Replies to This Discussion

Permalink Reply by Billy Park Whyde on March 5, 2012 at 4:24pm

gale I think I spelled it out for you since you elected to attack me first see my latest post.  I hope that sets the record straight.  

Drill Baby Drill

Permalink Reply by ji on March 6, 2012 at 3:38pm

sarah palin is an idiot.

Permalink Reply by Dan on March 5, 2012 at 3:40pm

Mark, 

Although I don't always see eye to eye with your veiws in all your posts, of all the GMS posters I have to say I respect yours the most for being the most consistant and determined but this seems like a reversal of what seemed to be consistant free market unrestrained energy exploration.   What's up?  

Permalink Reply by Dan on March 6, 2012 at 4:20am

Mark, 

I guess my short post did peg you very narrow.  Sorry about that.  I realized unrestrained was a bad word choice after I walked away, should have used over-restrained.  I know very little about the tax code but with my basic tax understanding I do not like "head taxes", B&O taxes and any other tax based on gross product by volume or gross receipts.  Why can't a impact fee be set and paid when the hole goes in the ground and the rest of the taxes be based on income whether earned individulaly or corporate .  Every time we try and shift tax burden it is more likely to be paid by someone unfairly and becomes so complex that the most knowledgable folks like "Gale" avoid them.  A simple shift in where tax revenue comes from doesn't build roads and buy fire trucks.  If the tax code is is inadequate it needs fixed but that is not a good reason to tax one industry and landowners.  The State of Ohio is leasing the parks and roads.  There is some revenues for the roads and parks system.  Eliminating state income tax this way will probably be the easiest, most public support to ever get rammed thru though.

Permalink Reply by Dan on March 6, 2012 at 5:14am

Thanks Michael, 

I missed several hours of discussion but it appears Gale finally found her/his meds.  Would be a great name for a band.  I should not have been so confrontational with Gale but I find her/his elitist attitude way off base.  I don't think she/he had anything personal toward any of us but like an Indian at the pinacle of the cast system, she looks down on the rest of us as all peasants and can't differentiate any difference between a conservative and an occupier because they are all down stream in her/his eyes.  Likewise I appreciate your and others desire to inform, educate and discuss.

Permalink Reply by Dan on March 6, 2012 at 4:40am

Mark, 

You should look at Alaska also.  Instead of income tax, residents got a check from the State.  Inflation was high even for an island like State.  Looked great on paper and the residents loved it.  I was visiting in Anchorage when oil dropped to $12.50 bbl. and the news came that the State lost their revenue source and the checks stopped to the residents and they still had prices tripple ours on most everything.  Don't put all your eggs in one basket.

Permalink Reply by Billy Park Whyde on March 5, 2012 at 4:02pm

Lets look at this;

Reply by gale yesterday

So Billy the rich don't eat or pay freight charges on their proucts or real estate taxes on their homes and ranches?  Give me a freaking break.  You’re trying rather poorly to play the class warfare game.  What are you an occupy wall street supporter of Obama's?

Permalink Reply by Billy Park Whyde yesterday

Delete

gale Might I say that your tone is rather hostile?  Hidden taxes called fines, Big Bad Tobacco gets fined and cigarette prices goes up to pay the fine that the government gets that to me is a hidden tax with the poor paying that hidden tax called a fine. EPA fines the power company and we see the AEP trying to increase rates. 

 Anytime anyone sets a price in order to make a profit and are operating on a budget and the cost to make that product, to market the product, comply with added regulation they increase the cost of the product, fairly simple.

  In case you do not know it transportation trucking has a fuel surcharge that is added to the cost of the freight that the consumer pays for. 

  I did not say the rich does not pay taxes they do however enjoy the capability of reducing the taxes they do pay by shifting the tax to the lower class.

  I am far from a occupier! But I will say I believe a flat tax on income with no deductions with no hidden taxes, excise taxes, user fees as a form of tax I would enjoy seeing. It makes no sense to me to see one work overtime at time and a half and end up with less per hour than straight pay. 

 Buy the way I am PUBLIC ENEMY N0 1. I am a Nam Vet, I own guns and Sarah Palin autographed my Vet hat!  I request you back off.

  First off you attacked me in you rant.  Now  anyone with half a brain  would see I was far from being a supporter of the occupiers or Obuma!  In reference to "Buy the way I am PUBLIC ENEMY N0 1. I am a Nam Vet, I own guns and Sarah Palin autographed my Vet hat!" Please see http://www.foxnews.com/politics/2009/04/16/napolitano-apologizes-of...""To the extent veterans read it as an accusation ... an apology is owed," she said during an on-air interview on FOX News Thursday, a day after veterans' groups and members of Congress blasted her for the report, which they said libeled members of the armed forces."

That was disproving your your rant! As far as " I request you back off" I was trying to be politically correct but since that did not cross your mind maybe plain old common farm language might do " I request you shut up" THERE! 

Permalink Reply by Billy Park Whyde on March 5, 2012 at 4:49pm

QUESTION HERE since it got lost in the melee 

Question here. If a severance tax is supposed to be put upon a landowner by the state or county but is paid by the oil producer wouldn't the land owner have to pay a income tax upon that amount as a paid benefit?

Permalink Reply by Billy Park Whyde on March 5, 2012 at 4:57pm

  Mark I am trying to ascertain if a O&G pays all of the severance tax although a land owner might be responsible for paying a share if that shared amount paid by the O&G would be taxable as income? 

Permalink Reply by Private KeepOut on March 6, 2012 at 6:56am

Gov. Kasich's Energy Policy Targets Fracking

Monday, 05 Mar 2012 04:38 AM

By Sandy Fitzgerald

• Ohio’s new energy policy will target natural gas and oil drillers in an attempt to make sure the state gets its fair share of what is expected to be a $5 billion-per-year industry. Gov. John Kasich is scheduled to unveil his energy policy next week, reports the Cleveland Plain Dealer.

 

The new plan, which will combine new taxes, fees and regulations, will be a compromise between Ohio collecting from the industry while avoiding rates that aren’t competitive with neighboring states.

 

Kasich’s proposal will include new severance taxes on oil, natural, and wet gases drawn through horizontal fracking. The proposed policy will also likely include an impact fee, which will help pay to repair damages to Ohio’s rural and small town roads from heavy trucks and equipment.

 

Neighboring Pennsylvania and West Virginia are already charging the industry taxes and fees. Pennsylvania has a locally enforced impact tax, but doesn’t charge for severance. Meanwhile West Virginia charges both fees.

 

Terry Fleming, executive director of the Ohio Petroleum Council, said the state can do well without the additional fees and taxes. He noted Ohio already collects about $14 million from the industry, and that rate could jump to more than $1 billion as more drills are built.

 

However, Ohio stands to gain much more by raising the fee: Boosting the severance tax to 5 percent, which would match rates in Michigan and West Virginia, could raise $1.7 billion in new revenue over the next decade, according to a report from the think tank Innovation Ohio. If the tax is raised to 7.5 percent, Ohio stands to gain $2.5 billion.

 

Innovation Ohio spokesman Dale Butland said it is not likely the industry would be scared away by new taxes and fees.

 

“You want to drill in shale, you have to go where the shale is, and Ohio has it,” said Butland. “It’s completely implausible that these companies are going to leave billions of dollars in profits on the table if they are asked to pay the same tax rates that they already pay in Texas."

Read more on Newsmax.com: Gov. Kasich's Energy Policy Targets Fracking 
Important: Do You Support Pres. Obama's Re-Election? Vote Here Now!

http://www.newsmax.com/US/energy-fracking-policy-ohio/2012/03/05/id...

Permalink Reply by Kathleen on March 7, 2012 at 7:35am

This tax bugs me since it will hurt so many who signed in the 50's and on up for 12.5 net.  Yes they could have been smarter if they knew what the future held but who knew and the tax at that time was nothing compared to what they are trying to do now.

I wrote the governor and I hope others do asking him if he goes along with this to help those landowners with that type of lease who stayed here in Ohio on their land paying their property taxes every year.  Maybe force it to 12.5 gross, something.  I don't have all the answers but I do not feel this is fair.  Everyone thinks anyone with land in this play will be rich, well not at 12.5 net than add this new tax.  Shame one them.  There has to be a way to do this fair if it's going to happen.  Put the tax on, give something to those with those type of leases who never thought this tax would come.  I think this is a money grab on the backs of the people who stuck it out.  I do hope others write to the governor.  I'm protected by my lease but that shouldn't matter we should all care about what happens to our neighbors.

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