Exxon Mobil, which on Thursday reported the highest quarterly profit ever and is the main target of any "windfall" tax surcharge. Its profits are at record highs, and its tax bills are at record highs too. Between 2003 and 2007, Exxon paid $64.7 billion in U.S. taxes.
That sounds like a government windfall!
"Mr. Obama's "emergency" plan, announced on Friday, doesn't offer any clarity. To pay for "stimulus" checks of $1,000 for families and $500 for individuals, the Senator says government would take "a reasonable share" of oil company profits."
One would think that $64.7 billion is already a reasonable share of oil company profits! If they decide to take from the oil companies then who will be next, Google had a 25.3% profit increase, Abbott Laboratories had a 110% gain in profits, and Berkshire Hathaway-Warren Buffett's outfit pulled in $11 billion last year, up 29%. If they take from the oil companies then someone will be next, are you prepared to pony up more dough?
Do we expect oil companies to be in business to lose money? Just shows how much Obama and his team really know about the world of business. It is your decision in November.
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2 comments:
AH. But you insult Robin Hood. Robin stole the taxes back from the sheriff (government) and gave it back to the taxpayers. What we need is a new Robin hood!
www.lp.org We need new leadership.
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