Cheap Gas

waldo

waldo

House Member
Oct 19, 2009
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Walter said:
Tanked for 78.6 yesterday. Down 20 cents since this thread started 6 weeks ago. Way to go Stevie.
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so when oil reaches record highs... just what do you say to "Stevie"? C'mon Walter, $48 oil, a falling petro dollar..... oops! ... there goes the much ballyhooed surplus for the petro-economy Harper has pegged Canada with!

 
JLM

JLM

Hall of Fame Member
Nov 27, 2008
75,301
548
113
Vernon, B.C.
Tecumsehsbones said:
Are you sure? The reason I ask is that down here, that would be called a "deduction." A deduction is taken off your gross income to produce your taxable income. A "credit" comes off your actual tax bill.

Example: Income (or for corporations, profit) - $200,000

Deductions - $50,000

Taxable income - $150,000

Tax on taxable income - 30% - $45,000

Tax credit - $15,000

Taxes owed - $30,000

Not saying you're wrong, we could use different terms. Just checking. In Canada, are "credits" taken off gross revenues, profits, or the actual tax bill?
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I don't really know f**k all about it except for doing my income tax for about 55 years, I'd say you are right. Regardless that's the way it would work going by common sense! (But who in Ottawa and Washington has that?)


Waldo might be the guy to ask about that, as he knows everything else. :)

Kreskin said:
Celsius is O degrees freezing 100 degrees boiling. More perceptible than 32 degrees freezing and 212 degrees boiling.
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Before we went to metric everyone (mostly) was comfortable with 32F for freezing 68F for room temperature 98.6F for body temperature and 212F for boiling (at sea level) We never had a problem with that. Then the genius Trudeau changed all that and millions of sets of tables, recipe books and thermometers went in the garbage can. Today when we are at the hospital and I ask them what my temperature they generally quote me the Fahrenheit figure, when I go to pick up a load of gravel, they quote me the price per yard, studs and rafters are installed on 16" centres, so where has all this bull sh8t gotten us? Originally the metre was thought to be 1/10 millionth of the distance from the equator to the pole, but lately they've found out that is wrong. Just one big f**king boondoggle costing billions and generated by a bunch of useless politicians. Some genius figured if we put sugar in 10k bags, it would be more suitable for foreigners. They couldn't savvy putting 22 lbs. of sugar in the bag and writing 10 k on the bag. Twits!
 
Walter

Walter

Hall of Fame Member
Jan 28, 2007
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waldo said:
so when oil reaches record highs... just what do you say to "Stevie"? C'mon Walter, $48 oil, a falling petro dollar..... oops! ... there goes the much ballyhooed surplus for the petro-economy Harper has pegged Canada with!

Click to expand...
Post when it gets there.
 
MHz

MHz

Time Out
Mar 16, 2007
41,030
43
48
Red Deer AB
Oil has a habit of making up for it when more people are out driving. Factor in winter mpg to summer mpg using $.75/ltr and $1.50/ltr and factor that in for Canada and 150M Americans (add in a extra month as winter came 30 days earlier than normal)
 
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