Why aren't the Bush tax cuts being used for what we were told...

[Missy M]

they would be? I heard on the news this week that one of the reasons for the price of gas going up is new refineries were not being built and we didn't have enough of them. I thought the tax cuts were to stimulate the economy and for business to reinvest in their companies. If it is true new refineries aren't being built then the question is, WHY NOT? The oil companies are getting huge record breaking profits and tax breaks yet they are not reinvesting. I guess the investing is going into retiring CEO's pockets.

[unblock]

1. business ARE reinvesting!

by taking over overseas companies, silly!

[FormerDittoHead]

2. Exactly. This is the hole in the FairTax argument as well...

I digress, but it does relate.

Those national sales tax FairTax zombies who acknowledge that the rich will pay a lower rate of taxes under that SCHEME counter that by saying that while the money isn't being spent, it is invested and being "put to work"...

They don't mention WHERE it's being put to work, however...

[C_U_L8R]

3. CEOs are reinvesting

in their golden parachutes.

Do we need any more proof that we are being ripped off ?

[justice1]

10. You took the words right out of my mouth.

[alfredo]

4. They should only get tax credits for investment in their business.

If you build a new refinery, update technology, you get a tax credit.

[Missy M]

5. Absolutely, then a tax credit would be well deserved.

[alfredo]

12. The way it is set up now it encourages looting. That just makes

the US less competitive because it puts personal wealth over innovation.

[Zenlitened]

6. Artificial scarcity. Oil companies can make more money...

... if they keep the spigot tight.

[BlueJazz]

7. This Lie (Tax cuts to provoke reinvestment) is one of the biggest

..pack of Bullsh*t ever to come out of the Republican Book.

When their Idol..Ronald RayGun cut Taxes, the sales of high priced items (over $10,000.00)
Sky-Rocketed.
The sales of such items as very large Diamond rings, Cabin Cruisers, Sport Cars (Ferraris)
went through the roof.

Investment, My Ass! :mad:

[gizmo1979]

8. The many lies of republicans

one is nothing can be done about the price of gas.Bush rattles sabers at Iran he can do the same with big oil.Freeze the price,tax excessive profits at 80%,make them pay to drill on government land.

[TahitiNut]

9. No new refineries have been built for 30 years. Thirty years.

So much for the myth about profits being reinvested in production capacity. After all, why invest to increase supply and kill the goose laying the golden eggs? It's been even longer since a new supplier has entered the market - a 'market' that bears as much resemblance to a 'free market' as Junior resembles Gandhi.

[Burning Water]

11. The companies certainly

use any extra money unwisely, but refineries are environmentally unsound and we don't want anymore of them. If higher gas prices are what we have to pay, it is worth it to drive down oil consumption, freeing us from the stranglehold of the terrorists and slowing the destruction of planet Earth.