Skip to comments.Exxon-Mobil Paid $3 in Taxes for Every $1 of Profit
Posted on 05/01/2008 5:32:25 PM PDT by drbasketball
In the first quarter, Exxon-Mobil earned $10.9 billion, but at the same time paid a total of $29.3 billion in taxes...
(Excerpt) Read more at nationaleconomist.com ...
Well then OBVIOUSLY Schumer was right - ExxonMobil should also pay the Federal Tax on gas this summer since they still have some money left!
The libs will say that this is not enough. They won’t be happy until the oil companies don’t make any profit. Of course, that would mean no gas for their cars but who said libs had smarts.
The only “gouging” going on is the feds/state/local taxes on oil based products.
How were the taxes utilized?
After all, Exxon-Mobile if having the funds and freedom to use them would certainly created many new domestic job's in their quest to make more profit if not restricted in doing so.
ever heard of Pemex?
Hmmm...who’s doing the gouging here...I don’t believe corporations PAY taxes, I think they COLLECT them...
Are they including payroll taxes, property taxes, etc.? Every company has to pay those.
If the article was trying to drum up sympathy for the oil companies, I'm not buying it.
They're playing us like an effin' fiddle, just like Big Entertainment, Big Agriculture, etc. The creation of new jobs comes from small companies, and they're getting screwed with the rest of us.
don’t tell anyone!
We have too many people running around with “Class Envy”,
“Global Warming..we’re all gonna die!” and “It’s not Marxism..it’s Fairness!”
rollin’ around in their brains and it’s become part of their persona.
PLEASE DO NOT CONFUSE EMOTIONS WITH “FACTS”!!
It really upsets the mushy middle!
Now stop it!
You are making Pavlov’s Dogs Public feel bad.
It’s not fair!
Uh-oh. Someone ought to tell that socialist sh!t Bernie Sanders about that.
You seem to be really into the class warfare and envy bidness.
Corporations do pay taxes on their profits.
Those taxes are passed onto the consumers in the form of higher prices.
So yes, we do pay for them in the long run
And one will be gouged without option or go to jail while looking for a better price.
And the Dems have the gall to demand “excess profits” from the oil companies that have to spend many billions in exploration and production of this vital natural resource. Meanwhile, the government produces absolutely nothing but incompetence and disgust.
Exxon should insist that the government pay back Exxon’s excess taxes.
Read the article. Gross sales were 116 billion for the first quarter. That is about an 2% profit margin. Tis is a stock held company. The largest number of stock holders are civil servants who pay income tax on their dividends. This means that the government is collecting double taxation on these profits. Raise that 3 to 1 to about 5 to 1 and you are getting closer to understanding the fundamental corruption of the tax system.
Precisely what I said...maybe I could have phrased it better...
Hillary wants to take their profits and invest them in green energy. So she says.
I don’t like high gas prices either, but the prices we’re seeing come back to supply and demand. Supply is artificially restricted because we can’t drill offshore or in Alaska. Demand keeps growing world wide, not just in the US. Supply is artificially restricted because we’re not allowed to build new refineries, so output of gasoline is restricted. And on it goes.............
To listen to Hillary and others, you get the impression that they don’t understand economics. Yet they think they will “manage” the economy.
What the press doesn’t tell you is that 95% of those profits are put back into the ground. Go to their website—it is really interesting to note what their net profits were and compare that to their drilling budget. They are doing the unappreciated service of trying to increase America’s reserves as best that they can. As an example, my little company had record profits this year—and guess what, we borrowed money to drill with. That cash is not stuck in shareholders pockets.