[thackney]

In 2007 ExxonMobil made $40.6 Billion in Profit.

They paid $105.7 Billion in Taxes.

Income Taxes - $29.9B
Sales Based Taxes - $31.7B
All Other Taxes - $44.1B
Total Taxes - $105.7 Billion

http://www.exxonmobil.com/corporate/files/corporate/news_release_earnings4q07.pdf

I don’t consider profits of 10¢ on the dollar excessive. Business exist to make money or they would not exist.

But I do consider taxes 260% higher than profit very excessive. What other industry pays taxes at that rate?

I doubt any other industry could afford the oil industry's current rate of "subsidies".

[Alberta's Child]

I agree with you, but I’d be curious to see what is included in the largest line item in that list (”All Other Taxes”). Do royalties paid to the government for extraction operations on public land get counted with this?