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stirs

Big Oil or Facebook?

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Big Oil should not get tax breaks, has been the opinion here for awhile, but Facebook?

Hmmmm

http://www.foxnews.com/tech/2013/02/16/facebook-paid-no-taxes-despite-record-profits/

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one has a much higher and easier proftit margin.

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As a supporter of a free market no one should get special treatment regardless of business model.

Imperialistic proponents would argue that self-sustainability as a nation with respect to natural resources and infrastructure are important to maintaining the standing of the USA as a lone world superpower.

The flip side of the coin is that the reality of a federal government spending us into extinction deserves no more money from any source. 3.8 trillion dollars a year should be easily triple the amount of what is required to perform its function as laid out by the Constitution.

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Facebook just poked you.

Bend over.

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Fwiw, I don't have an issue with the government providing breaks to some industries, as long as there is a benefit to the public interest in doing so and that benefit outweighs the cost of the benefit. But they should have to have quite a justification for providing said benefit. .

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Fwiw, I don't have an issue with the government providing breaks to some industries, as long as there is a benefit to the public interest in doing so and that benefit outweighs the cost of the benefit. But they should have to have quite a justification for providing said benefit. .

I believe that would be fine except for two things:

1) What may be deemed as a public good for some people is inherently not for others. If we were to look at a list of things that have been done on behalf of the American public, government doesn't have a great track record... especially over the past century. Native Americans and Pacific Islanders come to mind off the top of my head.

2) At the federal level, a politician is essentially in charge of someone else's credit card where their children will be responsible for the bill. Hence, if you are in the business of making promises via future accountability, you've set the stage for corruption that reads exactly like what Bastiat had laid out.

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I was thinking along the lines of providing incentives to the domestic oil industry in order to increase domestic production or finding alternative energy sources. Anything that reduces our dependence on foreign oil is a benefit to our national security imo.

Also, I was thinking about local governments providing incentives to industries that provide jobs. These are usually beneficial to the population of the state or local area.

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Local government is much more accountable than the leviathan that currently exists as Mordor on the Potomac.

Regarding dependence on foreign resources: I honestly believe that the issue would take care of itself if we were actually allowed the existence of a free market. Counting on the federal government to deliver on something like that has failed to the nth degree. Their primary charge to protect the freedoms of the American citizen is failing spectacularly. If they can't even do that, why trust them with anything else?

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Oil subsidies were designed specifically with Big Oil in mind. Facebook is simply following tax accounting laws not receiving specific subsidies aimed at facebook. Unless I misread the article.

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