Kasich is a Socialist!

No doubt the man who said he was going to attract busines to Ohio is doing the complete opposite! Goodbye gas drilling! "We believe that by modernizing our energy taxes, we can allow all 11.5 million Ohioans frankly to benefit," Kasich said.
More taxes? He said he was going to lower taxes! What a Socialist!

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Permalink Reply by Elnathan Cory on March 16, 2012 at 1:20am

Gov. John Kasich is proposing a tax increase on fracking, along with a corresponding income tax cut directly tied to how much the state collects from new oil and gas production.

 

Clearly this is a tax increase and redistribution of wealth!

Permalink Reply by Elnathan Cory on March 16, 2012 at 1:42am
Kasich’s plan calls for taxing crude oil and liquid natural gas from fracked wells, beginning at 1.5 percent of gross receipts and going up to 4 percent, all depending on when each drilling company recoups its start-up costs. Dry gas would also fall under Kasich’s tax plan, and would be charged at 1 percent.
 
It's a tax!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!increase!!!!!!!!!!!!!!!!!!!!!!
Permalink Reply by Elnathan Cory on March 16, 2012 at 1:52am

Not only that:

The state's Democrats favor this tax increase in the bill.

 

Permalink Reply by Elnathan Cory on March 16, 2012 at 2:07am

I was just quoting from Newsmax! You better talk to them about it!

"However, the Kasich administration said the proposed taxes are lower than rates charged in Michigan, Texas, North Dakota, and West Virginia." (Newsmax)
 
Not lower than PA! Ouch, the competition across the border. I hear the rigs moving already! (ME)



Read more on Newsmax.com: Ohio Gov. Kasich's 'Frack Tax' Opposed by GOP Lawmakers

Permalink Reply by Schnoozie on March 16, 2012 at 2:07am

Did you read the part on how there will be no tax on wells producing less that 10Mmcf per day? Just curious. Over here in PA that alone would affect all the smaller operators, historicly family companies who have the bulk of the established long term employees.

You act like he wrote the bill alone with no imput from anyone, Dems. were in on it as were the R's and the Industry. A true Socialist would.., like the one in the White House just do what ever he pleases to preserve his precious voting base. Kasich is going to do his level best to deliver Ohio to the Republicans in the fall and it will be the best thing for the entire country. The rest of us are going down to Beaver Co. to open hotels and lemonaide stands. You can go buy a box of tissues.

Permalink Reply by Elnathan Cory on March 16, 2012 at 2:11am

Good luck with the lemonade stand! I'll be too busy counting my $ over here in PA! Kasich is a Socialist in a republican cover!

Permalink Reply by Schnoozie on March 16, 2012 at 2:54am

Anyone in business knows this. Yes they were all involved on all sides. And they did it much faster than it happened in PA. I really dont know why I am so focused on this but, it makes my blood boil when I hear any decent man being slandered by an idiot liar with no business background. Sit and do payroll with me on Wednesdays and you will see how much I like paying taxes. (bags fist on desk!)

If I get my well. Wait let me clarify...If I am fortunate enough, and the company who is getting my lease decides to go into their pocket and invest their money in my property, or for anyone in Mercer Venango for that matter it will be the type that will produce under 10M per day. Likely 2-4M. Both guys who visited us said that and I believe them. This will encourage more drilling of these type of wells not less. More employment not less and generate more money for everyone involved that we will gladly spend and then pay more in taxes.

Permalink Reply by Dan on March 16, 2012 at 3:22am

Schnoozie, 

Aside from all the other tax issues involved, If this promotes smaller wells, wouldn't it possibly be promoting more overall impact?  Plus there is a rig shortage.

When the Govt. gives tax incentives they are slowly directing the coarse of business.  This is one reason there are so many NG leaks in cities.  I used to have commercial property in town and when the gas company dug up the line, the 20th time in two years I went out to look and you could not see the pipe for the saddle patches.  I told the crew "no wonder it's leaking those patches are not made to go on top of each other."  They told me the gas company gets tax credits for repairs, and when they get tax credits for new lines they will replace it.  In the Govt.s wisdom trying to promote repairs they caused more leaks in the long run which now fuel the anti NG crowd because the methane release.

 

 

 

 

Permalink Reply by Elnathan Cory on March 16, 2012 at 2:14am

My quotes are directly from Newsmax. Please read the article in my thread

Ohio Gov. Kasich's 'Frack Tax' Opposed by GOP Lawmakers

 

It is from Newsmax the right wing e-paper.



Read more on Newsmax.com: Ohio Gov. Kasich's 'Frack Tax' Opposed by GOP Lawmakers
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Permalink Reply by Elnathan Cory on March 16, 2012 at 2:57am

All money collected from the shale boom should be put back into promoting this business in Ohio. This creates jobs and tax revenue and then the income tax rate can be lowered. Lets not detroy the industry before it gets rooted. An income tax cut is great but not from another tax increase!

Permalink Reply by Dan on March 16, 2012 at 3:29am

Mark,

They can't spend what gets taken in fees and taxes unless they get it back in a incentive that directs how they can spend it. 

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