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 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.”
