Exxon made 45 billion in profit and paid $0 in federal income taxes

[laughingduck]

Goddamn you're stupid. If Exxon makes 450 billion how in the hell did they risk 450 billion? My company had $250,000 in sales last year, I doubt I risked a 5% of that. Now go back to your bitching about people that pay no taxes.

They have unreal expenses, leases that if they do not renew they lose. Equipment and infrastructure that cost a fortune to keep maintained and in compliance. Most folks act like they just put a straw in the ground, and it automatically comes out in the pump!


Let's get flat taxes for corporations and individuals. It's the only truly fair way to do it.

 

[Man o' the green]

Let's get flat taxes for corporations and individuals. It's the only truly fair way to do it.

 

[CrackerJax]

Fly... you have absolutely no idea what you are talking about. so shut ur pie hole and I am going to explain it to you ONE MORE TIME.

They make a GROSS profit for the year of 450 Billion dollars. K?

Now you seem to think all that profit is a given...but of course it is not. It's a risk. To make profit always takes a risk.

So out of that GROSS PROFIT...as someone alluded to... they have EXPENSES....and and OPERATING COSTS. To the tune of about 400 BILLION dollars. Yah...they ARE big....

BUT....the ONLY number that is truly relevant at the end of the year is... how much did EXXON actually make!! 42 BILLION is that number.

SO.... lawdy....so that comes out to a NET profit of a WHOPPING 8%. 42 BILLION actually put into the pocket. But 450 BILLION was NEEDED to operate to GET the 42 BILLION.

Mother of Mary.....

8 % NET profit is obscene to you? Are you ill?

If you like I can show you corp's that make that much or more ALL DAY LONG.

Now either you already know that and you just like to bash particular corp's or you don't know that ... which begs the question why you started a thread on something you don't understand.

Then you yell at ppl who actually try an explain what the numbers you are throwing around ACTUALLY mean....

GROSS PROFIT 462 Billion
Net Profit 42 Billion

% of profit for monies expended - 8%

Dang ur right...they are pure evil.

Meanwhile Obama spends 1.3 TRILLION (with minimum results) and you don't bat an eye.

Crack a book sometime. Not zane grey either.

 

[NoDrama]

What the hell are you talking about? First off, it wasnt $45 billion taken in, that was their PROFIT, their revenue was closer to $450 billion. Secondly, nothing in life is guaranteed, what makes Exxon so special in your head?

If this was a person (which under legal definition a corporation is) that didnt pay any taxes on 45 billion he would be in jail.

that's so funny, you make the exact same point, only CJ did it first and much more eloquently...FAIL for Flieslike a turkey

BUT the point of the post is how much actual profit made (42billion) and 0 taxes. Yeah its obscene, but guess what? Almost all the big corporations pay ZERO taxes. Its the middle class that pays the biggest piece of the pie and the rich that get shafted the worst percentage wise. Long long ago these big corporations were lobbying for tax breaks that only big multinational corporations would be able to take advantage of. Remeber when your yearly paycheck is 42 billion you can put a lot of politicians in your pocket.

 

[IAm5toned]

i pay extra taxes (voluntarily) on all of my income.

someone has to take up the slack....

lol... the real reason is to keep the irs off my back.
how many people do you know of that get audited for paying too much?

 

[CrackerJax]

If you want to see something obscene post up the amount of regulatory fees EXXON has to pay the government. Federal tax is just one of many.

I will also point out something which is to me very simple, but I have learned that I am overestimating some of you.

Corporations don't pay taxes. Citizens do. Corporations are just pieces of paper really.
If the govt. levies a 1 BILLION dollar tax on Exxon because Exxon didn't wish them a Happy Easter...( Obama tax #3,543), then Exxon simply turns around and passes that tax down to the consumer. Exxon goes out and makes YOU pay that Billion bucks. In the end all corporate taxes are HIDDEN taxes on the public. The govt. LOVES corporate tax because...again, as this thread points out.... lots of people can't connect the dots. Washington gets the loot, but not the blame. That is political PERFECTION.....and only by staying uninformed, can they get away with it.

Fly fits PERFECTLY into Washington's hands.... a perfect stooge, willing to misdirect the blame from them...and he doesn't even know it. What could be better for Washington!

 

[NoDrama]

Corporations don't pay taxes. Citizens do. Corporations are just pieces of paper really.
If the govt. levies a 1 BILLION dollar tax on Exxon because Exxon didn't wish them a Happy Easter...( Obama tax #3,543), then Exxon simply turns around and passes that tax down to the consumer. Exxon goes out and makes YOU pay that Billion bucks. In the end all corporate taxes are HIDDEN taxes on the public. The govt. LOVES corporate tax because...again, as this thread points out.... lots of people can't connect the dots. Washington gets the loot, but not the blame. That is political PERFECTION.....and only by staying uninformed, can they get away with it.

100% true, every extra fee we ( the corp I work for) have to pay to some regulatory agency just gets multiplied by 1.65 and that is the amount extra we charge the customer. Perfectly legal to make a profit on a government fee too!

 

[CrackerJax]

Think about health care costs right now. A good percentage of the costs are because of the govt. and their mandates and regulatory oversight. Reams of paperwork and duplication , creating paper towers inside every medical corp out there.... all adding tons of little costs along the way down to that 8 dollar aspirin you get at the hospital.

Now if you ask the govt....why it's not them! No... it's ...it's ...it's whoever they can put in the cross hairs at the moment. The first question any politician asks before they do something is... will the public buy it.

The more involved the govt is in ur life...the less money you will have.... one way or another. They may give you a check....but in the end...they are getting you at every register....because all of the costs of govt. on those companies is passed down to those registers....whether you like it or not....whether you know it or not.

 

[londonfog]

Cracker I totally understand what you saying about risk and op cost -vs- profits....my point is simple theses freak-in companies need to pay taxes on whatever profit is made. Companies are using tax loopholes, shelters and other shell games to get out of paying taxes..Did you know two out of three U.S. Corporations paid no taxes from 1998-2005... http://www.nytimes.com/2008/08/13/business/13tax.html?_r=2 .... WTF What if we all just said phuck it and no one paid taxes anymore...picture this country like that....

 

[FlyLikeAnEagle]

Corporations don't pay taxes. Citizens do. Corporations are just pieces of paper really.

Why do you continually remark about things that you know nothing about and pass them off as fact? Corporations are legal entities and do pay taxes. I've owned both C-Corps and S-Corps and although with an S-Corp it is much easier to avoid corporate taxes through dividends (whereas the person receiving the dividend pays the tax) any profit left by the corporation is taxed, paid by the corporation.

 

[CrackerJax]

Fly .... you have ZERO reading comprehension.

I SAID... corps PASS their taxes down the line.

YES EXXON would cut the BILLION dollar check to the IRS... BUT they just take it from their customers.

ALL corporate taxes WIND on down to YOU. Only you can't see it. Again...you are exactly the type of citizen the govt. wants.... unobservant.

 

[Johnnyorganic]

What's all the hubub about anyway?

From the Forbes article:

ExxonMobil in its 2009 annual report to the SEC, recorded a larger income tax expense than any other U.S. company last year, some $17.6 billion, or 47% of pretax earnings

That does not even include Capitol Gains taxes on the actual owners of the corporation, the stockholders.

Taxing Capitol Gains and income is double taxation.

So... how can the Report to the SEC differ so substantially from the multinational corporation's financial statements?

Who to believe? The SEC, or the evil corporation?

Proggies are funny.

 

[bud nugbong]

for the money they make they dont pay enough in taxes. i think that large corps that have been bailed out by the gov. to turn around and give thier ceo's 100's of thousands in bonuses weeks later is very very wrong as well. and it seems to me the companys with enough money and power to push a politician's plan through or to influence the greater public get all the breaks.

our whole government is run by lobbyist not the politicians whoever pays the most gets laws changed. (cigarette companys got away with it for years untill 90% of lifelong smokers died of lungcancer or other breathing related illnesses. but they are still 100% legal because of the taxes and the payoffs it generates for the butthole senators and congress men.

In my opinion i think we are at the begining of the fall of the U.S. you poeple may think im wrong but i dont think the egyptians or the romans thought thier mighty empires would fall either....we have all seen what wrong this gov has done over the last couple centuries, from slavery to wars to g.w bush and bin ladens familys bieng in buisness with eachother. not to mention the poor native americans who lived on this land so peacefully before us crackers stole the shit.

are you proud to be an american?

 

[CrackerJax]

What's all the hubub about anyway?

From the Forbes article:
That does not even include Capitol Gains taxes on the actual owners of the corporation, the stockholders.

Taxing Capitol Gains and income is double taxation.

So... how can the Report to the SEC differ so substantially from the multinational corporation's financial statements?

Who to believe? The SEC, or the evil corporation?

Proggies are funny.

JO.... I was getting there.... the truth needs to be spoon fed to liberals else they vomit.

for the money they make they dont pay enough in taxes. i think that large corps that have been bailed out by the gov. to turn around and give thier ceo's 100's of thousands in bonuses weeks later is very very wrong as well. and it seems to me the companys with enough money and power to push a politician's plan through or to influence the greater public get all the breaks.

our whole government is run by lobbyist not the politicians whoever pays the most gets laws changed. (cigarette companys got away with it for years untill 90% of lifelong smokers died of lungcancer or other breathing related illnesses. but they are still 100% legal because of the taxes and the payoffs it generates for the butthole senators and congress men.

In my opinion i think we are at the begining of the fall of the U.S. you poeple may think im wrong but i dont think the egyptians or the romans thought thier mighty empires would fall either....we have all seen what wrong this gov has done over the last couple centuries, from slavery to wars to g.w bush and bin ladens familys bieng in buisness with eachother. not to mention the poor native americans who lived on this land so peacefully before us crackers stole the shit.

are you proud to be an american?

OMG./..... that is so well thought out and detailed in precision. Of course...that's the way it is.

If the USA falls it will be because of liberalism..... who are eating through the countries constitutional foundation like termites.

Spending the future.....now. That's a catchy phrase....

 

[Johnnyorganic]

JO.... I was getting there.... the truth needs to be spoon fed to liberals else they vomit.

Sorta makes me wonder what brand of gasoline these clowns use to fill up their Vespas and their Subarus.

Probably CITGO.

Viva Hugo Chavez!

 

[CrackerJax]

Then the whine starts inevitably about high prices. They complain to the govt. to do something about it...

Of course, the noobs don't realize that if the govt. GOT OUT OF THE WAY....the price of fuel would DROP dramatically.

But hey, it's always better to let others drill in the Arctic...in the Gulf Of Mexico...because Russia and China drill so much more cleaner than we do.... right?

So as they cry about the environment they back the position of MORE oil tankers floating in the oceans....not less.

It's like a circle jerk of naivete.

 

[Jamielee]

This tax cut thing is a topic I have changed my view point on and now I have to agree with Man o' the Green.
While everyone cringes at the idea of these billion dollar companies getting off the hook by investing America's money into foreign banks we need to look at the possibility of making America's banks a worth while place to invest billions of dollars.
Another fact that occurred to me that if you deposit over $15,000 in cash you opens yourself up to investigation. This of course is hurting the economy because people don't want to be penalized for admitting they have money or possibly be investigated for having it.
Government has reached so far into everyone’s pockets that are they have started feeling it in their own finances. You cannot stop criminal activity you just have to learn to profit of it. Lowering taxes will keep American money in American banks and stop the government from having to "bail out" the banks because they are restricted by regulations.

 

[CrackerJax]

Yes.... if you want prosperity you have to make the climate of business in the USA favorable...not hostile.

Want to increase govt. revenue? Lower taxes will do it every time.

It's about being the place to be in the globe....and right now....we are not the place to be, and the policies being enacted will make that a permanent deal for as long as the policies are in place.

 

[NoDrama]

Then the whine starts inevitably about high prices. They complain to the govt. to do something about it...

Of course, the noobs don't realize that if the govt. GOT OUT OF THE WAY....the price of fuel would DROP dramatically.

But hey, it's always better to let others drill in the Arctic...in the Gulf Of Mexico...because Russia and China drill so much more cleaner than we do.... right?

So as they cry about the environment they back the position of MORE oil tankers floating in the oceans....not less.

It's like a circle jerk of naivete.

You know the thing that always gets me is that people think a oil drilling rig is so nasty and dirty and destroys huge amounts of land. Nothing could be further from the truth. A drilling rig ( A Big Diesel electric) Takes up less than 2 acres of land for the whole operation. Every fluid is captured in lined pits, sucked out and properly disposed of. NOTHING is left to seep into the ground. With the newest horizontal technologies a rig can make multiple wells from a single spot, no more moving the rig around to multiple locations. A very deep well typically takes less than 40 days to complete, later on the well will be cased if it is a good one and it is either pumped out or cemented in and capped for later use. They do not have those big gusher wells anymore, if there was going to be oil or gas escaping they have whats called a BOP (Blow Out Preventer) that caps the hole and hydraulic rams will shut that well closed so nothing gets blown out. You know what they put in the ground to provide lubrication and coolant to the diamond bit that does all the work? Mud!

 

[CrackerJax]

The greatest risk of an oil spill is by the tanker itself.

So what does our oil policy do? Why we demand MORE tankers!!!! All imported oil comes to us by tanker. Everybody floats on down to Houston. Up and down our coastlines, all day and all night.

So next time a tanker spills oil, don't blame BIG OIL...blame yourself. Domestic drilling REDUCES tankers....