American Politics

[EihTooms]

You just don't get it, do you?

Of course, they won't save their money to taxpayers, that's not why they're there. Instead, they're removing career personal from Pentagon and security agencies including top military and intelligence leaders for no reason at all! Man, you're not brainless MAGA cultist, how can you possibly NOT see this?

Absolutely. A single reading of your previous post made it clear as day what you meant.

President Chainsaw Musk isn't taking "an axe" to ANY meaningful budget cuts. When has Trump or anyone standing close enough to Trump to smell him ever SAVED anyone else money? Lolol. He SCAMS people out of more and ever more money. He already drove up the deficit more than any president ever the first time around after being handed a near perfect set of economic trajectories, far better than any outgoing Repub ever handed an incoming Dem in history.

What Musk and Trump are doing will COST Americans more money and ADD to the deficit.

And along the way he will, not might, he will hand over all available USA military intel and control of it to whichever enemy or enemies make the highest bid for it. And it will go directly into his and his oligarch friends' pockets, not the USA Treasury.

[Spidy]

Those headlines are bull shit. Reagan's changes in the tax law mostly removed the motivation for oil and gas producers to set up Master Limited Partnerships. They're common for pipelines and other midstream companies though, and for companies that own real estate like apartment and office buildings. Do they really provide substantial tax benefits now that the federal corporate tax rate was cut from 35% to 21%?

When it comes to MLP's tax structure and tax advantages, its all too apparent that it was mostly created specially, for energy oil and gas (O&G) companies.

MLPs Tax Advantages:

Only a small fraction of companies (ie. niche industries like, minerals, forestry and timber) use MLP for real estate, as REITs are simpler, more efficient, and a more popular tax structures for mainstream real estate.

If you take a look at MLP investment sector with MLP indexes, ETFs and mutual/hedge funds (like Alerian MLP Index and others), will have 90-95% weighted O&G energy stocks, in their portfolios. Meaning MLPs are most definitely primarily created as tax shelters, with preferential tax treatment, to benefit O&G energy companies.

In the long term, not a lot. In the short term, if they keep expanding, MLP investors benefit from the depreciation write offs. IMO, in order to treat all industries fairly and equally, it would be a good idea to either (a) open up the MLP structure to other industries or (b) eliminate the MLP structure for companies that start up in the future.

O&G companies, are making billions, you'd think their time at the gov't trough should have ended long ago.

I've already covered intangible drilling costs and percentage depletion, the main bogeymen in the Reuters article. While yes, IDC results in less revenue to the Treasury in the short term, in the long term the company pays the same amount of tax. There's no difference between it and the way R&D or Section 179 depreciation are handled for other industries. And again, the percentage depletion allowance, which is only available to small oil and gas producers, should be done away with.

As to the tax advantages / disadvantages for foreign oil and gas income described in your NPR article, that cuts both way. Yes, oil and gas are exempt from the GILTI tax imposed in the Republican's 2017 Tax Cuts and Jobs Act. However, under IRC section 907, oil and gas companies cannot utilize tax credits for foreign taxes paid to the extent that other companies have. The GILTI tax was designed to force tech and pharmaceutical companies from parking patents and the like in tax haven countries. The amount raised by GILTI from a capital intensive business like oil and gas wouldn't be that significant anyway.

The headlines lie. Again, take into account severance taxes and the gasoline tax, and oil and gas companies pay more than their fair share.

The GILTI Tax O&G Loophole:

Allow me to explain, why I think your assessment of GILTI, and that it applies more to tech and software companies, and not so much to oil and gas (O&G), is not entirely correct.

Although, Ken Moy (lobbyist/lawyer for American Petroleum Institute from my NPR article: https://www.npr.org/2021/12/14/10640...-first-thought), is correct, that O&G companies have to go where the reserves are found, and can't necessarily choose to solely operate, just in low-income tax jurisdiction/countries, like tech and software companies can, he left out one key important fact ...intangible assets.

To calculate the foreign taxes on oil and gas (O&G) tangible assets, under GILTI, the tax guidelines says to use FOGEI/FORI, in the Subpar F carveout of GILTI, found in IRC section 907. All other non-energy O&G companies use the standard GILTI calculation, unless specified.

The O&G foreign tax calcs, using FOGEI/FORI must use the standard U.S. corporate tax rate (currently 21%), so no real tax benefits there on O&G tangible assets.

However...where the tax loophole comes into play, is from having a large base of oversees tangible assets (or QBAI: ie. rigs, platforms, well, refineries, storage facilities, buildings, offices...etc), that allows O&G companies to reduce their foreign income tax/GILTI tax, on their holdings of intangible assets.

The strategy of allocating or increasing their oversees tangible asset base, to reduce the GILTI tax, on their intangible assets, is widely practiced and seen as very beneficial, many O&G companies, w/r to paying lower taxes.

After doing some digging on the GILTI tax, it appears that the O&G companies (to my surprise, anyways), have more in common with the tech and software industries, than you'd think.

Yes indeed, they do have a vast, expanding and growing portfolio of intangible assets, commonly know as patents, licensing, copyrights, technical know-how, proprietary technologies...etc, that are strangely enough, as we all know, are often more commonly associated with, the tech and software industry. Ergo the why O&G companies want to keep the GILTI loophole!

• QBAI Calculation and Its Impact on Tax Planning Strategies:"QBAI plays a critical role in the Global Intangible Low-Taxed Income (GILTI) calculation by influencing the deemed tangible income return. This return, equal to 10% of the QBAI of each controlled foreign corporation, reduces the amount of GILTI subject to U.S. tax.
  
  Businesses can manage effective tax rates by increasing investment in tangible assets, raising the deemed tangible income return, and potentially decreasing GILTI inclusion. This strategy is particularly relevant for industries with substantial capital expenditures, like manufacturing and technology." https://accountinginsights.org/qbai-...ng-strategies/

• Intangibles and performance in oil and gas industry --"Findings: Results show that intangibles had a significant impact on firm performance in multiple financial measures. Firms intangibles also influence their market capitalization, indicating that the financial markets discount such information in their pricing." --Brief Synopsis by Emerald Insight. (Bedtime Reading) https://www.researchgate.net/publica...d_gas_industry OR https://www.emerald.com/insight/cont...1139/full/html

Finally, while the O&G lobbyist/lawyers and other O&G apologists, would have you believe that the GILTI tax, is more for the tech and software industry, when the truth is, the intangible assets for O&G companies, using the GILTI tax loophole, is a windfall!

The headlines in those articles, told the TRUTH and were indeed correct, calling for the oil and gas subsides, tax advantages and loopholes to end!

[SubCmdr]

ADA

Huge move after POTUS announced that it will be included in a strategic crypto reserve.

https://www.cnbc.com/2025/03/02/trum...-and-more.html

Speaking of deadbeat presidents and crypto, I was very surprised nobody had reported on the other one in Argentina, who's embroiled in the $LIBRA scandal. I mean that story came out like about two weeks ago...and crickets here at ISG?

Since I know very little about the subject of crypto, I was leaving it up to experts like yourself to report on the story and weigh in, on what it all, could possibly mean?

My limited understanding like 2-weeks ago: Like 5 people held 75% of the value and cashed out as soon as the value spiked from nothing to $5. Now president is accused of "rug pulling" and corruption.

Yet another right-wing president who hasn't quite figured out how "greed" works and how NOT to incentivize "greedy" ponzi schemes in right-wing political regime?

Argentina's $4.6 Billion Crypto Scandal; Largest-Ever Crypto Theft
https://www.forbes.com/sites/digital...-crypto-theft/

What say you, crypto experts?

PS: And to all you wingers, where's the love now, for Argentine President Javier Milei? Not to worry though, doesn't President Musk, have enough crypto, to bailout his Argentinian bro-president like, 4x over? (...kkkk!)

I comment about what I know. I don't know jack about $LIBRA. Why? Because I don't participate in the meme coin casino. ADA has been around since 2017 when it was released to the public. I don't see anyone complaining about Casino profits in Las Vegas. They are produced because the people in the casinos lose money.

I do not believe anyone should be mandated to buy an EV. I was won over by a ride in a EV. I was never impressed by Tesla due to its prices. It was liberal luxury they could feel good about. I own a Private Jet but I drive a Tesla. GET THE FUCK UP OUTTA HERE!!

[Spidy]

Bro, I don't agree with your opinions that much. But I had a visceral negative reaction to the Oval Office Performance by POTUS.

He is in my opinion a: punk ass ***** sitting up in the White House with his thumb on the nuclear button acting more like a gangster than a US President. He appears to be on his knees in front of Putin. It is a crying shame. I am embarrassed for me and my fellow Americans.

We need Obama, Clinton, Bush Sr. hell even Regan back!

We are on the path to dictatorship if the courts and congress do not put a check on dis mother fucker!

Well said...but none of this, comes as a surprise to me!

Project 2025, as was foretold by us Dems, over and over again, to the American people (and to ISGers), is alive and well!

Next stop...for the American Fuhrer and MAGA, ..."The Hunger Games"??

So far has produced nothing of substance for the CRYPTO industry. Next election Democrats need to fight to the crypto vote!

• Speaking of deadbeat presidents and crypto, I was very surprised nobody had reported on the other one in Argentina, who's embroiled in the $LIBRA scandal. I mean that story came out like about two weeks ago...and crickets here at ISG?

Since I know very little about the subject of crypto, I was leaving it up to experts like yourself to report on the story and weigh in, on what it all, could possibly mean?

My limited understanding like 2-weeks ago: Like 5 people held 75% of the value and cashed out as soon as the value spiked from nothing to $5. Now president is accused of "rug pulling" and corruption.

Yet another right-wing president who hasn't quite figured out how "greed" works and how NOT to incentivize "greedy" ponzi schemes in right-wing political regime?

Argentina's $4.6 Billion Crypto Scandal; Largest-Ever Crypto Theft
https://www.forbes.com/sites/digital...-crypto-theft/

What say you, crypto experts?

PS: And to all you wingers, where's the love now, for Argentine President Javier Milei? Not to worry though, doesn't President Musk, have enough crypto, to bailout his Argentinian bro-president like, 4x over? (...kkkk!)

[Xpartan]

Let us be honest, trump is not looking for peace, he wants Ukraine to surrender unconditionally while he is praising putin and begging a war torned Ukraine for money. What the fuck is going on? Your president is begging for money like a crackhead.

I remember a time when usa was a Great country, nowadays USA have to do any and everything to appease russia and harass small third world countries for money. There's absolutely zero dignity in the White House today. It is tragic to see how Marco Rubio betrays what ha used to believe in, the same goes for Ted Cruz and Lindsey Graham in the senate.

The White House is like a clown car, but instead of clowns it's full of pro-Putin, right-wing weirdos.

I understand that the current administration isn't interested in contributing a single dollar to support the defense of democracy; but why do they have give in to every command coming from Kremlin? Trump and jd Vance are actively working to strengthen putin.

The answer is on the surface even if it sounds as a conspiracy theory. Unfortunately, all other logical explanations fail.

[Xpartan]

I wish you were right, that DOGE will take an axe to the defense budget. We spend more on defense than the next 9 highest-spending countries combined. But you're not right.

The USA is now spending 850 billion annually on defense. In the budget resolution just approved by the Senate, this will go up even more, to $1 trillion! Any cost savings for the military from DOGE will be insignificant.

We spend 8 X more on defense than Russia. We're armed to the teeth. I don't understand why you're so worried about the threat from Moscow.

Of course, they won't save their money to taxpayers, that's not why they're there. Instead, they're removing career personal from Pentagon and security agencies including top military and intelligence leaders for no reason at all! Man, you're not brainless MAGA cultist, how can you possibly NOT see this?

[Axel Heyst]

How about this hybrid: 1200 hp and check out the powertrain on this baby. Don't scoff boys. It is all about innovation. This is how the free market works. The Ferrari F80 is already sold out, proving there is demand for hybrids. You just have to make cars that people want to own and not force crap on them with regulations and mandates.

[Tiny 12]

DOGE was designed with one goal in mind -- to destroy the military preparedness of this country. No foreign enemies would be able to inflict the damage the DOGE has already done without a single shot fired. And this is just the beginning, we ain't seen nothing yet.

US intel shows Russia and China are attempting to recruit disgruntled federal employees, sources say

https://www.msn.com/en-us/news/polit...ay/ar-AA1A0kIc

I wish you were right, that DOGE will take an axe to the defense budget. We spend more on defense than the next 9 highest-spending countries combined. But you're not right.

The USA is now spending 850 billion annually on defense. In the budget resolution just approved by the Senate, this will go up even more, to $1 trillion! Any cost savings for the military from DOGE will be insignificant.

We spend 8 X more on defense than Russia. We're armed to the teeth. I don't understand why you're so worried about the threat from Moscow.

[Newton York]

I just want NVDA to go back up again *sigh*.

[Tiny 12]

EV's are on my list of consideration for my next vehicle. But I want a SUV. I'm even considering an electric scooter. But I have to investigate the logistics of charging it up. Scooters get between 80 - 100 MPG so I'm not sure how much of a contribution an electric scooter would actually make.

My take on renewable is they should be the priority. Oil should be reserved for products like aviation and the production of materials. I am not ready to fly in an electrically powered airplane just quite yet. LOL!

I'd leave it up to free markets SubCmdr. If you mandate BEV's here in God's Country where I live, there'd be a revolution. Elvis posted about a hybrid truck recently, that would appear to make a lot more sense than BEV's for anyone who drives longer distances.

That said, I understand your enthusiasm for renewables, particularly in the Dominican Republic. Until researching Spidy's claims, I didn't realize the air was so polluted in the DR. I guess I was lucky when I visited Santo Domingo. Six of the 500 cities with the highest particulate matter concentration in the world are in the tiny DR. Yes, perhaps mandating renewables, if they work given the climate and don't create undue hardship on the people, makes sense there.

[The Cane]

So far has produced nothing of substance for the CRYPTO industry. Next election Democrats need to fight to the crypto vote!

Well what did you really expect man? The guy is a serial liar and full of bluster! He's going to end the Ukraine war in just a matter of hours. He's going to bring the price of groceries down. And yadda, yadda, yadda! People hang on to his bullshit words with hope, but anybody with any sense knows that cocksucker isn't going to do shit but fuck everything up! Just like he did last time! He didn't create a strong economy. After Bush and the Republicans fucked it up, Obama and the Democrats fixed it and handed it to his ass. Then what did Trump and the Republicans do? Of course, they fucked it up again, and Biden and the Democrats had to deal with all the turds left on the ground (no good deed goes unpunished)! Fasten your seat belt and hold on! It's only March 2025, and we have a long way to go until this piece of shit is out of office! FAFO (Fuck Around and Find Out)!

[Elvis 2008]

Let us be honest, trump is not looking for peace, he wants Ukraine to surrender unconditionally while he is praising putin and begging a war torned Ukraine for money. What the fuck is going on? Your president is begging for money like a crackhead.

If that is your version of events, I am not going to convince you of anything.

I remember a time when usa was a Great country, nowadays USA have to do any and everything to appease russia and harass small third world countries for money. There's absolutely zero dignity in the White House today. It is tragic to see how Marco Rubio betrays what ha used to believe in, the same goes for Ted Cruz and Lindsey Graham in the senate.
The White House is like a clown car, but instead of clowns it's full of pro-Putin, right-wing weirdos.

This sounds like a European making criticism. When Russia first attacked Ukraine, I was very skeptical as it seemed like a psyop to get Covid off the front pages. The more I have read, the worst it has become. Matt Taibbi, is a reporter I trust and he was chasing down the money that went to Ukraine and I could just read in his face how exacerbated he was by the corruption and how few dollars were actually making it to the Ukrainian front line.

I understand that the current administration isn't interested in contributing a single dollar to support the defense of democracy; but why do they have give in to every command coming from Kremlin? Trump and jd Vance are actively working to strengthen putin.

What Democracy? Europeans got together with the Democrats and tried to sabotage the will of the American voters in 2016. Besides Christopher Steele being a Democrat puppet, we have the UK banning free speech and the rest of Europe following. Romania elected a conservative candidate, and the election was overturned by the EU. German's conservative AFD party was attempted to be banned. Zelensky has banned the opposition parties, does not have a free press, is jailing peace preaching pastors, and will not hold elections.

Trump does not want to send American dollars earmarked for Ukraine any more because the Ukrainians cannot keep track of where it is going. He wants out of NATO, and he has said the EU was formed to screw the USA, and he is going to put 25% tariffs on the EU.

So with Zelensky, the MAGA guys cheered and the Democrats booed. That was predictable. What changed is Zelensky now has zero support among Republican Congressmen and the loathing of European political leaders, who came to Zelensky's support after this debacle, has begun.

I thought the USA leaving NATO, which it should have done after the fall of the USSR, was not going to happen. Now I think the odds are better than 50-50. I suspect whatever European tariffs cost us can be offset by the amount we save in getting out of NATO and withdrawing support from Ukraine.

The most offensive thing Zelensky said was that he was saving the USA from Russia. He did not say thank you. He did not have to. We should be thanful he is willing to take our money, and that is the attitude of most Europeans.

Europe is the perpetual kid getting in family fights that we American adults have had to bail out of jail. Europe is like the child telling the American adults we are lucky to be paying the bail money. I am done with that. It is time for Europe to take the diaper off and grow up.

[SubCmdr]

So far has produced nothing of substance for the CRYPTO industry. Next election Democrats need to fight to the crypto vote!

[EihTooms]

Not proud to be from the United States of America right now!

Bro, I don't agree with your opinions that much. But I had a visceral negative reaction to the Oval Office Performance by POTUS.

He is in my opinion a: punk ass ***** sitting up in the White House with his thumb on the nuclear button acting more like a gangster than a US President. He appears to be on his knees in front of Putin. It is a crying shame. I am embarrassed for me and my fellow Americans.

We need Obama, Clinton, Bush Sr. hell even Regan back!

We are on the path to dictatorship if the courts and congress do not put a check on dis mother fucker!

It was one of the greatest understatements of all time when The Speaker of the House stood up at a meeting, looked Trump square in the face and declared, "All roads with you lead to Putin. ".

As overwhelming as the evidence always was and conclusively acknowledged as such even by Investigation Committees headed by Repubs, Russia Russia Russia Russia has now taken a clear and unambiguous turn for the worse, if that is possible, by the America-hating Traitors in the White House:

Two Must-See videos, one 12 minutes in length:

https://youtu.be/Zn9BTALjtLY?si=NQSStN8lRMoyXOVN

Another one 5 minutes in length:

https://youtu.be/iSW8ezOmYHs?si=4DIcxYiRf8KfsCpY

And they are simply brief recaps of seemingly endless and ongoing evidence for what the World is witnessing as the downfall of America at the tiny hands of Trump.

[Xpartan]

DOGE was designed with one goal in mind -- to destroy the military preparedness of this country. No foreign enemies would be able to inflict the damage the DOGE has already done without a single shot fired. And this is just the beginning, we ain't seen nothing yet.

US intel shows Russia and China are attempting to recruit disgruntled federal employees, sources say

https://www.msn.com/en-us/news/polit...ay/ar-AA1A0kIc