As of the 3rd qtr 2006 Exxon/Mobile made approximately 51 billion dollars, they paid approximatelty 22 billion of this in Corporate income tax net profit of approx 29 billion.If they were taxed at a higher rate wouldn't they just increase the price of oil in order to make up for it?
2007-02-14 23:33:27 · 5 answers · asked by pretender59321 6 in Politics & Government ➔ Other - Politics & Government
Gitr Done. Exxon/Moblies profit margin after taxes was 11% of gross revenues that hardly seems to be price gouging.
2007-02-15 12:22:21 · update #1
They are either ignorant, socialist, or both.
2007-02-14 23:54:11 · answer #1 · answered by Anonymous · 1⤊ 1⤋
The oil companies have perfected the "redistribution of wealth" so that they grab everyone by the short hairs and force us to buy their product (it is a staple of modern life) at hugely inflated prices.
I tend to be very conservative on financial issues, but this thievery has to stop. Common sense says a CEO does not need nor deserve a 700 million dollar bonus. That profit level should make us realize we have been abused.
I think it is time for the politicians to stop talking and act. Tell big oil that if that profit level is attainable, then prices are way too high. The next quarter, prices would be controlled to drop net profit to a reasonable level (for BOTH quarters). After a couple cycles like this, the price gouging would stop.
Realistically, all the politicians are bought and paid for and will do nothing of true value to help us. The liberals act as windbags on the issue to make the idiots think they care while cashing their dividend checks and accepting more bribes.
2007-02-14 23:54:24 · answer #2 · answered by Git r' done 2 · 1⤊ 2⤋
Some people don't like corporate tax breaks because they have been brainwashed by the mainstream liberal media to believe that all big business is evil and that all corporate executives are greedy and that the only way to close the gap between the rich and the poor is forced redistribution of wealth. Didn't you hear what The ***** (Hillary, and yes, she has achieved proper noun status -- she is THE *****) said? She wants the government to seize Exxon/Mobil's profits and force the company to use the money on research into alternate fuels and making fossil fuel systems more efficient. Who died and made her God?
2007-02-14 23:40:27 · answer #3 · answered by sarge927 7 · 2⤊ 1⤋
The only way corporations should get a tax break, is if they hire legal Americans, give them health care, and keep good jobs in America. Our country refuses to get away from our dependency on oil. What they say they pay and what they actually pay is not the same. Corporations make their money off working Americans. It is immoral to gouge the public, to make money for investors and greedy executives.
2007-02-14 23:55:26 · answer #4 · answered by jackie 6 · 0⤊ 1⤋
Yes they would. The masses hate it because the democrats have them convinced that they want to take that money and give it to them. We all no better, they want it for power, so they can spend it as they wish. They want us to start companies from scratch, work it till its worth billions then hand the billions over to the government. Thats f***ing crazy!
2007-02-14 23:43:06 · answer #5 · answered by jtaylor 3 · 1⤊ 1⤋