Big Oil, Free Trade and How We Get Pumped at the Pump, Every Day

reply to post by Wrabbit2000


Some are willing to shoot anything down until it comes to doing work. The challenge is out there or do they jump down the wombat hole.

It was going to be a Wrabbit hole but I was not sure you would like the company.

P

Originally posted by Wrabbit2000
reply to post by lacrimoniousfinale

 

If anyone would like further facts on a side issue to the primary OP (Indv. Income Tax and Corporate Tax specifics)? They're more than welcome to explore that to it's conclusion and please do share whatever is found. We'll all be interested.

Beyond that, I'm far too buried in something of importance and totally unrelated to run up bunny trails for hours to get precise chapter, verse and page # on a side issue my OP didn't even cover. Please let us know about the facts you may uncover though ...since these specific tax details seem to be of real serious importance to you.

Fair enough. I've obviously misunderstood your post from the very beginning, and wasted a lot of people's time because of that. I thought it was about how FTZs were being used as tax havens. I now understand that this was just a side issue. My apologies once again.

For the record on the thread, you didn't misunderstand anything. I just wrote nothing whatsoever about Individual Income Tax to the employees of anything operating inside the FTZ's, nor did I give any focus in even a passing way to corporate taxes as a specific tax category.

The tax breaks and tax exceptions are, as the OP shows, advertised clearly and in many different ways across the U.S. Government sites set to promote business use and further expansion of the FTZ system.

Our system has over 70,000 pages to the tax code, and that's just a recent year's tabulation. I'd imagine it's much higher now.



In those 70+ thousand pages, there are hundreds if not thousands of different types and specific categories of taxes to be paid or avoided (The BIGGEST problem, if you ask me). This simply focused on the narrow set of them which apply to business operating with import/export components ..and how that's abused silly.

Sorry for the misunderstanding, to the extent one happened, for which specific sections of that massive tax code this is referring to.

ThirdEyeofHorus
reply to post by Wrabbit2000

 

I was trying to understand it in relation to the Keystone Pipeline, but otherwise I think I understand that foreign entities get around paying taxes to local communities via these foreign trade zones.

The articles do say that anything which leaves the foreign trade zones is subject to tariffs though, the way I read it is it is only interactions which happen inside the trade zones are not subject to taxation.

I need to go back and reread the material though. I had another project today which involved a lot of brainstorming.

edit on 24-3-2013 by ThirdEyeofHorus because: (no reason given)

One idea might be that the oil and related materials are distributed with these zones and their laws as part of their distribution model. This means that they can potentially circumvent many laws, regulations and taxes that would apply to most people doing business in the states.

The new Keystone installation is simply a pet project for a few lobbyists who represent a small handful of people. They work hand in hand with other lobbyists who engineer the legalities and policy in DC. They in turn employ a few lobbies who are hired to garner public support for the project and engineer widespread political alignment in favor. The fact of the matter is, the majority of that oil will not be used to diminish the cost of gas, or increase the supply of gas in the states. The whole thing is a pet project, I reckon it is not high on my list of to dos.