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(Fox News)   That's not how this works, that's not how any of this works   (foxnews.com) divider line
    More: Stupid, Public utility, Tax Cut, utility companies, utility bills, President Biden's home state, rate cut, Delaware Public Service Commission, corporate tax rate  
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4013 clicks; posted to Politics » on 11 Jun 2021 at 2:05 PM (10 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-06-11 10:53:20 AM  
Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus
 
2021-06-11 1:19:49 PM  
"power bills"

As in: the bills we pay to those in power?

/Yup
 
2021-06-11 2:08:40 PM  
Oooga booga!
 
2021-06-11 2:08:43 PM  
Fark user imageView Full Size
 
2021-06-11 2:10:20 PM  
Republicans always lie.
 
2021-06-11 2:10:42 PM  

Byno: Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus


In other words you are defending trickle down economics.
 
2021-06-11 2:11:39 PM  

Byno: Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus


When you get a chance, could you provide some examples of utilities passing along lower utility prices to their customers after they've received corporate tax cuts?
 
2021-06-11 2:11:43 PM  

Byno: Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus


Please show your work on how the corporate tax cuts were passed on to consumers through lower prices.
 
2021-06-11 2:12:17 PM  
aleister_greynight:
In other words you are defending trickle down economics.

No, in other words, you're an idiot, and you disliking reality should be a function of the fundy nut jobs on ClownHall, not this website.  Go over there.
 
2021-06-11 2:13:13 PM  

aleister_greynight: Byno: Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus

In other words you are defending trickle down economics.


ONE MORE TAX CUT FOR BILLIONAIRES AND IT WILL START WORKING! WE'RE SO CLOSE!
 
2021-06-11 2:13:20 PM  

Byno: aleister_greynight:
In other words you are defending trickle down economics.

No, in other words, you're an idiot, and you disliking reality should be a function of the fundy nut jobs on ClownHall, not this website.  Go over there.


Your argument is less convincing since you've provided no evidence and have called everyone else "idiots."
 
2021-06-11 2:14:05 PM  
"We can't raise rates or they'll charge more!"
Okay.  Did they lower prices when rates went down?
"..."
 
2021-06-11 2:14:16 PM  
ITT, people who think price is set by how much money you'd like to make.
 
2021-06-11 2:14:29 PM  

BunkyBrewman: Byno: Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus

When you get a chance, could you provide some examples of utilities passing along lower utility prices to their customers after they've received corporate tax cuts?


If only there weren't example after example in the article.  If only.  If only the utilities themselves didn't send rate letters to customers, including yours truly, that they were giving customers break on their power bills.  If only.

As i said, you not liking reality because it doesn't comport to your political philosophy doesn't make you right; see Reason, ClownHall, The Federalist, RealClearPolitics, etc.
 
2021-06-11 2:14:40 PM  
The comments on that article.. I'm at a loss for how we ever bring these brainwashed Americans back
 
2021-06-11 2:15:13 PM  

imaconnect4guy: Byno: aleister_greynight:
In other words you are defending trickle down economics.

No, in other words, you're an idiot, and you disliking reality should be a function of the fundy nut jobs on ClownHall, not this website.  Go over there.

Your argument is less convincing since you've provided no evidence and have called everyone else "idiots."


Did you read the article.  It's literally in the article.  It's right there.  In the article.  I'm not reading for you.  I'm not doing work for you.  Read. it. yourself. Galaxy. Brain.
 
2021-06-11 2:15:16 PM  

Byno: /I need a shower for having to defend a Fox News article that happens to be accurate


The problem is that it isn't really accurate. Correlation does not equal causation at all times. I mean, the simplistic view is "HURR DURR BIDEN GAS PRICE HIGHER THAN TRUMP, DERP!" but it really isn't higher by much and that has absolutely nothing to do with tax cuts. All of those items you listed, like rate cuts or rates staying the have many external factors of much higher importance than tax cuts. One big one would be commodity pricing, which natural gas and oil have had a lot of price pressure downward before the pandemic.

So yeah, call a Faux Newz story accurate. Tangentially, if you look at it from an oblique enough angle, they might be approaching reality. Truth be told, however, reality isn't intersecting where they're claiming, not even close.
 
2021-06-11 2:15:28 PM  

tbhouston: The comments on that article.. I'm at a loss for how we ever bring these brainwashed Americans back


We're not.  But the article isn't wrong.
 
2021-06-11 2:15:38 PM  

Byno: Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus



I find the issue is in this misleading wording:

State public utility commissions must consider how tax liability factors into cost of operation for public utility companies.

Allow me ot make a correction:

State public utility commissions must consider how tax liability factors into cost of operation for public utility companies privately held energy companies.


A real public utility is just that, part of the public, pays no taxes back to itself. The IRS does not pay taxes back to the fed for the work they do that brings money in.
The FBI does not pay taxes back to the fed on the money it receives as operational budget.

The taxes are because it is in fact NOT a real public utility as the bi line claims. It is in fact a privately held and so taxed private busienss.
 
2021-06-11 2:15:59 PM  

inglixthemad: So yeah, call a Faux Newz story accurate. Tangentially, if you look at it from an oblique enough angle, they might be approaching reality. Truth be told, however, reality isn't intersecting where they're claiming, not even close.


Except for all the examples you're totally right!
 
2021-06-11 2:17:44 PM  
yeah per this report all they did was pocket the majority of the cuts [shocked face]

https://publicintegrity.org/inequalit​y​-poverty-opportunity/taxes/trumps-tax-​cuts/trump-tax-law-utility-bills/

FTA
"But the assertion turns out to be only partially true. Utility bills have dropped, but by a negligible amount, ranging from less than a dollar a month for the average residential customer in Hawaii to about $14 for the same group in Florida"
 
2021-06-11 2:17:50 PM  
Relax, Fox News, the corporate tax hike ain't happening.

Biden offers major change in tax proposal in effort to lure Republicans on infrastructure plan - The Washington Post

"President Biden signaled at a private meeting on Wednesday that he would be open to significant revisions on the size of his infrastructure package and how it would be paid for in order to win Republican support, outlining a plan for about $1 trillion in new spending financed through tax changes that do not appear to raise the top corporate rate...

In his meeting with the GOP's top negotiator, Sen. Shelley Moore Capito (R-W.Va.), Biden raised the possibility he could take the proposed rate increase off the table in an attempt to broker a compromise, according to a person familiar with the talks who spoke on the condition of anonymity to describe them. The president still intends to seek the tax increase, the source said, meaning the White House could pursue the policy outside of the infrastructure debate - or in the case that bipartisan negotiations ultimately collapse."


Not sure how that underlined part makes sense with what comes before but I imagine it's just sophistry.

That tax rate will go up to 24% maximum.  Or may not move at all.
 
2021-06-11 2:18:15 PM  
RIF
Public Advocate requesting a reduction in Delmarva rates as a result of savings realized by the company due to the federal Tax Cuts and Jobs Act enacted last fall. The petition was bolstered by a collection of supportive public comments, including a letter signed by 38 Delaware state legislators led by representatives John Kowalko and Kimberly Williams.
 
2021-06-11 2:18:36 PM  

DarnoKonrad: ITT, people who think price is set by how much money you'd like to make.


When it comes to natural monopolies like utilities... yeah, kinda.

There's usually a corporation commission or something that has say in the matter, but often as not they're populated with corporate stooges.
 
2021-06-11 2:18:38 PM  
Fark user imageView Full Size
 
2021-06-11 2:22:52 PM  

Byno: BunkyBrewman: Byno: Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus

When you get a chance, could you provide some examples of utilities passing along lower utility prices to their customers after they've received corporate tax cuts?

If only there weren't example after example in the article.  If only.  If only the utilities themselves didn't send rate letters to customers, including yours truly, that they were giving customers break on their power bills.  If only.

As i said, you not liking reality because it doesn't comport to your political philosophy doesn't make you right; see Reason, ClownHall, The Federalist, RealClearPolitics, etc.


Did they?  Maybe some did, but my power utility never cut my rates or sent me any letter saying they were doing so.  In fact, my rates went up this year because of that major winter storm that went through the Midwest and Texas.
 
2021-06-11 2:23:07 PM  

BunkyBrewman: Byno: Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus

When you get a chance, could you provide some examples of utilities passing along lower utility prices to their customers after they've received corporate tax cuts?


It was literally spelled out in the article.

Delaware is one of at least 38 states to pass along the corporate tax rate cut to customers, according to data compiled by Americans for Tax Reform. That includes the current president's birth state, where the Pennsylvania Public Utility Commissionannounced in 2018 a monthly credit to customer bills for 17 electric, natural gas, and water and wastewater utilities, totaling more than $320 million.

Higher costs mean higher prices. The price of supplies in my business went up, so I raised prices in my office.  That's just economics. I'm not going to eat the higher cost and reduce my income.
Now, I'm not saying we shouldn't raise taxes on corporations. They have to pay their fair share. But don't expect prices to stay the whenever taxes increase. Someone will be eating the increased cost, and it's usually the consumer.
 
2021-06-11 2:25:01 PM  

aleister_greynight: [Fark user image image 334x500]


pbs.twimg.comView Full Size
 
2021-06-11 2:26:02 PM  

Byno: inglixthemad: So yeah, call a Faux Newz story accurate. Tangentially, if you look at it from an oblique enough angle, they might be approaching reality. Truth be told, however, reality isn't intersecting where they're claiming, not even close.

Except for all the examples you're totally right!


What? So my investment adviser is wrong telling me you can barely give coal away? I can look and see that natural gas is still low cost on spot pricing compared to even 1990 cost, and that oil is still lower per barrel than early 1980's or 2008 or so. I mean, what did tax cuts do here that lower commodity prices haven't done already?

You might want to check in with reality every so often, especially inflation adjusted cost reality, because it's not looking good for your argument.
 
2021-06-11 2:27:04 PM  

JesseL: DarnoKonrad: ITT, people who think price is set by how much money you'd like to make.

When it comes to natural monopolies like utilities... yeah, kinda.

There's usually a corporation commission or something that has say in the matter, but often as not they're populated with corporate stooges.


Even in that case, typically, the rate increase needs to approved by a regulatory body of some kind.  It simply doesn't follow that rate hikes are a natural extension of tax policy.  Nor does it follow that windfalls being giving back to consumers necessarily means the inverse is equally true.


Or to put it another way, if you live in a shiatty red state that treats people like garbage maybe Fox is correct.
 
2021-06-11 2:27:45 PM  

Bovine Diarrhea Virus: BunkyBrewman: Byno: Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus

When you get a chance, could you provide some examples of utilities passing along lower utility prices to their customers after they've received corporate tax cuts?

It was literally spelled out in the article.

Delaware is one of at least 38 states to pass along the corporate tax rate cut to customers, according to data compiled by Americans for Tax Reform. That includes the current president's birth state, where the Pennsylvania Public Utility Commissionannounced in 2018 a monthly credit to customer bills for 17 electric, natural gas, and water and wastewater utilities, totaling more than $320 million.

Higher costs mean higher prices. The price of supplies in my business went up, so I raised prices in my office.  That's just economics. I'm not going to eat the higher cost and reduce my income.
Now, I'm not saying we shouldn't raise taxes on corporations. They have to pay their fair share. But don't expect prices to stay the whenever taxes increase. Someone will be eating the increased cost, and it's usually the consumer.


Now click on the data link you've provided.  it's shows zero data and only the same farking sentence repeated for all 50 states.

Biden Corporate Tax Rate Hike Will Raise Your Utility Bills
Fark user imageView Full Size

Posted by John Kartch on Friday, June 4th, 2021, 11:02 AM PERMALINK

ALABAMA
Alabama Residents Will Get Stuck with Higher Utility Bills Due to Biden Corporate Tax Rate Hike https://www.atr.org/alabama-resi​dents-​will-get-stuck-higher-utility-bills-du​e-biden-corporate-tax-rate-hike
ALASKA
Alaska Residents Will Get Stuck with Higher Utility Bills Due to Biden Corporate Tax Rate Hike https://www.atr.org/alaska-resid​ents-w​ill-get-stuck-higher-utility-bills-due​-biden-corporate-tax-rate-hike
ARIZONA
Arizonans Will Get Stuck with Higher Utility Bills Due to Biden Corporate Tax Rate Hike https://www.atr.org/arizonans-wi​ll-get​-stuck-higher-utility-bills-due-biden-​corporate-tax-rate-hike
COLORADO
Colorado Residents Will Get Stuck with Even Higher Utility Bills Due to Biden Corporate Tax Rate Hike https://www.atr.org/colorado-re​sidents​-will-get-stuck-even-higher-utility-bi​lls-due-biden-corporate-tax-rate-hike

CONNECTICUT

Connecticut Residents Will Get Stuck with Even Higher Utility Bills Due to Biden Corporate Tax Rate Hike https://www.atr.org/connecticut-​reside​nts-will-get-stuck-even-higher-utility​-bills-due-biden-corporate-tax-rate-hi​ke
DELAWARE
Delaware Residents Will Get Stuck with Even Higher Utility Bills Due to Biden Corporate Tax Rate Hike https://www.atr.org/delaware-res​idents​-will-get-stuck-even-higher-utility-bi​lls-due-biden-corporate-tax-rate-hike
GEORGIA
Georgia Residents Will Get Stuck with Higher Utility Bills Due to Biden Corporate Tax Rate Hike https://www.atr.org/georgia-resi​dents-​will-get-stuck-higher-utility-bills-du​e-biden-corporate-tax-rate-hike
IDAHO
Idaho Residents Will Get Stuck with Higher Utility Bills Due to Biden Corporate Tax Rate Hike https://www.atr.org/idaho-reside​nts-wi​ll-get-stuck-higher-utility-bills-due-​biden-corporate-tax-rate-hike
 
2021-06-11 2:28:09 PM  

Byno: tbhouston: The comments on that article.. I'm at a loss for how we ever bring these brainwashed Americans back

We're not.  But the article isn't wrong.


Naww lol
 
2021-06-11 2:31:07 PM  

Byno: aleister_greynight:
In other words you are defending trickle down economics.

No, in other words, you're an idiot, and you disliking reality should be a function of the fundy nut jobs on ClownHall, not this website.  Go over there.


images.idgesg.netView Full Size
 
2021-06-11 2:31:08 PM  

BunkyBrewman: ARIZONA
Arizonans Will Get Stuck with Higher Utility Bills Due to Biden Corporate Tax Rate Hike https://www.atr.org/arizonans-wil​l-get-stuck-higher-utility-bills-due-b​iden-corporate-tax-rate-hike


A lot of us have already gone solar. So, bring it.

How the fark can anyone consider this an increase in the Corp Tax rate anyway?


Fark user imageView Full Size
 
2021-06-11 2:31:35 PM  
To be faiiiiir...

Here in SE WI We Energies (Weenergies!) does give us a credit because of the 2017 tax breaks they got.  It's literally line item listed as "Tax cuts and jobs act of 2017 credit" on my bill.

To be faiiiirer...

The credit has been in the whopping $1.50-$2.00 range per bill, saving me TENS of dollars annually.

So, in my case, yes, faux news is correct.  If they repeal the tax credit, my bill will probably go up.  By about $25.  Per YEAR.  True as in 25 is more than zero, but not exactly a "we can't afford electricity anymore, thanks Biden!" scenario.

To be faiiirest..

On the other hand, if Biden reinstates the SALT deduction that Trump took away, I could claim the approximately three THOUSAND dollars I pay in state and local taxes yearly, saving me at least $3-400.  So if Biden raises taxes, I save money.
 
2021-06-11 2:31:37 PM  

Byno: BunkyBrewman: Byno: Yes subby, that's exactly how it works (worked):  many utilities decided to pass corporate tax cuts along to customers to lower utility prices and/or offset price increases.  Take away the tax cuts, guess what they'll do?

Very often corporate tax cuts don't make their way down to consumers, or, as expected, only make them down fractionally given all sorts of cross currents.  News at 11.  But, in this case, they did, and a reversal means they won't.  In the overall public policy scheme of things what is the net/net impact?  No clue. But, if your thesis is that corporate tax cuts didn't benefit utility consumers, You're. That. Guy.

/I need a shower for having to defend a Fox News article that happens to be accurate
//just because economics doesn't work the way you want doesn't make you right, doofus

When you get a chance, could you provide some examples of utilities passing along lower utility prices to their customers after they've received corporate tax cuts?

If only there weren't example after example in the article.  If only.  If only the utilities themselves didn't send rate letters to customers, including yours truly, that they were giving customers break on their power bills.  If only.

As i said, you not liking reality because it doesn't comport to your political philosophy doesn't make you right; see Reason, ClownHall, The Federalist, RealClearPolitics, etc.


You didn't click on the links, did you?
 
2021-06-11 2:32:21 PM  
Revenue is 10.
Expenses are 6.
Gross Profit is 4.
Taxes are 25% of gross profit, or 1.
Net profits are 3.

The argument with trickle down taxes is if you change the percentage between gross and net profits that it will somehow impact revenue or expenses. Sorry, but the world doesn't work that way. Turning taxes to 10% won't change revenue.

Economics tell us that firms will always seek to maximise profits, which is done by producing and selling as much as possible until you hit the point where marginal revenue equals marginal cost. Taxes on profit have nothing to do with that calculus.

Now, if you want to talk about tax cuts which do impact gross profit, we can do that. It's called sales tax. If you cut that, working people will be able to afford more goods, thus increasing the revenue line.
 
2021-06-11 2:33:16 PM  

Gin Buddy: How the fark can anyone consider this an increase in the Corp Tax rate anyway?


The nominal rate is meaningless as a basis of comparison.  The effective rate is the thing that matters.
 
2021-06-11 2:34:06 PM  

inglixthemad: Byno: inglixthemad: So yeah, call a Faux Newz story accurate. Tangentially, if you look at it from an oblique enough angle, they might be approaching reality. Truth be told, however, reality isn't intersecting where they're claiming, not even close.

Except for all the examples you're totally right!

What? So my investment adviser is wrong telling me you can barely give coal away? I can look and see that natural gas is still low cost on spot pricing compared to even 1990 cost, and that oil is still lower per barrel than early 1980's or 2008 or so. I mean, what did tax cuts do here that lower commodity prices haven't done already?

You might want to check in with reality every so often, especially inflation adjusted cost reality, because it's not looking good for your argument.


What if I told you electricity prices and commodity prices aren't especially correlated?  Wouldn't that be weird as hell? Moreover, what if I told you a one off tax break created a one off consumer rate cut for some consumers, but only as a one off?  So weird!

It's almost as if one of us possesses reading comprehension and the other doesn't!

Me: Fox is wrong almost always and this tax thingy didn't really benefit consumers the way it would have given perfectly elastic markets but it's pollyannish to say utilities won't pass corporate tax increases through to consumers in some fashion.
This thread: sekrut trickle down lover!

/get a new FA; here's graph on the price of coal: https://tradingeconomics.com/co​mmodity​/coal
 
2021-06-11 2:34:30 PM  

Byno: aleister_greynight:
In other words you are defending trickle down economics.

No, in other words, you're an idiot, and you disliking reality should be a function of the fundy nut jobs on ClownHall, not this website.  Go over there.


Fark user imageView Full Size
 
2021-06-11 2:34:31 PM  
And as a Pennsylvanian, I didn't see jackshiat in lower energy bills.  The cost per kWH varies seasonally and was never ever lower than the previous year.

Looking at my bills, there was no farking discount or rebates.  In fact, we've been demonstrably using less energy over the past several years and our PECO (a Pennsylvania utility company we get gas and electric service from) bill has gone up incrementally over that time.  Weird how that works.  /s
 
2021-06-11 2:35:11 PM  

Latinwolf: Byno: aleister_greynight:
In other words you are defending trickle down economics.

No, in other words, you're an idiot, and you disliking reality should be a function of the fundy nut jobs on ClownHall, not this website.  Go over there.

[images.idgesg.net image 850x566]


All I have to do is replace a few buzzwords on this thread with a TownHall and it's the same thread.  But, sure, it's me who is projecting.
 
2021-06-11 2:36:15 PM  

aleister_greynight: Byno: aleister_greynight:
In other words you are defending trickle down economics.

No, in other words, you're an idiot, and you disliking reality should be a function of the fundy nut jobs on ClownHall, not this website.  Go over there.

[Fark user image 750x585]


You think you presented a compelling argument.  What you actually did was say something vapid. That's the diffference.
 
2021-06-11 2:37:46 PM  

Byno: aleister_greynight: Byno: aleister_greynight:
In other words you are defending trickle down economics.

No, in other words, you're an idiot, and you disliking reality should be a function of the fundy nut jobs on ClownHall, not this website.  Go over there.

[Fark user image 750x585]

You think you presented a compelling argument.  What you actually did was say something vapid. That's the diffference.


Projecting, eh?
 
amb
2021-06-11 2:39:58 PM  
I really don't see how an income tax rate hike effects the operation of the utility, other than disrupting the dividends distributed to the owners. They are not taxed on revenue, but on the net profit after the costs and expenses. Now if the utility is able to get a rate hike to continue to deliver the same return to the investors, then the cost has been passed to the customers. Same with if income taxes go down, the owners/investors can take a larger dividend, reinvest the extra profits, sit on the cash, or reduce their prices. Those tax changes have no effect on the cost of goods sold. More likely is the drop in natural gas prices gave them an opportunity to reduce rates, but the timing coincided with the tax cuts and some decided to say that was the reason.
 
2021-06-11 2:40:23 PM  
I look forward to Byno's post where he tells us that tax cuts actually raise government revenues.
 
2021-06-11 2:41:03 PM  
This is not wrong.  Usually rates are set to allow the companies to get a certain profit margin.  If the tax hikes lower that profit margin, the utility commission might allow the power company to charge a higher price to get to that margin.  It wouldn't be a big hike, though, probably just a few percent.
 
2021-06-11 2:42:00 PM  
What's Fox derping about now?
 
2021-06-11 2:42:03 PM  

Gin Buddy: BunkyBrewman: ARIZONA
Arizonans Will Get Stuck with Higher Utility Bills Due to Biden Corporate Tax Rate Hike https://www.atr.org/arizonans-wil​l-get-stuck-higher-utility-bills-due-b​iden-corporate-tax-rate-hike

A lot of us have already gone solar. So, bring it.

How the fark can anyone consider this an increase in the Corp Tax rate anyway?


[Fark user image 750x840]


Honestly I've been thinking about that for some time now.  Just not ready for that upfront investment to purchase and really don't like the idea of leasing equipment for almost as long as a mortgage.
 
2021-06-11 2:43:32 PM  

whidbey: What's Fox derping about now?


Trickle down economics, same as always.
 
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