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Exxon is kinda sorry it made $11B this quarter
#1
what do they mean by "they are one of the biggest taxpayers in the United States"? they don't pay taxes, they collect them from their conned customers, and forward them to the treasury. they get subsidies from the government, on top of $11bln profit in the last quarter alone. in the price of each gallon sold to an american customer is more than $1 of pure profit. wouldn't it be appropriate to tax exxon & co ruthlessly? that alone keeps medicare running.

[Image: AP-EXXON-EARNS.gif.gif]

http://www.msnbc.msn.com/id/42807557/ns/...ing_green/
"You know, Paul, Reagan proved that deficits don't matter." Dick Cheney
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#2
Just don't buy gas, duh!
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#3
Of course Exxon's, and other oil companies, have higher profits when the price of oil rises, you genius! Duh!!

Oh, and it is FACT that on average, the oil companies reap right at $00.19/gallon for every gallon sold. In the state I am currently residing, North Carolina, total taxes for one gallon is 30.55 cents/gallon.

So who is raping whom "Q"? Exxon, or the government? When a company makes less profit than the government's restrictions upon that product(in economics this is called a "Wedge"), don't you think there just might be something fishy going on?

Again, Duh!! Nice try anyway, You Genius You.
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"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#4
Incidentally, this belongs in Economics, instead of politics. I realize the former is even more alien to you than the later, but that can't be helped.
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"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#5
(05-03-2011, 12:25 AM)John L Wrote: Of course Exxon's, and other oil companies, have higher profits when the price of oil rises, you genius! Duh!!

Oh, and it is FACT that on average, the oil companies reap right at $00.19/gallon for every gallon sold. In the state I am currently residing, North Carolina, total taxes for one gallon is 30.55 cents/gallon.

So who is raping whom "Q"? Exxon, or the government? When a company makes less profit than the government's restrictions upon that product(in economics this is called a "Wedge"), don't you think there just might be something fishy going on?

Again, Duh!! Nice try anyway, You Genius You.
150 bln gallons of gasoline are sold per year in the us, and exxon isn't even no. 1 on the market. your figure is agenda-driven crap.
a great contributor to charity is exxon, though. they donated $ 6.6 million to environmental and social issues in 2007, and made $40.61 bln the same year in profits. seems not to work to waive taxes, and to hope to gain more out of the sheer goodness of the hearts of rich folks.
"You know, Paul, Reagan proved that deficits don't matter." Dick Cheney
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#6
(05-03-2011, 03:59 AM)quadrat Wrote: 150 bln gallons of gasoline are sold per year in the us, and exxon isn't even no. 1 on the market. your figure is agenda-driven crap.
a great contributor to charity is exxon, though. they donated $ 6.6 million to environmental and social issues in 2007, and made $40.61 bln the same year in profits. seems not to work to waive taxes, and to hope to gain more out of the sheer goodness of the hearts of rich folks.

Profits don't end up in a void, but are used to reinvest (directly within Exxon, or indirectly through reinvested dividends/etc.) and to consume. To get a correct figure on charity you need to consider how much of the dividend/etc. is spend on charity by investors, and the positive impact of investments on future charity through an increase in profits.

A firm is just a shell that performs a function.

And a note on profit figures: don't look at absolute numbers but at margins. Gasoline is often one of the least profitable areas for these firms. The large absolute profit figures just draw a lot of attention.
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#7
(05-03-2011, 07:06 AM)SNK Wrote: Profits don't end up in a void, but are used to reinvest ... and to consume.

same goes for taxes, in particular those spend on healtcare, unemployement, and welfare. unlike exxon's profits, they are consumed to 100% in the usa.
the exception is defence, these funds end up in a void.
"You know, Paul, Reagan proved that deficits don't matter." Dick Cheney
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#8
(05-03-2011, 12:27 PM)quadrat Wrote:
(05-03-2011, 07:06 AM)SNK Wrote: Profits don't end up in a void, but are used to reinvest ... and to consume.

same goes for taxes, in particular those spend on healtcare, unemployement, and welfare. unlike exxon's profits, they are consumed to 100% in the usa.
the exception is defence, these funds end up in a void.

[Image: 17-i-lol.jpg?1275228554]

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"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#9
Q, there is better than taxes on company profits: Bail Outs!
Obama should buy massive amount of Big Oil stocks while oil prices are articifialy crashed for whatever reason (OBL's death, ending the war in Lybia etc) and then resell them on the open market two years later. Just as they did with banks.
Like this they could pay medicaid and get the Bush tax cuts prolonged toghether.
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#10
The estimable Q said:
"...each gallon sold to an american customer is more than $1 of pure profit."

I challenge you to prove this.
Jefferson: I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy.
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#11
[Image: 5611alz.jpg]
"You know, Paul, Reagan proved that deficits don't matter." Dick Cheney
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#12
The cartoon above is a great example of what is wrong with the thinking of the majority of Americans, and "Q" as well. If you will note, there is no picture of the politicians, who are stuffing all the campaign money, special trips, or other perks, that Big Businesses, of which Big Oil is but one of many, into their campaign war chests, or back pockets. the picture does not show just how much of that money in the wheelbarrows is actually going to go to them, After The Fact.

And that is the Real Rub. The Real Rub is that the true villains are the politicians, who are playing the big businesses for all the goodies they can muster. And naturally the big businesses go along. But make no mistake, were it not for politicians initiating, or demanding this game, it would not be happening.

So thank you "Q" for showing us just how intellectually myopic you are, and how myopic the majority of taxpayers are, to allow this relationship, and concentrate on the lesser of the two evils. Whether or not you know it, you are playing your part as Heyoka. Too bad you are not aware of being led around by the nose, by some one who is a far better artist than a wise person. S5
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"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#13
Oh, and one other thing: the cartoon above shows just how poor our education system is, because obviously the artist has never heard of, or read, Frederic Bastiat. Had he been required to read Bastiat's That Which Is Seen, and That Which Is Not Seen, while attending public school, he would never have allowed himself to look so foolish, and uninformed.

The artist has probably heard of the Law of Unintended Consequences, but never been able to plug in the actions with the consequences. A pity too.
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"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#14
good you pointed out that, in "North Carolina, total taxes for one gallon is 30.55 cents/gallon". do you think that is the money the taxpayer has to find per gallon to finance the subsidies to big oil, on top of $40 bln profit for exxon alone per year?
"You know, Paul, Reagan proved that deficits don't matter." Dick Cheney
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#15
The 4B subsidies to the BIg Oils are reimbursement for their support for the presidential campains. LOL
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#16
[Image: no-bill-ity.gif]
"You know, Paul, Reagan proved that deficits don't matter." Dick Cheney
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#17
Where do you stumble across all these economic illiterates "Q"?
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"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#18
can you elaborate? what makes wassermann an economic illiterate?
"You know, Paul, Reagan proved that deficits don't matter." Dick Cheney
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#19
(05-10-2011, 11:33 PM)quadrat Wrote: can you elaborate? what makes wassermann an economic illiterate?

Because first of all, customers Always pay the corporate taxes. It's built into the cost of the goods and services. And the cost of the goods and services are based on the market value at the time.

But most importantly there are no dirty money grubbing politicians sitting up there. They are the ones who benefit most by this incestuous relationship. They are the ones who instigate the extortion racket, and the businesses pay the protection money to them for their right to stay ahead of the competition.

It is the politician who is the real culprit, and that cartoonist is too much of an economic/political moron to realize it. And you just go along parroting the same old Jackass/class-warfare rhetoric. Wasserman is just a Dumb Jackass, who is a Useful Idiot, and doesn't realize how he is allowing himself to be used.

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"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#20
I think the cartoon demonstrates quite well how any more taxes would just be passed on to the people doing the carrying.
[Image: SalmaHayekcopy.jpg]
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