Close the tax loop-pole to MLP and LP's and limit the amount the rich can write off in tax free dividends to $99k including tax free muni bonds. In exchange eliminate the AMT. Close the give-away subsidies to everyone including big oil. Eliminate PAC's and have a level playing field for elections. Now the person with the biggest amount of money and TV ad's get elected.
CONGRESS VOTE "NO MORE OIL SUBSIDIES"
NO PAC $$$$ allowed to influence elections in the laws too. "Campaign REFORM".
MLP and LP double tax loop-pole closed. Keep the muni tax free only (for local and state governments but limit the amount of tax free income to 99k)
Do away with the AMT as part of the deal.
Use that money instead to create jobs and eh=nergy independence by:
1)Promote clean air vehicles electric and hydrogen (including natural gas conversion kits and a nat gas pump at every filling station).
2)STOP EXPORTS of our USA natural gas NOW.
NO EXPORTS of energy coal or gas out fo the USA.
3)Use clean coal technology to produce liquid gas for cars at $1.10 per gallon.
4)Promote the Capstone Turbine car (80 mpg) "google it" and burn nat gas in it. Join up with the Clean Energy Co. and the T. Boone Pickens plan.
Stop companies like LNG from shipping our natural gas to Asia. Just say NO to your congress and senate.
Taxi cabs in Vegas and now UPS trucks are using nat gas.
There is no tax loophole. All income from MLPs ends up being taxed at top ordinary income rates unless the holder dies in which case his beneficiary gets a step up in tax basis. Otherwise tax may be deferred buy it is always recaptured on sale.
"2)STOP EXPORTS of our USA natural gas NOW."
It would be hard to stop something which hasn't started. There is no export infrastructure and isn't any even under construction at this point.
lng just signed contract to export but structure not in place to export / import only at current... let the freemarket decide where our energy production is sold, sell it to the highest bidder... just keep govt out of it, reduce regulation and increase domestic profits and jobs.
Cheniere Energy Partners (AMEX: CQP ) , subsidiary of Cheniere Energy (AMEX: LNG ) , is officially a force to be reckoned with in the liquefied natural gas export game. Though the company has yet to begin construction on its Cameron Parish, La., facility, it has secured a 20-year export contract, and the future is bright. (from yahoo lng news board)
agree w/ alot of what you're pushing but... i'm a firm believer of ending all income (corp & individual) income tax as well as cap gains an replacing w/ a federal sales tax (fair tax)... we can debate what that rate should be and if a lower rate should be placed on essentials that we all use... and for the export of our energy, be it coal, ng or even oil, well, that should not be tampered w/ by the gov't, freemarket should be able to dictate where that energy goes, sell it to the highest bidder and let the domestic producers maximize profits... the freemarket is the way to go, regulation is choking this country slowly as is the tax system.
minimize gov't and it's influence on the free market and you will maximize profits and the domestic economy