VIDEO ON MSN MONEY
Exxon made little over 8.68% profit on 468 billion or 41 billion income. Dividends were paid of nearly 9 Billion which would net about 32 billion and paid 18% in taxes.
Apple made nearly 26% profit on 127 billion for 33 billion and they don't pay anyone squat and only paid 9.8% in taxes.
So why don't you guys get all pissed at Apple ????
Just something to think about.
As the director of a corporation that signs my companies tax forms I can tell you my company doesn't pay its corporate taxes, my customers do. I just collect the money and write the check passing it on to the IRS. Taxes are part of the cost of doing business just like the wages of my two (yes 2) employees, their benefits, the laptops we use, travel costs, etc. And when prices (or taxes) go up I pass those costs on to my customers. In fact, tax rate increases are the easiest cost to pass on to the American people becasue it hits every corporation equally. So if we increase tax rates for oil companies, Apple computer, or mcDonalds we will all pay more, and my company will pass the higher cost of fuel or laptops or whatever right on down the line. This is just a ruse to raise taxes on us all by using the middleman tax collector (the corporations) as a scapegoat. In the end we will be essentially be raising our own taxes. The poor will be hurt the worst since they can least afford the increased cost of goods and services that would result.
I know that this doesn't have that much to do with this oil companies. But when I hear about the deficit, I can't help but going over to youtube and watching this video with the Federal Inspector General trying to explain were 9 trillion dollars went and she cannot explain it. She has know idea were the money is at and she keeps saying that she's going to "investigate" the situation. It's labeled "9 TRILLION Dollars Missing from Federal Reserve, Fed Inspector General Can't Explain." Why wasn't this on the news and America know about it?
No small business could survive paying 42%...
The reality Obama doesn't understand(apparently they don't teach Economics at Harvard) is that if he raises taxes on companies, especially those that sell a product that people NEED and have little flexibility to cut back on....they'll just pass the added cost on to their employees... There is no way around it... If Obama raises taxes on oil companies, the impact will hit the people themselves. Anyone still on Obama's side needs to wake up and see what's happening...the man can speak great, but he has no true economic sense of the country.
What kills me is oil companies are being charged over 40% tax and they do the R&D, exploration, production and so on and uncle sam extorts 50 cents a gallon more for not doing a damn thing! Who is the crook here?
America, please wake up! We are way overspending and taxing too much. Obama's stimulus didnt work because people are afraid to invest in companies that produce jobs due to uncertainty of what kind of tax or regulation Obama will come up with next. The economy will not turn around until Obama is voted out. If he is not voted it out, it may be the end of our great nation. Wake up America, Wake up!!
I am amazed at how many Socialist thinking people blog on MSN. Finally an article that delivers the true facts, and yet many blindly cry for spreading the wealth.
have you ever noticed the only idea the democrats on any level have to fix somthing is to raise
taxes. lower the corporate tax rate get rid of all the bad legislation on compainies trying
to expand. All these companies will start to hire and more people will pay into uncle sam.
socialism doesnt work this way thow,it controls everything ,takes spending power away from the people so they the government can control the people more.
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