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Because cities like Las Vegas and Atlantic City petitioned them to make it illegal? I wonder how much $$$ all the Native American reservations gave our "representatives" to make it illegal, too?
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Washington is too busy chasing small time online poker fraudsters instead of Wallstreet's derivative "financial engineers" (who molest Main Street on a daily basis, need I say).
Seriously, millions play online poker daily. And yet those math geniuses at the IRS can't figure out a way to tax this stuff? Why is online poker/gambling illegal in this country?
Because cities like Las Vegas and Atlantic City petitioned them to make it illegal? I wonder how much $$$ all the Native American reservations gave our "representatives" to make it illegal, too?
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I didn't want to jump to conclusions but that seems to be the only plausible reason.
The silly thing is the environment of play is so different. Vegas' panic is premature. Anyone who wants to go to Vegas and can afford to will go. Sure Vegas will be competing with the online sites but they won't be crippled.
Almost all industry regulation is written by the most well connected players in that industry. Do you really think they help write stuff that will decrease profits? Or do they actually write things that decrease competition and solidify their own positions as well connected dinosaurs? Look at toy "safety" regulations - that were brought about because of Mattel importing shoddy chinese toys. Guess who wrote the regulations? That's right the same people that caused the "need" for them. What did it accomplish? Making it almost impossible for a small company or individual to create a new toy without spending thousands on certifications. Making you a criminal for selling used toys at garage sales.
Food and drug safety - written by the most powerful to keep others out of the market. Look at what the tobacco industry has been able to accomplish with getting the government to outlaw electronic cigarettes.
Left, right, center doesn't matter what side of the aisle or team you belong to. Your government has run amok and is only in the business of making itself bigger, more powerful, and beholden to the highest bidders.
Next on the agenda for the feds: cracking down on the porn! Cause that's the important sh*t that needs doin' LOL
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Thread: This ain't a Full House
Sorry, I thought this was a thread about members...
---------- Post added at 10:56 AM ---------- Previous post was at 10:50 AM ----------
Because the gaming industry, the brick-and-mortar casinos, tracks, bookies, lobbied Congress to have it outlawed because it was cutting into their action. This is not a hypothesis but fact that you would have to go back a few years and look up. Actually passed into law. It is also a law that cut off their own nose in spite of themselves...it did not slow online gambling down one second and people in droves all over the globe can play. You do not need to hop a redeye to Vegas or Atlantic City. All you need is an internet connection and an account.Originally Posted by Infoproliferati
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
Yeah, let's add another tax ON TOP of the taxes they pay on their winnings.. I will never understand why Liberals like yourself are so hell bent on taxing hard working Americans who are already over taxed as it is.
You think creating new taxes is the solution to our financial problems but it's really not... Reckless and irresponsible spending is the problem, by that I mean racking up 4 Trillion dollars in debt with no plan on how to pay it back. Government just blows the money anyway, That $4 TRILLION your boy Obama BLEW went to the States so they can shore up the public employee pension programs which are bankrupting almost every state, it's also went to budget shortfalls to our colleges. It went everywhere, except where it was intended to go, and that is creating jobs in the private sector.
Instead of figuring out new ways on taxing the private sector, why not figure out new way's on taxing the public sector instead? Their living far more comfortable than the private sector is... We can start by having them pay for their own health care premiums like everyone else does, And how about layoffs? why don't we layoff a couple hundred thousand of them? we can do it in the same time frame it took Obama to ADD over $200,000 employees to the Government payroll, with borrowed money that's paying for it.
Last edited by Raider; 05-12-2011 at 12:17 AM.
Please vote Republican in 2012, America can not sustain another 4 years
of Liberal policies that are fiscally and socially destroying the country..
How about getting rid of that $4 Billion a year is oil subsidies that congress just passed that goes to the richest oil companies in the world? Thats good for the next 10 years which will result in over $40 Billion of our tax money being given away free to the oil rich greedy bastards that gouge us for every penny they can at the gas pumps.
The repugs are fighting as hard as they can in congress to keep this theft from the taxpayers legal.....and they still expect the people to dump Obama and elect one of their own as president....what a joke!
I am anxious to see who comes up head to head with the current president.
But you are correct...GOP siding with the Oil Cos. will certainly give the Dems much fodder for their campaigns to run against those very people.
To be perfectly honest, we are in a cycle of replacing seated Congressional members every 2 years and swapping party leadership in the senate. And I do not think this is a cycle that is going to be broken for quite some time.
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
And still the Dems and Repugs aren't getting the hint. It would be nice to have real game changers in congress. Real as in politicians who can put necessity, priority and common sense ahead of partisan BS.
You're asking too much of someone. Partisanship is killing this country and any hope of being competitive in world markets and any hope of a sustained recovery.
I want to see members of congress truly cross lines and vote consciously for the betterment of the people and nation, not toe the party line. But, as I mentioned to you, now I am asking too much.
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
What bill is that?
If your referring to tax provisions in the tax code, these are NOT subsidies, these are tax provisions/deductions that apply to many other companies that have nothing to do with Oil or Energy.. If Exxon Mobile takes a $100 million dollar loss on drilling in Alaska, give me one good reason why they shouldn't be able to write that off? Not much different if domainers lost $10,000 investing in crappy dot mobi's.
As for $4 billion in tax breaks, this is chump change to the amount of money Obama cost the Oil Companies in the Gulf.. Shell Oil alone lost over $4 Billion because of that trigger happy FOOL we elected, AND Shell had the safety valves installed on ALL their rigs that would of prevented such a disaster!, and we closed them down? So much for doing the right thing, only to be penalized for it... What a fvcking moron Obama is.
The Oil Companies are the highest taxed business in the United States, 41 percent compared to 26 for the rest of businesses in S&P’s and here we are again trying to tax them even more.
WTF do you care about price gouging?.. The higher the price the better it is for the environmentalist's.
I totally understand your desire to tax and penalize the Oil Companies, the environmental objective is and always has been to INCREASE the price of Gasoline, I bet if the price of gas doubled to $8-$10 a gallon, you'd be jumping for joy wouldn't you?. This would force consumers to use less fuel, trade in their cars for something more fuel efficient and move closer to the metropolitan areas, reducing emissions.. This is the plan isn't it?
In the 2 years Obama was Prez and we had a Democratically controlled house and Senate, why weren't the tax provisions for Oil Companies removed then?. You had a filibuster proof majority and you didn't do it, this goes for Immigration reform as well.. 5 months after the November election and it's suddenly the Republicans fault?, You make me laugh H2FC, this is almost as asinine as blaming Republicans for Obama's dismal record of the last 2 years.
And it's that record that going to hang him.
No President has ever been more partisan than Obama, He doesn't unite, he divides. Here we are 2 1/2 years into his Presidency and he's still trashing Republicans everywhere he goes... Like it's really going to make Republicans get on board with his reckless policies.
Last edited by Raider; 05-12-2011 at 08:25 PM.
Please vote Republican in 2012, America can not sustain another 4 years
of Liberal policies that are fiscally and socially destroying the country..
I have no intentions of arguing with you Raider but if you don't know about the oil subsidies I'm talking about then you obviously don't keep up with the news. You can call the free give away of our tax money to the oil industry what you want but it is being done with subsidies and its only possible because of the hugh money gifts made mostly to the republicans who are supporting this ripoff of the american taxpayer.
You can be assured all of this will be made public to every voter long before the next election. Obama is on the right side of this issue and it will cost the crooked repugs any chance of getting rid of him.
Notice how H2FC ignores my question when asked what BILL he's referring to... Reason for that is, his claim of $4 BILLION in tax subsidies will be exposed for the LIE that it is.
Definition of a Subsidy;
"A subsidy (also known as a subvention) is a form of financial assistance paid to a business or economic sector."
This from the Senate Hearing last week;
Rex W. Tillerson, chief executive of Exxon Mobil, said that the provisions, such as a tax deduction for certain types of manufacturing, were not “special incentives, preferences or subsidies for oil and gas, but rather standard deductions applied across all businesses in the United States.”
This is from the Heritage Foundation;
Broadly Available Tax Provisions Are Not Oil Subsidies
In many cases, what the President and anti-oil crusaders label an oil subsidy is neither a subsidy nor a tax treatment specific to the oil and gas industry. These are broad tax policies that apply to many industries. When the Administration takes aim at these provisions specifically in the oil and gas industry, it is essentially a targeted tax hike. These provisions include:
Section 199 Deduction. This tax deduction, under Internal Revenue Code Section 199, goes to all domestic manufacturing. Producers of clothing, roads, electricity, water, and many other goods produced in the United States are all eligible for the manufacturer’s tax deduction. The Section 199 deduction is unavailable to the service sector, and even that is a stretch, as the tax deduction includes music and movie production. Removing oil and gas production eligibility for this tax break is not removing a subsidy or closing a tax loophole but imposing a targeted tax hike. In fact, Congress already imposed a tax hike on oil and natural gas companies by freezing the deduction at 6 percent when other manufacturers receive a 9 percent deduction.
Foreign Tax Credits and Deferral of Foreign Income. The foreign tax credit and deferral are two critical features of a worldwide tax system that prevent the U.S. corporate income tax from double taxing—and further crippling—the international competitiveness of U.S. companies. The President has proposed cutting deferral and limiting the applicability of the foreign tax credit. This would significantly increase taxes paid by U.S. businesses, subjecting more U.S. foreign income to double taxation and severely undermining the ability to compete abroad and grow at home. The President is charging in exactly the wrong direction. He should instead advance the competitiveness of American companies and workers by proposing to eliminate the U.S. tax on foreign source income. Foreign tax credits and deferral of foreign income are not unique to the oil industry, so the President’s proposal is just another punitive, targeted tax hike.
Now please show us where the US Government GAVE the Oil Companies or a Tax Credit of $4 Billion dollars..
I won't hold my breathe.
Please vote Republican in 2012, America can not sustain another 4 years
of Liberal policies that are fiscally and socially destroying the country..
Big Oil's $4 billion tax break in doubt
http://money.cnn.com/2011/04/26/news...bama/index.htm
Obama repeated his call Tuesday for an end to $4 billion in oil industry tax breaks
http://www.btls.com/news/stories/big...-in-doubt.html
Oil Industry Fights a Tax, It Reaps Subsidies
http://www.nytimes.com/2010/07/04/business/04bptax.html
Alaska Gave $4 Billion in Tax Credits to Oil Companies Since 2006
http://eyeonthearctic.rcinet.ca/en/n...es-since-2006-
There’s no reason to continue to give giant oil companies a $4 billion a year tax windfall
http://www.dailymarkets.com/economy/...company-gusher
Oil industry officials say that the tax breaks, which average about $4 billion a year are a bargain for taxpayers.
http://oilprice.com/Energy/Energy-Ge...-Looks-On.html
How Big Oil Saves $4.4 Billion a Year on Taxes
http://www.dailyfinance.com/2011/05/...year-on-taxes/
Is it time to look at oil company tax breaks?
http://money.msn.com/tax-tips/post.a...c-fa8b582d7f90
How rules allow the oil industry to save $4.4b a year in taxes
http://gulfnews.com/business/oil-gas...taxes-1.807334
Man, that's like giving eyesight to the blind...
"Just a lot of embarrassment, embarrassed to be part of group of domainers who would do this to their fellow man.",
Condemnation of Mobee boys and investors by our precious Mother Theresa of Domaindom
Lol @Doc
Right on point ilovedomains. On point.
ilovedomains....thanks for posting those links and saving me the time of looking them up. Of course it won't make any difference to Raider....to her discredit she only reads and acknowledges what supports her misguided opinions.
Yes, thank you very much for posting... Thank you for confirming that it is TAX PROVISIONS written into the tax code that companies can deduct and NOT "SUBSIDIES" that were GIVEN to the Oil Companies like H2FC LIED about.
The only one here who has clearly proven himself misguided is YOU... We all know you hate oil companies because of your warped views on fossil fuels, but keep in mind that this planet is not just about you and the wacko environmentalist's, we have BILLIONS of other people in this world that rely on oil and fuel to drive to work everyday, produce products, deliver food to our stores and services to our homes and businesses.. Punishing the oil companies who are already the most overtaxed companies in the US, will only mean higher prices at the pump... But WTF do you care right?.
Last edited by Raider; 05-17-2011 at 11:46 AM.
Please vote Republican in 2012, America can not sustain another 4 years
of Liberal policies that are fiscally and socially destroying the country..
Tax breaks, tax credits, tax benefits, are not "TAX PROVISIONS", they're all oil company subsidies being given free to the most profitable companies in the world while America is going broke. The greedy bastards are taking our US tax money handouts while at the same time gouging us for every penny they can at the gas pumps.
To support such actions is unamerican and an insult to us all no matter what party or person we may support. Either Raider is just plain ignorant or she's taking handouts from big oil just like their other supporters are doing in Washington. I really don't believe the greedy bastards are paying her for trying to win supporters for them here on the internet....that only leaves one other explanation.
Thank you for confirming how much of a true idiot you really are, An idiot who doesn't know or even understand the definition of "Tax provision" and "Subsidy".
The great majority of Americans take advantage of Tax Breaks and Tax Credits and you refer to these credits as "Subsidies"?
Your saying the LESS money Government TAKES from us is a "Subsidy?... According to YOU, The US Government is "Subsidizing" all Americans.??? LMFAO!!!!!. This is by far the most stupidest thing you have ever posted.
For the past couple weeks, politicians on the left have tried to re-define the word "Subsidy" and uneducated fools like you buy into it. Amazing.
I'm with the majority, I don't like the high price gas or the Billions in profits the Oil Companies are making either, but punishing and taxing the oil companies so Uncle Sam can pad their pockets is NOT the answer... If you really cared about the high price of Gas to consumers, why aren't you here advocating bringing down the cost at the pump? You wont do that because you don't give a sh*t how high the price goes, you want the price to increase so consumers will use less, like Orin Hatch pointed out.
I have to say these 5 Oil executives did a great at defining "Subsidies" for what they really are;
Oil Executives, Defending Tax Breaks, Say They’d Cede Them if Everyone Did.
http://www.nytimes.com/2011/05/13/business/13oil.html
WASHINGTON — Executives of five of the largest oil companies on Thursday defended the $2.1 billion they receive each year in tax breaks, but said they would be willing to give them up as part of a comprehensive reform of the tax code.
At a three-hour Senate Finance Committee hearing that was largely political theater interrupted occasionally by a serious tax policy discussion, the oil industry executives said their current tax breaks were not subsidies but legitimate tax deductions, shared in some cases with other industries.
Rex W. Tillerson, chief executive of Exxon Mobil, said that the provisions, such as a tax deduction for certain types of manufacturing, were not “special incentives, preferences or subsidies for oil and gas, but rather standard deductions applied across all businesses in the United States.”
He said that eliminating the provision just for the oil industry would be “misinformed and discriminatory.”
Under questioning from Senator Max Baucus, Democrat of Montana, the panel’s chairman, Mr. Tillerson said that he would support repeal of the manufacturing tax credit and other tax incentives, as long as all businesses were treated the same.
“Repeal it for everybody, gone,” he said. “Everything for everybody everywhere ought to be on the table.”
At issue was a Democratic-sponsored bill to rescind roughly $2 billion of the $4 billion in tax incentives the oil industry now enjoys annually, with the money dedicated to deficit reduction. Mr. Tillerson shared the witness stand with top executives of the four other biggest multinational oil companies, John S. Watson of Chevron; Marvin E. Odum of the United States division of Shell; H. Lamar McKay of BP America; and James J. Mulva of ConocoPhillips.
Collectively, the five companies reported more than $35 billion in first-quarter profits, and are on a pace to set record profits for the year. Their profits, their tax treatment and gasoline that in many areas is over $4 a gallon have made them juicy targets for Democrats seeking political points and painless revenue.
The bill, which is expected to come to a vote on the Senate floor next week, is unlikely to command a filibuster-proof majority in the Senate. Even if it passes, it has little chance in the Republican-dominated House, which seems more inclined to provide the oil companies more access to public lands and waters than to clamp down on their tax incentives.
The House passed the third of three Republican pro-drilling bills on Thursday. The measure would force the Interior Department to open large tracts of the Atlantic, Pacific and Arctic coasts to oil exploration and to set annual production goals. The administration and most Democrats opposed it, saying that the Deepwater Horizon accident a year ago demonstrated the dangers of offshore operations.
The Senate tax bill’s chief sponsor, Senator Robert Menendez of New Jersey, demanded that Mr. Mulva apologize for a ConocoPhillips press release on Wednesday that called the tax proposal “un-American.”
“I think that’s beyond the pale,” Mr. Menendez said. “I was hoping you would come here and apologize for that.”
“Nothing was intended personally,” Mr. Mulva said.
“So the bottom line is you’re unwilling to apologize,” Mr. Menendez said. “So I’ll continue to take offense.”
Most Republicans, along with Democratic senators from energy-producing states, appear sure to oppose the plan. One oil-state Democrat, Mary L. Landrieu of Louisiana, said this week that oil and gas subsidies accounted for less than 13 percent of all United States energy subsidies.
The ranking Republican on the finance committee, Senator Orrin Hatch of Utah, suggested that Democrats were playing a cynical game, seeking to blame oil companies while, he asserted, intending to raise gasoline prices to force reduced consumption.
“So while the American people ask Congress to do something about high gas prices,” he said, “the response of Democrats is to rail against oil executives, to mask the fact that their policy is actually to make the price at the pump more painful.”
He called the hearing a “dog and pony show” and displayed a blown-up picture of a dog riding a pony, to underscore his argument that the hearing was just a chance for Democrats to score political points, without doing anything about high gas prices or a sensible energy policy.
Mr. Odum of Shell said in an interview after the hearing that he was disappointed that the discussion focused on the relatively small value of the oil industry’s tax breaks and not on the broader question of how to address the deficit and expand domestic production of oil and gas.
“The piece I take the most exception to, once you get past some of the theater aspects of the setting, is that it’s such a narrow view,” he said. “If the purpose is to address the deficit and the long-term health of the economy, the bigger picture is more important. And that is to produce more oil and gas and get the revenue streams and jobs from that.”
Last edited by Raider; 05-18-2011 at 01:04 AM.
Please vote Republican in 2012, America can not sustain another 4 years
of Liberal policies that are fiscally and socially destroying the country..
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