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Groups who advocated for the IRS to prepare tax returns sure look foolish these days: http://t.co/oKvpIofu7Y
May 13, 2013 06:30 PM
taxreformer -
"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
May 13, 2013 06:00 PM
taxreformer -
Health insurers and businesses are already feeling the iron-clad grip of regulations in #Obamacare: http://t.co/J6dfnKqFYZ
May 13, 2013 05:30 PM
taxreformer -
Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
May 13, 2013 03:46 PM
taxreformer -
Under #Obamacare, mothers have had a tougher time purchasing non-prescription, over-the-counter medicine: http://t.co/dJuaGAT9LE
May 13, 2013 02:01 PM
taxreformer -
9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
May 13, 2013 01:30 PM
taxreformer -
.@GroverNorquist on MFA: "[The Senate] didn't ask all of the questions that needed to be asked": http://t.co/wXfkIR2Ca9 #NoNetTax
May 13, 2013 01:01 PM
taxreformer -
"When architects of #Obamacare are worried about it creating a trainwreck, you know something's gone terribly wrong": http://t.co/J6dfnKqFYZ
May 13, 2013 12:30 PM
taxreformer -
Conservative and Free Market Groups Applaud Move to Delay a Vote on Gina McCarthy: http://t.co/lNQYmJAB12 #EPA
May 13, 2013 12:02 PM
taxreformer -
The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
May 13, 2013 11:30 AM
taxreformer
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ATR Energy Tax Hike Series: Obama 2012 Budget Analysis
Download the full paper here
Obama Energy Tax Proposals:
The President’s FY 2012 budget contains hundreds of billions of dollars worth of new taxes on energy production and consumption. These taxes will result in higher prices at the pump, increased utility bills and fewer American energy jobs as companies flee the U.S. to avoid these industry-crippling taxes. Click on each subject for a complete breakdown of some of the energy taxes Obama supports:
| Tax Increase | FY 2012 | FY 2012-2021 | Industry Impact |
| Increase Amortization Period | $59 million | $1.4 billion | $1.4 billion |
| Dual Capacity | $535 million | $10.8 billion | $10.8 billion |
|
~Oil and Natural Gas ~Hard Minerals |
$607 million $78 million |
$11.2 billion $1.35 billion |
$11 billion $1.35 billion |
|
and Expensing of Exploration Costs: ~Oil and Natural Gas ~Hard Minerals |
$1.9 billion $78 million |
$12.4 billion $1.35 billion |
$12.4 billion $1.35 billion |
|
~Oil and Natural Gas ~Hard Minerals |
$902 million $20 million |
$18 billion $410 million |
$18 billion $410 million |
| Repeal Tertiary Injectants | $6 million | $92 million | $92 million |
| Superfund | $1.4 billion | $20.8 million | $10 billion |
| LIFO | $2.6 billion* | $52.9 billion | $22.5 billion |
| Passive Loss | $23 million | $203 million | $200 million |
| Oil Spill Liability Trust Fund | $35 million | $451 million | $451 million |
Include repeal of the Marginal Well and Enhanced Oil Recovery tax credits, and you have an energy tax increase of over $90,000,000,000 by 2021!
ATR Recommendations:
Congress should fight these new tax increases, and move to rapidly increase access to domestic energy resources in the Eastern Gulf of Mexico, part of the Rocky Mountains, the Atlantic and Pacific Outer Continental Shelves, and ANWR. Among the results of increased access would be:
• The immediate creation of 50,000 direct and 120,000 indirect jobs by 2014
• The addition of 150,000 direct and 380,000 indirect jobs by 2025
• An additional 4 million barrels of oil equivalents per day brought online by 2025
• An increase in government revenues of $20 billion by 2020, and $150 billion by 2025
