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Outrage! In 2009 Exxon Mobil paid NO TAXES on $19 billion in profits!
FALSE.....
that Exxon did indeed pay substantial income taxes to the U.S. Treasury in 2009, and that it overpaid taxes in 2008.ExxonMobil, in 2009, after a handful of deferrals, recorded a total U.S. income tax benefit (i.e., a refund) of $46 million. Exxon an INTERNATIONAL company also paid non-U.S. income taxes of $15.165 billion, also records $7.7 billion in other taxes in the U.S. (like sales taxes) and more than $50 billion of other taxes and duties paid overseas.
to sit there and say exxon didnt pay taxes.....IS A LIE
My liberal mind tells me they MUST be made to pay their fair share and fair share to me is 75% because they are corporations and evil and pollute the planet.
Owned by filthy, rich people while the middle class gets constantly plugged by corporation thugs! The proletariat must rise up and wave the banner of socialism!
We must stand in solidarity with the California Teachers Association in demanding these company profits be taxed and taxed hard!
The people that benefit are the filthy rich sitting on their fat behinds collecting fat checks while the middle class struggles and dies!
What tax rate should be levied against company profits?
Leave as is and they pay no tax?
25%?
50%?
75%
All of it!
//Sarcasm off
Quote:
Originally Posted by EinsteinsGhost
This is about a specific big greedy corporation, just like you said in the GE thread that it was only about GE. Learn to walk the talk.
Ah, the ever evil corporations.
Let's recap:
Forbes prints a story saying EXXON and other corps don't pay taxes.
Socialist Sanders writes an article about how these evil corps are not paying any taxes, with a list of specific corporations.
Another writer does a story on Sanders list.
Forbes issues a retraction saying the original story was false and that in fact EXXON paid Billions in taxes.
Socialist Sanders has been a Senator for many years. he voted in favor for MANY of the tax laws that are in effect. He should know the laws.
He complains that corporations are following the laws he help enact.
A poster on here, I forgot who, sorry, posts the retraction article.
Many poster keep right on posting their hatred for corporations in general. Even calling them evil.
If you are going to get mad, about a story that was retracted, you should be focused on the gov't that enacted the laws that these corporations lawfully use, not the corporations themselves.
That people become outraged without even reading the financial statements of a corporation is just silly. I'm more outraged by the corporations, unions, and individuals who are guiding public policy by their influence on capitol hill vs. that influence of the average voter.
One of the largest shareholders of Exxon Mobil is the California Teachers Association pension fund. If we only taxed Exxon Mobil at a 50% rate we might be able to cut teachers pensions in half. Lots of liberal teachers would love sticking it to the evil rich oil companies.
Companies do not pay taxes, people do.
Of course those stockholders are ALSO taxed when the dividends on the earnings of those shares (aka the profits of the company) are distributed to them. As such, corporate income tax is one more form of double taxation. Most of the "ownership" of large corporations is in the form of pension funds and mutual funds, which in turn are the primary investment of the lower income and middle class, that depend on these incomes for retirement. Lets also ignore all the other taxes those corporations pay.
Many liberals have very poor math skills and can't comprehend this. An obvious outcome of studying "class warfare" in college, rather than math and science.
Of course those stockholders are ALSO taxed when the dividends on the earnings of those shares (aka the profits of the company) are distributed to them. As such, corporate income tax is one more form of double taxation. Most of the "ownership" of large corporations is in the form of pension funds and mutual funds, which in turn are the primary investment of the lower income and middle class, that depend on these incomes for retirement. Lets also ignore all the other taxes those corporations pay.
Many liberals have very poor math skills and can't comprehend this. An obvious outcome of studying "class warfare" in college, rather than math and science.
What is the taxation of pensions? Are the taxes taken out at the time withdrawls are made like a traditional 401K or IRA; or are they pre-taxed like a Roth IRA?
What is the taxation of pensions? Are the taxes taken out at the time withdrawls are made like a traditional 401K or IRA; or are they pre-taxed like a Roth IRA?
Taxed as income when you get the money.
Assume you are living on a fixed wage income and the shares you own earn $1,000.
Assume a 15% corporate income tax that 15% of your earnings is taxed. The check you will receive will be $850.
Assume your federal, state and local income tax rate is a combined 20% the money you have to spend will be $680 meaning your earnings were taxed at an equivalent rate of 32%.
"Outrage! In 2009 Exxon Mobil paid NO TAXES on $19 billion in profits!"
Why the outrage? We all know that the big oil companies are doing what is best for us. In that they are just barely getting by. Sometimes I lay awake at night, tears in my eyes, just thinking about their survival.
I bet all their corporate buildings display the American flag.
Instead of outrage maybe we should take up collections so that they can pay their bills.
I keep saying it but people keep ignoring it. The hard truth is virtually NONE of the fortune 500 (the biggest companies in America) pay any net taxes. They have thousands of lobbyists giving away hundreds of millions of dollars in bribes to politicians each year just to make sure they never, ever, ever have to pay any taxes.
That people become outraged without even reading the financial statements of a corporation is just silly. I'm more outraged by the corporations, unions, and individuals who are guiding public policy by their influence on capitol hill vs. that influence of the average voter.
Half agree. The corporations should have more influence on capitol hill.
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We all know that the big oil companies are doing what is best for us. In that they are just barely getting by. Sometimes I lay awake at night, tears in my eyes, just thinking about their survival.
