Smoking dope is fun eh? Let's rethink that.
Judah's #'s: Exxon had a profit of 10.65 billion on sales of 114.85 billion. 1.6 /10 * 100 = 16% Now let's remember 80 % of the profit comes from overseas earnings. They also pay income tax in other countries. 20% of 10b = 2b 1.6 / 2 * 100 = 80% wooooah that ain't right. Let's go a step further. 85% of profits go to American mainly through 401k's. So they make 80% of the money over there and stuff 85 % of the net earnings to us. That's not to shabby. . On Thu, Apr 28, 2011 at 8:14 PM, Gruss Gott <[email protected]> wrote: > I was joking. As a multi-national they cut US jobs, hide profits, and > rape the US taxpayer. > > Let's take a closer look, shall we? Let's run through those numbers; > please correct my math. > > The way it is > -------------------- > We can see from Sam's link that, according to Exxon, they paid $1.6B > in income tax in 2010. Probably not, but let's go with their numbers. > > "ExxonMobil is one of the largest taxpayers in the United States > Last year, our total taxes and duties to the U.S. government topped > $9.8 billion, which includes an income tax expense of $1.6 billion." > > ExxonMobile's net income for 2010 was $30.46B: > http://ir.exxonmobil.com/phoenix.zhtml?c=115024&p=irol-SEC&control_selectgroup=Annual%20Filings > > Again, this is their number; i.e., after all of their accounting > shenanigans, but hey let's us their numbers. > > So that's $1,600,000,000 / $30,500,000,000 = 5.25% income tax rate.. > > Which one of you paid 5% in income taxes last year? > > > The way it should be > ----------------------------- > If they'd paid 35% then they'd have paid: $10,675,000,000. That means > they shafted the US taxpayer $9B. > > Now, let's just round that up to $10B. > > If 100 companies like ExxonMobile all paid the same tax rates as you > and I then that would be $1T/year. > > :: trumpets :: > > and there's your deficit shortfall. > > And not only that, but we could then afford to give us taxpayers a tax > CUT from 35% to 30%. > > But that won't happen because lobbyists think you're too stupid to > understand simple math so you won't complain. > > Will y ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:337181 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
