The Senate tax bill would allow oil drilling in Alaskan wilderness

[Stephen + 67]

http://money.cnn.com/2017/12/03/news/economy/murkowski-senate-tax-bill-alaska-wildlife-oil-drilling/index.html

I love then they say that the tax cuts will help middle class. There is no middle class in US anymore

 

[JohnAtronis + 78]

both Republican and Democrats are for drilling there. First time they agreed on something

[Rodent + 1,424]

9 minutes ago, Stephen said:

http://money.cnn.com/2017/12/03/news/economy/murkowski-senate-tax-bill-alaska-wildlife-oil-drilling/index.html

I love then they say that the tax cuts will help middle class. There is no middle class in US anymore

 

hmmm... I think by definition, there must be a middle class, statistically speaking. Someone's gotta fall in the middle of the pack. In Michigan, the 2015 threshold for middle class is between $32K and $96K. The range for MC is a rather arbitrary determination and one not set by the federal government, so it's easy to say "the middle class doesn't exist" but by any mathematical standards, the "middle" must exist (although it may fluctuate as the extremes fluctuate). 

The rough definition of middle class in many citations is 67%-200% of the average median income. But regardless of where you set the band, there will always be a "middle", and therefore, a middle class.  I think the argument is that the extremes are farther apart, and there are not many in the middle, but that's really not so.

Take my homestate. Median household income in Michigan as of 2016 had reached around $52K according to the US Census Bureau. By definition, half the people in michigan fall below that level, and half above. 23% of the people make under $25K, 24% make between $25K and $50K. 19% make between $50K and $75K, and 12% make between $75K and $100K, and 22% make over $100K. Using the 67% to 200% of the median,  we have at least 41% in the middle class definition, and likely a significant number from nearby bands as well. The middle class is by far larger than the bottom and top classes.

[Stephen + 67]

According to your numbers, looks to me that middle class is not more than survivalist class nowadays

 

 

 

[Petar + 76]

In one of the dialogues about tax cuts I've read: 

If you can afford a private jet, you don’t need a tax cut. If you’re making over $1 million per year, you don’t need a tax cut.

You need to budget like the rest of us

[Rodent + 1,424]

56 minutes ago, Stephen said:

According to your numbers, looks to me that middle class is not more than survivalist class nowadays

 

 

 

Almost everyone I know is in that bracket. Doing just fine.

[Meanwhile + 49]

Alaska is an oil-dependent welfare state that collapses whenever the price of oil dips, so of course they want to open every inch of the state for drilling even if it doesn't make any economic sense. This Senate bill and the idea of drilling in the refuge is joke since no oil company actually wants to drill in this remove, expensive place.

[JohnAtronis + 78]

This is just sad, lets destroy more wildlife to make a few more dollars. And all the people saying drill baby drill will never see a dime. They are still hoping for $1 per gallon. Not gonna happen. MAGA

 

 

[Joanna + 68]

Is this person just silly? We are now beyond the tipping point for CO2 in the atmosphere. We NEED TO GO GREEN. Just google Senator Murkowski donors. Nothing original here. Without the donations of special interest groups working against the public interest, politicians would have to work for a living.

 

 

[JohnAtronis + 78]

The House has designed the tax bill to make it look like it is helping low- and middle-class Americans by providing a majority of them with small tax cuts next year, which just happens to be an election year. Those tax breaks, however, gradually diminish over the next 10 years, when many middle-class Americans will find themselves in a higher tax bracket — by design.

Conversely, during that same 10-year span wealthy Americans will end up with much higher percentage of tax breaks.

[Joanna + 68]

A lease sale for oil and gas drilling rights in Alaska — deemed the largest-ever there by the Trump administration — produced bids for only 7 tracts of land and garnered only $1.16 million in revenue

[Rodent + 1,424]

Conoco and Anadarko made a clean sweep. Conoco was also the big winner last year at the NPR-A auction. I don't think oil prices are high enough to warrant the high cost of exploration here, and in light of tough regulations and environmental backlash, thus the general disinterest. If prices rise, I would expect more players to visit this option. 

[Stephen + 67]

talking about Alaska....Former vice presidential nominee Sarah Palin’s son, Track, was arrested last weekend after he allegedly beat his father at his parents’ home

[Kate Turlington + 44]

On 12/7/2017 at 10:57 AM, Rodent said:

Conoco and Anadarko made a clean sweep. Conoco was also the big winner last year at the NPR-A auction. I don't think oil prices are high enough to warrant the high cost of exploration here, and in light of tough regulations and environmental backlash, thus the general disinterest. If prices rise, I would expect more players to visit this option. 

I also think this is all a big fat red-herring. Even passed, it's all going to be a huge, drawn-out battle with legal challenges at every corner. It would take years just to muddle through everything that will rain down on them over this.