all_hail_gwb (1000+ posts) Wed Aug-06-08 06:22 PM
Original message
So how would one smack down a jerk who says EXXON paid more taxes

than they pocketed in profit?

Are there charts or anything anywhere that show aything but the 30 billion in taxes compared to the 10 billion in profit?
Give me something that LIES!! Quick!!


so sorry:
Exxon Posts Record $32.36 Billion Tax Payment

Although the way CNN reported it is "Exxon posts record $11.68 billion profit."
According to CNN, Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
That profit works out to $1,485.55 a second.

Buried in the story we also find that "In addition to making hefty profits, Exxon also had a hefty tax bill. Worldwide, the company paid $10.5 billion in income taxes in the second quarter, $9.5 billion in sales taxes, and over $12 billion in what it called 'other taxes.'"

MP: In other words, Exxon Mobil paid $32.361 billion in taxes in the second quarter, which works out to $4,114 in taxes per second. Another way to look at it - Exxon paid almost $3 in taxes ($32.361 billion) for every $1 in profits ($11.68 billion), see chart above.