Not good news for GM, GM racing or Corvettes.
02-29-2008, 08:18 AM
#41
Le Mans Master
Whether there is a tax break or not is immaterial. If the corporation paid the tax, it'd be passed on in the price of the product, anyway.
Corporate taxation just gives the government a way of indirectly taxing the individual and blaming it on someone else.
02-29-2008, 10:47 AM
#42
Safety Car
I hesitate to post this as I know what I'm going to hear; I'm an evil man in an evil industry taking advantage of the working man.......
I'm in the oil and gas drilling, production and natural gas processing/transportation segments of the energy industry. We are doing extremely well. The company I work for is Unit Corporation (NYSE: UNT). Regardless of what I know many will post we work hard to make a dollar. Went through the 80's and much of the 90's trying to keep from going broke. Our business is cyclical. Currently we're in a up cycle.
I'm the VP of safety, health & environment for the company. Our drilling business unit is the 3rd largest in the US land sector with 130 rigs. We also have an exploration and production company and a midstream business.
We CANNOT hire enough people to run the rigs. Starting wages for UNEDUCATED, UNSKILLED entry level workers (i.e., roughnecks) is well over $50k/year plus full benefits. The "smart" uneducated/unskilled employees looking for a career can work up to rig manager level in 5 years and make over $100k/year.
The work force is depleted. Anybody wanting to work is working. Interesting tidbit is these opportunities exist without "unions".
PLUS, they work a 12 hour a day, 7 day on, 7 day off schedule (i.e., only work 1/2 the year). This is no exaggeration. The entire industry is unable to hire people. We can't get people to pass the drug test to work for these wages. Granted the work is hard, but very rewarding.
Time for people to consider leaving the places with limited opportunity and go where the jobs are. There is no lack of opportunity for somebody willing to work.
Life is great, as least my life. Others can realize the same if they're willing to go where the grass is greener.
BTW, I live in Oklahoma. Work with my company alone is available from Texas to Wyoming, Arkansas to Utah. No foreclosure issues in this part of the country. The economy in the areas where these opportunities exist are booming.
I hate having to put it on but, the FLAME SUIT is now on.
Rick
P.S. Please check the rate of return for my company/industry before posting how we're raping the working men, women and children of the good old US of A.
I'm in the oil and gas drilling, production and natural gas processing/transportation segments of the energy industry. We are doing extremely well. The company I work for is Unit Corporation (NYSE: UNT). Regardless of what I know many will post we work hard to make a dollar. Went through the 80's and much of the 90's trying to keep from going broke. Our business is cyclical. Currently we're in a up cycle.
I'm the VP of safety, health & environment for the company. Our drilling business unit is the 3rd largest in the US land sector with 130 rigs. We also have an exploration and production company and a midstream business.
We CANNOT hire enough people to run the rigs. Starting wages for UNEDUCATED, UNSKILLED entry level workers (i.e., roughnecks) is well over $50k/year plus full benefits. The "smart" uneducated/unskilled employees looking for a career can work up to rig manager level in 5 years and make over $100k/year.
The work force is depleted. Anybody wanting to work is working. Interesting tidbit is these opportunities exist without "unions".
PLUS, they work a 12 hour a day, 7 day on, 7 day off schedule (i.e., only work 1/2 the year). This is no exaggeration. The entire industry is unable to hire people. We can't get people to pass the drug test to work for these wages. Granted the work is hard, but very rewarding.
Time for people to consider leaving the places with limited opportunity and go where the jobs are. There is no lack of opportunity for somebody willing to work.
Life is great, as least my life. Others can realize the same if they're willing to go where the grass is greener.
BTW, I live in Oklahoma. Work with my company alone is available from Texas to Wyoming, Arkansas to Utah. No foreclosure issues in this part of the country. The economy in the areas where these opportunities exist are booming.
I hate having to put it on but, the FLAME SUIT is now on.
Rick
P.S. Please check the rate of return for my company/industry before posting how we're raping the working men, women and children of the good old US of A.
No Flames here..THANKS for the post. Very Informative!
02-29-2008, 10:51 AM
#43
Melting Slicks
Member Since: Sep 2006
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Corporations should not have to pay income taxes, period!
Whether there is a tax break or not is immaterial. If the corporation paid the tax, it'd be passed on in the price of the product, anyway.
Corporate taxation just gives the government a way of indirectly taxing the individual and blaming it on someone else.
Whether there is a tax break or not is immaterial. If the corporation paid the tax, it'd be passed on in the price of the product, anyway.
Corporate taxation just gives the government a way of indirectly taxing the individual and blaming it on someone else.
Shareholders then pay taxes based upon their own personal income situation.
Corporate taxation takes money out of the pockets of the shareholders and allows the government to tax profits twice.
The only reason that certain industries get "tax breaks" is either because of the onerous tax burden put on them in the first place, or to encourage them to get involved in obviously un-profitable, politically driven industries and technology.
Kind of like "hanging a bone around the neck of the ugly kid so the dog will play with him."
02-29-2008, 11:03 AM
#44
Racer
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You're correct. There is minimal "oil" exploration or production in the US lower 48. The "energy" drilled for/produced in the US lower 48 is 80% natural gas, 20% oil.
OPEC isn't driving the price, the market is setting the price. Too much production from the former USSR, Mexico. Canada, etc for OPEC to have the influence most people think they have. Don't get me wrong they can sway the market, but not set the underlying price.
When you say $400M is that $400,000 or $400,000,000? In financial reporting "M" is an abbreviation for thousand. If so I don't think a $400,000 bonus is out of line at all if difficult goals are met and shareholders are rewarded. $400 million on the other hand would make me skeptical as a shareholder!
Regarding $3.00 gas and the profit issue I googled a 2006 government report depicting the cost/profit breakdown for a gallon of gas:
47%: Cost of crude
23%: Federal, state, and local taxes
18%: Refining costs and profits
12%: Distribution and marketing, retail dealer profits
The federal, state and local governments make more profit than anyone else involved. MANY ARE UNAWARE OF THIS FACT.
Every $3.00 gallon on an nationwide average is taxed 23%, or approximately $0.75. This is obscene!!!!!!!
Reminds me of the Dire Straights song, Money for Nothing....
I don't feel profit margins for the ones doing the work are out of line. Hell, producers/sellers of bottled water have profit margins MANY magnitudes higher than energy companies.
If we want lower pump prices lets get the stinkin' government to cut there take!!!!! THEY **** me off.....
OPEC isn't driving the price, the market is setting the price. Too much production from the former USSR, Mexico. Canada, etc for OPEC to have the influence most people think they have. Don't get me wrong they can sway the market, but not set the underlying price.
When you say $400M is that $400,000 or $400,000,000? In financial reporting "M" is an abbreviation for thousand. If so I don't think a $400,000 bonus is out of line at all if difficult goals are met and shareholders are rewarded. $400 million on the other hand would make me skeptical as a shareholder!
Regarding $3.00 gas and the profit issue I googled a 2006 government report depicting the cost/profit breakdown for a gallon of gas:
47%: Cost of crude
23%: Federal, state, and local taxes
18%: Refining costs and profits
12%: Distribution and marketing, retail dealer profits
The federal, state and local governments make more profit than anyone else involved. MANY ARE UNAWARE OF THIS FACT.
Every $3.00 gallon on an nationwide average is taxed 23%, or approximately $0.75. This is obscene!!!!!!!
Reminds me of the Dire Straights song, Money for Nothing....
I don't feel profit margins for the ones doing the work are out of line. Hell, producers/sellers of bottled water have profit margins MANY magnitudes higher than energy companies.
If we want lower pump prices lets get the stinkin' government to cut there take!!!!! THEY **** me off.....
02-29-2008, 11:07 AM
#45
Melting Slicks
Member Since: Sep 2006
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Your land of opportunity is true. Unfortunately when some are suffering, some are capitalizing on the sufferer.
There are many that are just barely making enough business to keep what they have. It's the truth. It's easy to say it's not real when it hasn't hit you.
I am glad you are able to make your purchases. It is what we need to keep the economy moving.
There are many that are just barely making enough business to keep what they have. It's the truth. It's easy to say it's not real when it hasn't hit you.
I am glad you are able to make your purchases. It is what we need to keep the economy moving.
Everyone suffers hardship from time to time, but too many people surround themselves in the veil of "victimhood" instead of taking action to solve the problem.
When sh-t happens you can either complain about the smell or clean it up.
Complaining about the smell and waiting for someone else to do the dirty work is easy. But it prolongs the unpleasantness.
Cleaning the crap takes effort, and the job sucks, but once it's cleaned up, one can again "smell the roses."
02-29-2008, 11:20 AM
#46
Melting Slicks
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Lets see...
Iraq will cost us $2 Trillion or $7000 for every man woman and child in the US, illegals and all. Think about that... if you are a family of 4 pull $28,000 out of your saving right now.
1 in every 100 US adults are in jail or prison.
We are the largest debtor nation in the world.......and we just keep going further in debt.
Greeks ruled the world...Rome ruled the world....Persia was the most powerful nation, England, France, Spain......America.....yep it's pretty sad....and niether the goverment or we really care enough to do anything about it......I do believe that at my somewhat advanced age I will not have to see the total collapse......or what we and past generations have saddle our children with.
Not a doomsdayer but a realist....reality is we are in trouble and getting deeper every hour of every day and I haven't even heard a hint of a plan to dig our butts out. Guess what...anyone who thinks this is temporary is a fool we will continue to have little ups and bigger downs.
Oh and Happy Leap Year
Iraq will cost us $2 Trillion or $7000 for every man woman and child in the US, illegals and all. Think about that... if you are a family of 4 pull $28,000 out of your saving right now.
1 in every 100 US adults are in jail or prison.
We are the largest debtor nation in the world.......and we just keep going further in debt.
Greeks ruled the world...Rome ruled the world....Persia was the most powerful nation, England, France, Spain......America.....yep it's pretty sad....and niether the goverment or we really care enough to do anything about it......I do believe that at my somewhat advanced age I will not have to see the total collapse......or what we and past generations have saddle our children with.
Not a doomsdayer but a realist....reality is we are in trouble and getting deeper every hour of every day and I haven't even heard a hint of a plan to dig our butts out. Guess what...anyone who thinks this is temporary is a fool we will continue to have little ups and bigger downs.
Oh and Happy Leap Year
Here's a unique concept,
HAVE PEOPLE STOP DEPENDING ON SOME GOVERNMENT ENTITY TO PROVIDE FOR THEIR NEEDS!
But that won't happen, too many AARP and special interest dollars going to Congress to continue and expand cradle to grave government handouts of some sort.
But, that just my opinion.
02-29-2008, 01:22 PM
#47
Le Mans Master
Member Since: Oct 2005
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Everyone suffers hardship from time to time, but too many people surround themselves in the veil of "victimhood" instead of taking action to solve the problem.
When sh-t happens you can either complain about the smell or clean it up.
Complaining about the smell and waiting for someone else to do the dirty work is easy. But it prolongs the unpleasantness.
Cleaning the crap takes effort, and the job sucks, but once it's cleaned up, one can again "smell the roses."
You also may have to reorganize, scale down, get creative, spend tons of dough advertising,etc. Wait a minute, I just publicized my secrets.
The first thing is refuse to fail and get off your bottom and make it happen.
It also helps to talk to optimistic people with sound judgment.
02-29-2008, 03:33 PM
#48
Drifting
Corporations should not have to pay income taxes, period!
Whether there is a tax break or not is immaterial. If the corporation paid the tax, it'd be passed on in the price of the product, anyway.
Corporate taxation just gives the government a way of indirectly taxing the individual and blaming it on someone else.
Whether there is a tax break or not is immaterial. If the corporation paid the tax, it'd be passed on in the price of the product, anyway.
Corporate taxation just gives the government a way of indirectly taxing the individual and blaming it on someone else.
02-29-2008, 03:54 PM
#49
Team Owner
Thread Starter
02-29-2008, 04:01 PM
#50
Racer
Member Since: Nov 2007
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Angry white men vote, editorial Aspen Times
http://www.aspentimes.com/article/2008198091324
This should proably be a thread.
Read this; it is right where a lot of your comments are comming from,
it is a 90 MPH fastball right down the middle.
Finally someone has the guts to tell the truth....
This should proably be a thread.
Read this; it is right where a lot of your comments are comming from,
it is a 90 MPH fastball right down the middle.
Finally someone has the guts to tell the truth....
02-29-2008, 04:34 PM
#51
Melting Slicks
Member Since: Nov 2000
Location: Merritt Island Florida
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hmmmmm let me see:
Weight duty 11.000 usd
Cui duty 110.000 usd
HP duty 130.000 usd
Oh and 25% VAT , we have 25% VAT on everything you buy in Norway
A car considered to be "normal" by our gouverment will let out around 170 g/km Co2, oru Corvette is doubble that, but duty is 10-12 times higher
regards
Rune
02-29-2008, 04:43 PM
#52
Team Owner
Thread Starter
Corvette Z06 is around 100.000 usd, then you have a few small dutys to pay to get your titled and legal to drive.
hmmmmm let me see:
Weight duty 11.000 usd
Cui duty 110.000 usd
HP duty 130.000 usd
Oh and 25% VAT , we have 25% VAT on everything you buy in Norway
A car considered to be "normal" by our gouverment will let out around 170 g/km Co2, oru Corvette is doubble that, but duty is 10-12 times higher
regards
Rune
hmmmmm let me see:
Weight duty 11.000 usd
Cui duty 110.000 usd
HP duty 130.000 usd
Oh and 25% VAT , we have 25% VAT on everything you buy in Norway
A car considered to be "normal" by our gouverment will let out around 170 g/km Co2, oru Corvette is doubble that, but duty is 10-12 times higher
regards
Rune
to the land of HP
02-29-2008, 04:54 PM
#53
Melting Slicks
Member Since: Dec 2003
Location: Charlotte NC
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http://www.aspentimes.com/article/2008198091324
This should proably be a thread.
Read this; it is right where a lot of your comments are comming from,
it is a 90 MPH fastball right down the middle.
Finally someone has the guts to tell the truth....
This should proably be a thread.
Read this; it is right where a lot of your comments are comming from,
it is a 90 MPH fastball right down the middle.
Finally someone has the guts to tell the truth....
02-29-2008, 04:55 PM
#54
Melting Slicks
Member Since: Nov 2000
Location: Merritt Island Florida
Posts: 2,225
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I am serious thinking about it, my kids has to grow up first, but i have many friends in US, i grew up with american friends, as my town is like Houston in the US, oil capital. and we had the big American companies coming here late 60 early 70`s.
I am going to Sebring with my twin boys march 12th, then to Austin and Houston, visit SW and a friends in Houston.
We are going to look at houses
With the price drop and the exchange rate today it seems to be good investment, and as someone said, this is what US need to get wheel turning....
By NOT paying duty on my Z06, i can buy a house and a Z06 and still have money for hot buffalo chicken wings for a whole year.
So i have to apply for green card, i think it will go ok, if i bring my business over there ?
regards
Rune
02-29-2008, 06:18 PM
#55
Team Owner
Thread Starter
I am serious thinking about it, my kids has to grow up first, but i have many friends in US, i grew up with american friends, as my town is like Houston in the US, oil capital. and we had the big American companies coming here late 60 early 70`s.
I am going to Sebring with my twin boys march 12th, then to Austin and Houston, visit SW and a friends in Houston.
We are going to look at houses
With the price drop and the exchange rate today it seems to be good investment, and as someone said, this is what US need to get wheel turning....
By NOT paying duty on my Z06, i can buy a house and a Z06 and still have money for hot buffalo chicken wings for a whole year.
So i have to apply for green card, i think it will go ok, if i bring my business over there ?
regards
Rune
I am going to Sebring with my twin boys march 12th, then to Austin and Houston, visit SW and a friends in Houston.
We are going to look at houses
With the price drop and the exchange rate today it seems to be good investment, and as someone said, this is what US need to get wheel turning....
By NOT paying duty on my Z06, i can buy a house and a Z06 and still have money for hot buffalo chicken wings for a whole year.
So i have to apply for green card, i think it will go ok, if i bring my business over there ?
regards
Rune
02-29-2008, 07:17 PM
#56
I am serious thinking about it, my kids has to grow up first, but i have many friends in US, i grew up with american friends, as my town is like Houston in the US, oil capital. and we had the big American companies coming here late 60 early 70`s.
I am going to Sebring with my twin boys march 12th, then to Austin and Houston, visit SW and a friends in Houston.
We are going to look at houses
With the price drop and the exchange rate today it seems to be good investment, and as someone said, this is what US need to get wheel turning....
By NOT paying duty on my Z06, i can buy a house and a Z06 and still have money for hot buffalo chicken wings for a whole year.
So i have to apply for green card, i think it will go ok, if i bring my business over there ?
regards
Rune
I am going to Sebring with my twin boys march 12th, then to Austin and Houston, visit SW and a friends in Houston.
We are going to look at houses
With the price drop and the exchange rate today it seems to be good investment, and as someone said, this is what US need to get wheel turning....
By NOT paying duty on my Z06, i can buy a house and a Z06 and still have money for hot buffalo chicken wings for a whole year.
So i have to apply for green card, i think it will go ok, if i bring my business over there ?
regards
Rune
02-29-2008, 09:16 PM
#57
Safety Car
http://www.aspentimes.com/article/2008198091324
This should proably be a thread.
Read this; it is right where a lot of your comments are comming from,
it is a 90 MPH fastball right down the middle.
Finally someone has the guts to tell the truth....
This should proably be a thread.
Read this; it is right where a lot of your comments are comming from,
it is a 90 MPH fastball right down the middle.
Finally someone has the guts to tell the truth....
People have been talking about the "Angry White Male" for a while.......finally it's gaining traction.
02-29-2008, 09:39 PM
#58
Instructor
Member Since: Jan 2001
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This Thread topic shouldn't be in Autocrossing & Roadracing. It should be under Off Topic or maybe Private forums. Having said that maybe things will get better when we get rid of the idiot President we have now. He's about ruined this Country.
02-29-2008, 10:16 PM
#59
This thread should be moved to PR&C.
02-29-2008, 11:02 PM
#60
Safety Car
Do we hear the harping when Bill Gates loads his bank account with bonuses and stock value increases? What about when Steven Spielberg makes a blockbuster movie and he racks in millions? Or Ken Thompson's, the CEO of Wachovia Bank, $6 mil unrestricted stock bonus after watching shareholder value tank?