Don’t be too tough on the idiot. HAL just doesn’t understand what the phrase “necessary evil” means. He works phonetically, for the most part – just like Barky … “OH’-ree-ahn!” … “Corpseman!!” …

Yeah, HAL now thinks that “on the precipice” carries a good connotation, just like his 84 IQ Indonesian Idol. It’s a shame these lefty morons are so dangerous and destructive. Otherwise, they’d be great fun to watch … like demented ants running wild in an antfarm.

ThePrimordialOrderedPair on May 18, 2013 at 9:56 PM

Michael Moore: “No one was punished, they were just silenced.”

AshleyTKing on May 18, 2013 at 9:56 PM

Michael Moore video? Puke!

KCB on May 18, 2013 at 9:57 PM

Unfortunately, the problem we have with conservatives is that they are quick to excuse the so called “job creator” from paying their fair portion of taxes. Ironically, these same cons dont mind driving on the good roads they refuse to pay for though.

HotAirLib on May 18, 2013 at 9:34 PM

Yeah, the class war is over and we won. You should have gotten the memo.

Punchenko on May 18, 2013 at 9:57 PM

What part of FAIR SHARE don’t you understand?

HotAirLib on May 18, 2013 at 9:43 PM

Fvck you and your so-called ‘fairness’!

‘Anyway, I will be more than happy and proud of Obama if he was behind the IRS targeting these anti USA “conservative” groups. They all need to be investigated.’

- HotAirLib on May 14, 2013 at 6:32 PM

‘You must really think I give a f@$k. As long as Obama is doing all he can to investigate and rid America off these anti USA tea party groups, I am fine.’

- HotAirLib on May 14, 2013 at 7:23 PM

Your whole ‘I love America and civil liberties and only demand ‘fairness and a level playing field’ schtick is a bunch of crap.

You don’t care about any of them. You only care about stealing that which doesn’t belong to you and punishing your enemies. You have no use for the rule of law or the right to equal protection for all citizens under it.

Fvck off, weak and whiny little boy.

Resist We Much on May 18, 2013 at 9:57 PM

Michael Moore: “No one was punished, they were just silenced.”

Good, little, fascist b@stard.

Resist We Much on May 18, 2013 at 9:58 PM

Wish I could have been where you were! Got me cigs n a drink tho :-D

Scrumpy on May 18, 2013 at 9:52 PM

Move on down. :)
We can share cigs and carpool to the Dr,throw darts at Barry and pelosi’s pic on my dart board.. lol

SparkPlug on May 18, 2013 at 9:52 PM

Good tip. :)
I am clean as a whistle.
My nephew is responsible for most of it.
He was throwing it at me and we jumped in
a hole we dug.

bazil9 on May 18, 2013 at 9:58 PM

Yay!
Another cool Fl
HA poster chick. Welcome beach bum!
We got the #’s going on.
TX has the men…oh and Coz.

bazil9 on May 18, 2013 at 9:54 PM

Just diving in. Hi Gorgeous! Who is this beach bum and will I like her?

KCB on May 18, 2013 at 9:59 PM

Count to 10 on May 18, 2013 at 9:55 PM

Interesting. So the billionaires who pay a 15% or sometimes lower effective tax rate; while you probably pay something close to 30% don’t bother you? Typically right winger.

HotAirLib on May 18, 2013 at 9:59 PM

If you believe the big oil companies are paying the same effective tax rate as the working man, then you are a lost cause.

HotAirLib on May 18, 2013 at 9:55 PM

They may not be but they do keep bums like you off the streets..

Electrongod on May 18, 2013 at 9:59 PM

CW on May 18, 2013 at 9:52 PM

That right there is a major issue they do not think thru what they read.

Last evening I read an article, and I switched the last para with one of the first, and the whole artilce took on a whole new meaning.

The point of the liberal press is to first get you to think about what they want and need you to see as their point, and the real truth lays at the bottom, but by the time one gets to the truth, it matters not to a liberal, since the article made it’s mind up for it.

By the time it get to that last para, it see that as a lie…

Even though it is the glaring truth…

Reading and sorting takes time.

HAL has not got what it takes to ‘disect’ an article and discern the truth.

Scrumpy on May 18, 2013 at 9:59 PM

There is such a thing as national morale. Ours could use a boost.

I know what would boost mine. A massive lightning strike in just the right place.

VorDaj on May 18, 2013 at 10:00 PM

Confucius say, “Woman who drink beer on beach, get sand in Schlitz.”

TXUS on May 18, 2013 at 9:55 PM

lol…

Thx SP..my head is always in the gutter now.

bazil9 on May 18, 2013 at 10:01 PM

HAL you tard I will try again.

Copied from my previous post:

HAL:

Yes trying THINKING

In fact, one overview from Forbes.com pegged the overall effective tax rates of the Big Three oil and gas firms at 41.5% to 48.3%, depending on the company.
These rates were the highest among the 25 top taxpaying companies (in terms of dollar amounts) that Forbes surveyed.

Read More At Investor’s Business Daily: http:/

So yes they do.

CW on May 18, 2013 at 10:02 PM

bazil9 on May 18, 2013 at 9:58 PM

I like a good game of darts!! ;) BRT!! Lol…

Scrumpy on May 18, 2013 at 10:02 PM

Resist We Much on May 18, 2013 at 9:57 PM

I see our elephant and castle “independent libertarian” is losing it. Take it easy sweet cakes. Don’t take life to seriously.

HotAirLib on May 18, 2013 at 10:02 PM

Just diving in. Hi Gorgeous! Who is this beach bum and will I like her?

KCB on May 18, 2013 at 9:59 PM

~~~~~splash~~~~~~~
Howdy handsome.
I don’t know..but I dig her so far. :)

bazil9 on May 18, 2013 at 10:02 PM

HAL has not got what it takes to ‘disect’ an article and discern the truth.

Scrumpy on May 18, 2013 at 9:59 PM

Talking points are easier for the dumb with an agenda.

CW on May 18, 2013 at 10:02 PM

@b9 — What are you typing on? Just curious, the way your comments format.

Axe on May 18, 2013 at 10:03 PM

Hi Axe. You doin’ ok today?

KCB on May 18, 2013 at 10:04 PM

With great power comes great responsibility. The greater Mr. Obama’s power, the less responsible he becomes.

Like a rabid dog.

VorDaj on May 18, 2013 at 10:04 PM

TITLE I SEC. 104. LIMITATION ON PERCENTAGE DEPLETION ALLOWANCE FOR OIL AND GAS WELLS.

(a) In General- Section 613A of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:

`(f) Application With Respect to Major Integrated Oil Companies- In the case of any taxable year in which the taxpayer is a MAJOR INTEGRATED OIL COMPANY (as defined in section 167(h)(5)(B)), the allowance for percentage depletion SHALL BE ZERO.’

Also, they do not get tax credits. The oil and gas industry gets the same cost of doing business deductions as do any business.

If anything, major oil companies are not treated equally. They are FORBIDDEN many of the hydrocarbon deductions that other independents and wildcat operators are permitted to take.

Resist We Much on May 18, 2013 at 10:05 PM

Interesting. So the billionaires who pay a 15% or sometimes lower effective tax rate; while you probably pay something close to 30% don’t bother you? Typically right winger.

HotAirLib on May 18, 2013 at 9:59 PM

I earn decently above the median income, and my federal taxes are less than 10% of my income. But that’s kind of irrelevant when you consider that those “billionaires” pay hundreds or thousands of times what I pay in taxes. Why should I care what fraction of their income that is?

Count to 10 on May 18, 2013 at 10:05 PM

bazil9 on May 18, 2013 at 9:50 PM

I get the drift ;) … personally I think that some of these trolls are not paid by Soros but by HA. If you notice, the threads where they dump have alot more comments than others…ie…this mornings inconsequential thread about a burglary that ended up with over 200 comments because nobrain showed up and made 3 comments and then left. The comments went on for hours even though the little idiot was long gone.

BeachBum on May 18, 2013 at 10:05 PM

@b9 — What are you typing on? Just curious, the way your comments format.

Axe on May 18, 2013 at 10:03 PM

Looks to me like a carriage return (Enter key press) after each sentence.

viking01 on May 18, 2013 at 10:05 PM

KCB on May 18, 2013 at 10:04 PM

Hiya Ken!!

Scrumpy on May 18, 2013 at 10:05 PM

I see our elephant and castle “independent libertarian” is losing it. Take it easy sweet cakes. Don’t take life to seriously.

HotAirLib on May 18, 2013 at 10:02 PM

You see nothing. On the other hand, we send your fascistic leanings.

Resist We Much on May 18, 2013 at 10:06 PM

@b9 — What are you typing on? Just curious, the way your comments format.

Axe on May 18, 2013 at 10:03 PM

My meds or PC? lol

Newer HP laptop. Looks normal on my side of the window.

bazil9 on May 18, 2013 at 10:06 PM

Obama is a cancer on the nation. He is a cancer on all mankind.

VorDaj on May 18, 2013 at 10:06 PM

. Don’t take life to seriously.

HotAirLib on May 18, 2013 at 10:02 PM

In other words, HAL just got fυcking burned.

RWM comes through again.

CW on May 18, 2013 at 10:06 PM

Yes I do. No biz owner with a brain starts a company simply to create jobs. They start companies to benefit themselves and their shareholders. Hiring is a necessary evil.

HotAirLib on May 18, 2013 at 9:41 PM

This is one of the stupidest posts of all time on HA….seriously. HAL appears to believe that unicorn dollars will fall into the owner/shareholders hands once they incorporate…or something?

how bizarre. This is why leftists get so agitated about business..they have no clue what it is. Pencils magically appear from the unicorn tree, and those SOBs collect them all, steal them from the People..and get rich off the unicorn tree.

i remember that dreadful BP commercial with the leftist woman (or actress) saying…well, if you have to drill for oil…then do it carefully…BP said Yes sir, sir…as the b!tch drives away in her car. (i know this was an advert, and not real, but it is real…focus group tested for eco-freaks and their fellow travelers)

r keller on May 18, 2013 at 10:06 PM

Hiya Ken!!

Scrumpy on May 18, 2013 at 10:05 PM

Hi Chrissy, Glad you brought the two piece ;-) Jump in!

KCB on May 18, 2013 at 10:07 PM

BeachBum on May 18, 2013 at 9:55 PM

If you don’t believe life should be fair, why are your house GOP shills holding those kangaroo trials just because the IRS targeted some conservative hacks?

HotAirLib on May 18, 2013 at 10:07 PM

fυcking

This is allowed now?????????????????????????????

Scrumpy on May 18, 2013 at 10:07 PM

Hi Axe. You doin’ ok today?

KCB on May 18, 2013 at 10:04 PM

operating with the lowest profile possible, atm. :)

Axe on May 18, 2013 at 10:07 PM

Why should I care what fraction of their income that is?

Count to 10 on May 18, 2013 at 10:05 PM

HAL is especially good at fractions..

Electrongod on May 18, 2013 at 10:07 PM

Looks to me like a carriage return (Enter key press) after each sentence.

viking01 on May 18, 2013 at 10:05 PM

Yep, that’s my style.
I couldn’t have a sock if I wanted one. :)

bazil9 on May 18, 2013 at 10:08 PM

*yeah, I’m good. :) u?

Axe on May 18, 2013 at 10:08 PM

Obama is a cancer on the nation. He is a cancer on all mankind.

VorDaj on May 18, 2013 at 10:06 PM

A cancer cell has a higher IQ than Barky.

ThePrimordialOrderedPair on May 18, 2013 at 10:08 PM

This is allowed now?????????????????????????????

Scrumpy on May 18, 2013 at 10:07 PM

Well, shit yeah!

Axe on May 18, 2013 at 10:08 PM

@b9 — What are you typing on? Just curious, the way your comments format.

Axe on May 18, 2013 at 10:03 PM

I’m guessing she has a cat sitting nearby that swats the enter key with great frequency.

tom daschle concerned on May 18, 2013 at 10:08 PM

HAL is especially good at fractions..

Electrongod on May 18, 2013 at 10:07 PM

And “profit AND earnings ratios!!”

And how to “reduce premiums by 3000%!!”

ThePrimordialOrderedPair on May 18, 2013 at 10:09 PM

If anything, major oil companies are not treated equally. They are FORBIDDEN many of the hydrocarbon deductions that other independents and wildcat operators are permitted to take.

Resist We Much on May 18, 2013 at 10:05 PM

i’m glad you posted that. I thought i heard that a long time ago, so with the HAL troll said big oil that was the tell that the troll is just recycling old Alan Colmes and Thom Hartmann talking points.

sad really

r keller on May 18, 2013 at 10:09 PM

Cool!! No more Ms Nice Gal!!! (insert evil giggle) O_0

Scrumpy on May 18, 2013 at 10:09 PM

If you don’t believe life should be fair, why are your house GOP shills holding those kangaroo trials just because the IRS targeted some conservative hacks?

HotAirLib on May 18, 2013 at 10:07 PM

Life may not be fair idiot…
But tax payer government should not dictate winner and losers..

Electrongod on May 18, 2013 at 10:09 PM

Sophie, are you gonna beat the crap out of HAL tonight? I like to know in advance.

KCB on May 18, 2013 at 10:09 PM

No one can deny that Barack Obama is a highly skilled politician, at least by the measure of election outcomes.

If by “skilled” you mean “able to exploit the inherent weaknesses in a corrupted system better than his opponents”, ok.

Cleombrotus on May 18, 2013 at 10:09 PM

That said, STOP defending these “job creators” from paying their fair share of taxes. All in the name of “the more money they get to keep, the more jobs they will create”. Common sense disagrees with you.

HotAirLib on May 18, 2013 at 9:52 PM

Code for “You folks keep going to work and paying your taxes and INSIST that your employers pay MORE (possibly costing you your job) so I can get even more free sh!t while I sit on my lazy azz not contributing a damn thing to society other than being a POS lib on HA.

VegasRick on May 18, 2013 at 10:09 PM

xxxxxx

This is allowed now?????????????????????????????

Scrumpy on May 18, 2013 at 10:07 PM

Yes, the christian shariaists have been beaten out of policy making positions.

I keed.

tom daschle concerned on May 18, 2013 at 10:10 PM

HAL and can you please quit being dishonest about the reality of corporations?

CW

No, he can’t. Being a liberal and all, if he ever stopped being dishonest he’d have nothing to say(or post).

Yes I do.

Then you are a fool. But we knew that.

No biz owner with a brain starts a company simply to create jobs.

HotAirLib

No one with a brain ever argues that they do, which explains why you’re making that argument…no brain.

Hiring is a necessary evil.

HotAirLib

So we agree then….businesses, including oil companies, are job creators. See, that wasn’t so hard, was it?

xblade on May 18, 2013 at 10:10 PM

This is allowed now?????????????????????????????

Scrumpy on May 18, 2013 at 10:07 PM

Nah. You got to be smarter than the auto-mod.
:)

CW on May 18, 2013 at 10:10 PM

Interesting. So the billionaires who pay a 15% or sometimes lower effective tax rate; while you probably pay something close to 30% don’t bother you? Typically right winger.

HotAirLib on May 18, 2013 at 9:59 PM

Does it cost the government anymore money to uphold the constitution for a billionaire than a homeless person? thought not.

paraphrasing Obama “At some point you’ve made enough money.

Most of us feel, at some point, the governments taken enough of our money. Screw the fair share tax rate argument. Put it on the shelf with “racist!” and “war on women”.

can_con on May 18, 2013 at 10:10 PM

TXUS on May 18, 2013 at 9:55 PM

hehe. (: That Confucius was very smart.

SparkPlug on May 18, 2013 at 10:10 PM

KCB on May 18, 2013 at 9:59 PM

LOL…weeelll…my ex best friend once told me that I was sooo mean and that people like her and hate me. Think of me as a female Jack Nicholson in A Few Good Men. I unfortunately tell people the truth and most of them …. Can’t handle the truth. I’ve been around a long time. Only the good die young.

BeachBum on May 18, 2013 at 10:11 PM

I paid almost 45% last year, wrote one hell of a check to both the state and federal tax man, and I’m not exactly a billionaire. I’d like to know just how much more “fair” this is going to get because too much further and I might just decide to drop out.

Bishop on May 18, 2013 at 10:11 PM

Axe on May 18, 2013 at 10:08 PM

If I was any better I’d be Sparky!

KCB on May 18, 2013 at 10:11 PM

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