I’ve been reading through the details of Saxby’s energy compromise plan. Holy crap! It raises taxes by $30 billion.
Now Saxby says that is going to be paid by oil companies, but he’s got to be retarded if he doesn’t realize they are just going to pass the buck to you and me.
Um, is there a libertarian running? I may need an alternative.
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Why are you shocked? Saxby has a history of bills that are not fiscally conservative… The Farm Bill comes to mind!
The unfortunate situation is that Saxby is the lesser evil. He’ll get my vote only because there is no one else to vote for.
Joe McCutchen has endorsed Buckley, who may get more votes than many expect.
Well, if Joe McCutchen says it, count me in! Not.
A vote for Buckley is a vote for Martin. Enjoy a filibuster-proof Senate, guys.
Erick: You’re just now realizing the truth about Saxby (grin)?
Ever since his days in the House, he has borderlined as a RINO. Why, I remember hearing him talk at a fund raiser at Idle Hour in Macon in the 90’s about how Social Security was just so gosh darn important and we couldn’t privatize it.
He never met a way to spend tax dollars he didn’t like and I wish he’d grow a damn Conservative spine.
As I think everyone around here knows, I’m for a major compromise on oil drilling to acheive engergy independence. I appreciate Saxby for trying to work in that direction.
I hope he’ll take note that the current deal on the table only allows for drilling for FL, GA, SC, NC and VA, and then still excludes part of FL.
We don’t need windfall profits on oil companies. However, the amount of royalties on oil drilled and/or the lease prices should be part of the discussion, (as well as what these monies are dedicated for).
I appreciate Saxby’s efforts here, but I do want language that gets more oil out of the ground.
Actually, Allen Buckley is the only fiscally conservative running for US Senate in Georgia.
Buckley for Senate
“We don’t need windfall profits on oil companies.”
http://seattletimes.nwsource.com/html/localnews/2008103325_alaskatax07.html
That’s not what the new savior of the GOP thinks, proving once and for all the the Republican Party has abandoned all conservative principles.
And Palin’s tax has caused oil companies to lose interest in drilling in Alaska.
http://hotair.com/archives/2008/08/11/palin-backed-alaskan-windfall-profits-tax/
A vote for Buckley is a vote for Martin. Enjoy a filibuster-proof Senate, guys.
A vote for Buckley is a vote for Buckley.
If Chambliss loses it’ll be because he did not present a message that resonated with his base. The man is not a fiscal conservative. He never has been. He is a just another big-government Republican that needs to be run out of office.
Wow…could it be that some Peach Pundit partisans are actually requiring more from a candidate to earn their votes than an (R) by their name on the ballot?
A vote for Buckley is a vote for Buckley. You are never going to get a fiscal conservative until you start voting for one.
Voting in ‘your guy’ and then hoping that they will change their stripes is foolish.
I love all the cute names that laymen give to taxes–the death tax, sponge tax, windfall tax, etc.
I want to read the actual tax legislation in AK to be certain, but I can say now with a reasonable degree of certainty that it models severance/extraction taxes that exist in other western states.
Note that even the Seattle newspaper article, which was undoubtedly written and edited by by people that do not know crap about aw or taxes, states that the tax is on oil extracted from state lands. It is only applied when the oil is extracted, and is a graduated tax scheme. The essential point I am making is that it is tied to extraction/production in the state and apparently only from state property. If the law is at it appears, it is in line with extraction taxes and severance taxes on other resources.
BTW, if you read Daniel Yergin’s book, The Prize, that is the method the oil companies developed with countries in the middle east to compensate them for oil–taxes rather than profit sharing–so that they could get the tax credit back in the US.
What it is not is a tax on gross or net income for all refined petroleum products sold in the state at retail. I therefore do not perceive the tax that Alaska imposes to be anything like the taxes the Dims in Congress want to impose. I’ll give 10 to 1 odds that they want to tax all revenue from all petro, without consideration for location of extraction or the type of produce.
How the windfall tax works
The tax is imposed on the net profit earned on each barrel of oil pumped from state lands, after deducting costs for production and transportation.
The tax is set at its highest rate in Prudhoe Bay, where the state takes 25 percent of the net profit of a barrel when its price is at or below $52.
The percentage then escalates as oil prices rise over that benchmark.
Sorry, meant to provide the Link to the above quoted article.
As I stated above, the Seattle PI article was written and edited by people that do not know crap about law or taxes. If there is anything that can be said with accuracy about the MSM and law, they will always get it wrong. I take anything the MSM says about such topics very lightly.
I want to see the actual statute or commentary by accountant, tax attorneys, etc. that actually know how it works.
I will proudly vote foer the only true fiscal conservative in the race and that is Libertarian Allen Buckley.
liberator,
Have you ever really met Allen Buckley. Allen Buckley, the tax attorney/accountant, who has told me many times (during his first run a few years back) at various local LP meetings how he likes the current tax code and thinks it is a bad idea to change it. That Allen Buckley?
He must be a fiscal conservative in the very literal definition of conservative, resistant to change.
Saxby has no real chance of losing which is why it frustrates me so much that he started this Gang of 10. I voted for him to represent the conservative principles of the Republican party, not to compromise. I know there are times when you have to reach across the aisle for votes. This is not one of those times. We have the winning side of the issue, we can win, and the American people support our position. Instead, as Newt put it last night, Isakson and Chambliss saw victory and compromised.
The entire Republican Party in Georgia should lose, after the way they have betrayed all of us on immigration.
I say we recruit HERMAN CAIN!
Let’s organize a WRITE IN CAMPAIGN with HERMAN CAIN – Can’t you just see Herman Cain and Johnny Isakson in Washington together???
Hahahahaha
I would LOVE to see HERMAN CAIN and OBAMA go toe to toe in the SENATE … Oh yeah Baby! There would be a SHOW DOWN – SHO NUFF!
I would like to see Herman in the race but, his health will probably not let him. As far as Johnny goes…. as soon as we get rid of Saxby we’re going to work on getting rid of Johnny.
Who is “we”?
As iffy as I am on Saxby, I just don’t think Jim Martin can pull it off. Should have called Jim Marshall up and bitten the bullet in the 8th. Jim is almost more Conservative than Saxby and is a Democrat to boot, and is more well known than Martin.
I’d rather see Herman Cain in the governor’s race.
“Saxby may just lose,” yep and there’s a toad outside my back door sitting under a mushroom.
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