The 12 highest corporate tax bills

For all the talk of corporate tax dodgers, you might be surprised to learn how much some of the nation's largest publicly traded companies pay Uncle Sam.

 By Christopher Helman, Forbes.com

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SplitFilleR
Apr 23, 2012 8:20AM
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First of all, I hate paying $4 a gallon at the pump just as much as anyone else, We the people are all struggling in this economy. But let's get this straight, the President and other politicians as well as alot of "We the People" are all up in arms and complaining about subidies for big oil! Ask yourself this, Do you really understand what these subsidies are? They are TAX BREAKS for the cost of doing business that are allowed to be taken by EVERY company/person in this country. Do you right off your home mortgage interest, your property tax, child tax credit or any of the other countless deductions that are out there. If you do, YOU ARE RECEIVING GOVERNMENT SUBSIDIES ALSO!

Wake up people, If you want BIG OIL to give up their tax breaks, then YOU need to be willing to give up yours! WAKE UP People, we are being deceived by almost all Politicians, especially this administration! Do your research, learn what is really going on here or it is all going to get ALOT worse.

Unfrozen
Apr 23, 2012 8:17AM
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Wow...a random act of journalism.
Alex from Russia
Apr 23, 2012 8:16AM
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It is absolutely wrong conception from both sides... Republican and Democrats...From democrat side yes it should be higher taxes, but not for all businesses...From Republican side yes it should be less taxes, but again not for all businesses... Government should raise taxes for businesses who operate in overseas countries like China and lover taxes for companies what operating in US soil...That is exactly what should be done....And even more... Government should don't take ANY taxes from NEWLY opened businesses at list for one year....
BigRig
Apr 23, 2012 8:10AM
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While they   are paying the most in Tax's  all you have to do is look at the descrepensies between  the gross and Net Incomes  dosn't take a rocket Scientist to know they are cooking the books
Someone
Apr 23, 2012 8:10AM
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Well I GIVE UP! The rich are taking everything they can and no one seems to question how they are doing it. I KNOW! Do you want to see how they are getting a ton of cash for their stock budgets? Google the term "FAST STOCK BUDGET" and go to the first site or right to the site with the same name. They have a penny stock page that shows what the rich don't want you to see. If you are tired of being poor and want in on the action, then this is a must see. Be prepared to see other half lives. 





















e a genius to know that OIL CORPORATIONS DON'T PAY TAXES; THEY PASS THEM TO CUSTOMERS IN  THE FORM OF HIGHER PRICES AT THE PUMP!!!  WE ARE BEING ROBBED AT THE GASOLINE PUMP BY OUR OWN GOVERNMENT... do you really think Exxon and others are paying taxes? really?  AMERICANS ARE REAL SUCKERS! This is why they keep pulling your pants down and raping you and your ch

Uneven
Apr 23, 2012 8:09AM
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If this is the case and the writer wants to give these companies more money to their huge wealth, then why don't we get more bullet trains and better mass transit all accross the nation... Why casue they have people opposing it too. You really stuck your foot up your uuuhhhuum with this article. Can't you see the money still comes from us the tax payers... Not to mention the strangle hold politicians have on us with Traffic Fines, Vehicle tax, Insurances( Tied to Fines and all records) Fuel tax.. etc.. etc.. etc.. you can take the article down now we know who paid for it.
youdaman
Apr 23, 2012 8:09AM
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This article is deceiving.  The question one should ask is this.  " How do these companies go from "total revenue"  to "net income".  They do it through tax breaks or subsidies.  I made 200K this year and paid a true rate of 6% federal tax.  I did it through  exemptions, tax breaks and the way that I've structured my income.    Trust me, these companies have done exactly the same thing.
Robert Dygert
Apr 23, 2012 8:09AM
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I'm certainly no math whiz but I can compute %s and I can't make any sense

out of this with the figures you have given... more info please.

youdaman
Apr 23, 2012 8:09AM
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This article is deceiving.  The question one should ask is this.  " How do these companies go from "total revenue"  to "net income".  They do it through tax breaks or subsidies.  I made 200K this year and paid a true rate of 6% federal tax.  I did it through  exemptions, tax breaks and the way that I've structured my income.    Trust me, these companies have done exactly the same thing.
REALLY TIRED OF IT
Apr 23, 2012 8:05AM
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It doesn't take a genius to know that OIL CORPORATIONS DON'T PAY TAXES; THEY PASS THEM TO CUSTOMERS IN  THE FORM OF HIGHER PRICES AT THE PUMP!!!  WE ARE BEING ROBBED AT THE GASOLINE PUMP BY OUR OWN GOVERNMENT... do you really think Exxon and others are paying taxes? really?  AMERICANS ARE REAL SUCKERS! This is why they keep pulling your pants down and raping you and your children.
MCIAHEL
Apr 23, 2012 8:02AM
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obama and his minions need to understand when your in debt up to your **** then you stop spending. more foodstamps are a hot one. how many of these recipients of food stamps, sell them for drugs or booze, i live in ct. gas tax are killing us, 30 cents higher than alot of places, i went to mass a couple weeks ago and gas was 35 cents cheaper. the governor got us done 2 cents at the pump. we will never notice that at the pump and the station just will charge you for it anyways and put it in the bank./
indangered
Apr 23, 2012 8:02AM
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lol...im sorry but big companies like this do not pay taxes and never have. if they did i wouldn't have to. all these breaks they get do we feel it .. NO... the only way it would help us would be if they put a price freeze on everything b4 they made them pay tax..41 billion in profit lol... i wonder how my 12k a year for a family of 4 looks against that. oh well i got to go to court irs is going to garnish my pay for unpaid taxes
CDB926
Apr 23, 2012 8:01AM
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zuksam, SO SO TRUE!!!!

ROY IN CRESTLINE
Apr 23, 2012 7:59AM
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So the 'greedy' big 3 oil companies make about $0.08 of profit on each $1.00 of sales, and they pay an effective tax rate of about 43% on income and they get Obama's condemnation, but Obama's big buddy Microsoft (Bill Gates, NBC) makes about $0.33 of profit on each $1.00 of sales but pays an effective tax rate of only 15.9% on income.

 

Gee, I wonder who's REALLY 'not paying their fair share' of income taxes.

CDB926
Apr 23, 2012 7:58AM
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The point of it all is NOT that they paid x amount in total $.  Numbers can tell you anything you want them to depending on how you read into them.  The point really is that there are tax breaks that prevent them from paying the amount that they truely should pay.  It does not matter if the paid $40 billion or $5, there are holes in the system that enable certain companies in certain industries to pay less than they would have to without the laws the way they are.  When they were implemented the reasoning may have been legitimate, however, under mountainous debt now we cannot afford tax breaks for any of these industres.  I LOVE how this article points out that without the loopholes "it would hardly make make a dent in the debt".  Really????  Over time it will.  Every little bit helps does it not?????

That is the exact disconnect from everyday people that this country has in government.  A 1.5% raise for someone making $18K a year is hardly alot, especially on a daily/weekly basis, but ask that person if it helps them just a bit.  Every little bit helps. 

PathwayVT
Apr 23, 2012 7:55AM
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Geniuses, we (the man in the street) pay every tax.  Period.  Get it through your heads. 
Ed Stoddard (mustangace)
Apr 23, 2012 7:51AM
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Big Oil is doing just fine racking in big bucks, which is why they are paying more in income taxes. Even though government subsidies to big oil companies will not reduce our national debt by much, every little bit helps.  Whenever you are in debt big time, you try to save everywhere!!  It doesn't take a lot of brains to understand this concept!  The writer of this article seemed to take the narrow view that since oil companies paid a lot in income taxes this year we should give them a pass on subsidies.  Big Oil doesn't need them, period.
zuksam
Apr 23, 2012 7:49AM
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Its simple oil companies are successful. They sell a product that everyone needs and year after year show record profits so why are they getting tax breaks. Tax breaks should be for companies that are going through hard times or are involved in emerging technologies that are deemed crucial to the future of this country. Small businesses don't get these tax breaks because they can't afford to buy influence in washington.
sk8goddess
Apr 23, 2012 7:47AM
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The thing is...WHY are oil companies getting tax breaks at all? I'm all for giving a tax break to a company that is struggling to stay in business but what purpose does a tax break serve when the company is making billions in profits? I work multiple jobs and can barely afford to pay my living expenses after taxes so why should a company that makes all this money get a tax BREAK? I'm not saying that companies like this should be penalized. We are a capitalist society after all, but they should pay their fair share of taxes, not be given breaks.
code enforcement
Apr 23, 2012 7:39AM
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Am I the only person who find the math here interesting?  Non of the numbers match up and there is no consistancy in the tax rate percentages.  They must have pulled them out of the air.
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