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Retread
03-18-2012, 09:26 PM
If you just happen to have any progressive friends who just happen to not know squat about “Big Oil” (like the twit), here is a stat (http://online.wsj.com/article/SB10001424052702304537904577277440911481180.html?m od=googlenews_wsj) worth noting. "The Tax Foundation estimates that, between 1981 and 2008, oil and gas companies sent more dollars to Washington and the state capitols than they earned in profits for shareholders."

For instance: "Exxon Mobil, the world's largest (Public) oil and gas company, says that in the five years prior to 2010 it paid about $59 billion in total U.S. taxes, while it earned . . . $40.5 billion domestically. Another way of putting it is that for every dollar of net U.S. profits between 2006 and 2010, the company incurred $1.45 in taxes. Exxon's 2010 tax bill was three times larger than its domestic profits. The company can stay in business because it operates globally and earned a total net income after tax of $30.5 billion in 2010 on revenues of $370.1 billion."

And yet Obama and the Democrats still want to increase taxes on the oil companies out of “fairness (https://mninews.deutsche-boerse.com/index.php/obama-urges-congress-eliminate-outrageous-oil-subsidies?q=content/obama-urges-congress-eliminate-outrageous-oil-subsidies).”

Apache
03-18-2012, 09:45 PM
there are no trustworthy politicians on this energy issue...

Janice
03-18-2012, 10:50 PM
http://i.imgur.com/LxGX2.jpg

Janice
03-18-2012, 10:53 PM
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Rockntractor
03-18-2012, 11:06 PM
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Rockntractor
03-18-2012, 11:17 PM
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Rockntractor
03-18-2012, 11:32 PM
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Rockntractor
03-18-2012, 11:44 PM
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Janice
03-19-2012, 02:31 AM
http://i.imgur.com/D58ag.jpg

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m00
03-19-2012, 03:21 AM
"The Tax Foundation estimates that, between 1981 and 2008, oil and gas companies sent more dollars to Washington and the state capitols than they earned in profits for shareholders."

Are companies generally taxed on profits or revenue? Because there's a difference. Personally, I am directly taxed about 3x to 4x my "profits" (what I manage to save every year after expenses), and I'm sure it's much much higher if one factors in all the hidden taxes.