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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Triffin who wrote (253781)	6/10/2008 6:43:00 PM
From: goldworldnet	Read Replies (1) \| Respond to of 793623

Part of the problem is that all absolutely all forms of energy creation and collection have environmental drawbacks and many critics, so consequently very little gets done. * * *

To: Triffin who wrote (253781)	6/10/2008 10:20:46 PM
From: KLP	Read Replies (1) \| Respond to of 793623

Exxon's 2007 Tax Bill: $30 Billion by: Mark Perry posted on: February 05, 2008 \| about stocks: XOM seekingalpha.com Corpo rate profits receive a lot of media attention, but what receives considerably less attention are the corporate taxes paid on corporate profits. Do a Google search for "Exxon profits" and you'll get about 8,000 hits. Now try "Exxon taxes" and you'll get a little more than 300 hits. That's a ratio of about 33 to 1. I'm pretty sure that Exxon's tax payment in 2007 of $30 billion (that's $30,000,000,000) is a record, exceeding the $28 billion it paid last year. By the way, Exxon pays taxes at a rate of 41% on its taxable income! static.seekingalpha.com [Update: The $40.6 billion and $39.5 billion figures are after-tax profits. For 2006, Exxon's EBT (earnings before tax) was $67.4 billion, it paid $27.9 billion in taxes (41.4% tax rate), and its NIAT (net income after tax), or profit, was $39.5 billion.] Over the last three years, Exxon Mobil has paid an average of $27 billion annually in taxes. That's $27,000,000,000 per year, a number so large it's hard to comprehend. Here's one way to put Exxon's taxes into perspective. According to IRS data for 2004, the most recent year available: Total number of tax returns: 130 million Number of Tax Returns for the Bottom 50%: 65 million Adjusted Gross Income for the Bottom 50%: $922 billion Total Income Tax Paid by the Bottom 50%: $27.4 billion Conclusion: In other words, just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers, which is 65,000,000 people! Further, the tax rate for the bottom 50% is only 3% of adjusted gross income ($27.4 billion / $922 billion), and the tax rate for Exxon was 41% in 2006 ($67.4 billion in taxable income, $27.9 billion in taxes).