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Government Subsidies (Farm, Oil, Export, Etc)

GwadGwad Member Posts: 2,855
in Tug Tavern
https://www.thebalance.com/government-subsidies-definition-farm-oil-export-etc-3305788

Each year, the U.S. federal government subsidizes a wide range of economic activities that it wants to promote. What exactly are subsidies? The definition may be broader than you think. Find out about the most well-known subsidies, the history of these subsidies, and some of their costs.
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Comments

  • GwadGwad Member Posts: 2,855
    Bump
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  • MikeDamoneMikeDamone Member Posts: 37,781
    edited September 2019
    Sounds like there are some places to cut spending. And taxes.

    Do you have a point?
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  • PurpleThrobberPurpleThrobber Member Posts: 44,187 Standard Supporter
    Lawful tax deductions are just that - lawful tax deductions. Subsidies are sending cash or services to a particular industry or business.

    I ran oil wells for a gazillion years. Never once got a check from the US government for doing or not doing something. Sent a bunch of checks to them in the form of royalties though. Also Sent a bunch of checks to a ton of royalty holders who in turn either invested or spent the money in the US economy. 12.5% every single month.

    And that's a bad thing how?

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  • GwadGwad Member Posts: 2,855
    The WTO disagrees with you.
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  • PurpleThrobberPurpleThrobber Member Posts: 44,187 Standard Supporter
    Gwad said:

    The WTO disagrees with you.

    so does my wife on most things -doesn't stop me from giving her the deep purple throbber.

    What's your point?

    Or are you angling for some deep purple throbber too. I mean -maybe. But I don't know you all that well.



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  • GwadGwad Member Posts: 2,855
    I'm just here to marvel at human ignorance. I don't really have an 'official' position.
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  • PurpleThrobberPurpleThrobber Member Posts: 44,187 Standard Supporter
    Gwad said:

    I'm just here to marvel at human ignorance. I don't really have an 'official' position.

    Pretty normal progressive stance.

    "I don't have an opinion or can form a cogent thought but but.....you're stupid/ignorant/dumb/an idiot".

    Maybe break the half back out once in a while, Coach Pettibone.

    Revel me with your years of experience in extractive industries and 'subsidies'.

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  • WestlinnDuckWestlinnDuck Member Posts: 15,326 Standard Supporter
    He doesn't have a point. Nothing like a leftard trying to explain "subsidies". The oil industry can deduct its capital investment in equipment and oil exploration. Just like Intel can deduct the cost of a new multi-billion dollar fab facility and research and development. As Purple mentioned, the oil and gas industry pay billions and billions in taxes and royalty payments. Then toss in all the private sector jobs and all the associated income taxes and payroll taxes. Remember one one famous leftard moron explained to us little people that we couldn't drill our way to lower energy prices.
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