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posted to rec.boats
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First recorded activity by BoatBanter: Apr 2010
Posts: 52
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I will pay more in federal income taxes this year than ExxonMobil
Bill McKee wrote:
wrote in message
...
On Wed, 07 Apr 2010 12:08:04 -0400, wrote:
On Wed, 07 Apr 2010 01:31:41 -0700, wrote:
Every time you drive up to the pump, you pay more in federal tax for a
single gallon of gasoline (18.4 cents) than ExxonMobil paid in U.S.
income taxes in 2009. That's in spite of the fact that the world's
second largest company had a gross operating profit of nearly $53
Corporations don't pay taxes, their customers do..
If they paid any additional taxes, it would simply show up in the
price of gas, with the profit tacked on.
I understand some people do want to increase taxes on gasoline and
this is a way to do it but understand that is what you would be doing.
Flawed logic. Exxonmobil is simply a conduit for sales taxes paid by
you and me. Doesn't make a whit of difference to ExxonMobil, whose
profit was the largest in history last year, while paying no taxes.
You think that's fair? Not me.
I do the same for the city, state and government when selling retail
but that doesn't make my company a productive tax producer, just a
conduit.
Where I produce for the state is in state revenue taxes and federal
income taxes.
Profitable corporations do not pay taxes. They pay a business expense. And
expenses are calculated in to the price the consumer pays.
Do you have an example of that? Pick a publicly traded company and look
at their balance sheet and financial statement. Profits = taxes. If
they were an expense they would reduce the profits.
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