Queery #2

2001400ex said:

MikeDamone said:

2001400ex said:

SFGbob said:

Here's one of the "subsidies" listed by your source Hondo.

Intangible drilling oil & gas deduction ($2.3 billion)

Now here's what "Intangible drilling costs" really are.

Intangible Drilling Costs are essentially the cost of drilling a new well that have no salvageable value. Currently, most exploration companies are allowed to deduct 100% of the costs in the year they are incurred with the majors able to deduct 70% of the costs immediately with the remaining 30% amortized over 5 years. In what world would money spent that may or may not be recovered be capitalized as an asset?

So because we allow oil companies to deduct the cost of drilling a non-producing well in the world of Hondo the Kunt that's a "subsidy."

Hondo when you deduct your home mortgage or business expenses are you being "subsidized" by the Federal government?

Yes I know what my article said and what your article said. Thanks for repeating it.

And yes reducing my income for home mortgage INTEREST is a subsidy. People who rent can't deduct any part of their rent.

Businesses expenses are just that, a business expense. However, capital projects are capitalized and the oil industry gets to deduct drilling costs in the year incurred, which contrary to your article, should be capitalized.

You are awful at this.

Not stealing your money is a subsidy? Jesus, you’re one indoctrinated dumbfuck.

Yes we know that you don't think there should be taxes except to pay for the military.