Some perspective

The left is furious at the news that ExxonMobil has declared an $11 billion profit for this past quarter. This comes at a time when gas prices are skyrocketing and everyone is feeling the pain, well, everyone except for the idiots that feel high gas prices are a great thing because they have others pay for it anyway. But this big profit windfall comes into perspective when you realize that it amounts to 2 cents per gallon they sold, while they also paid some $10 billion in taxes.

Compare that 2 cent profit to the markups and profits that companies make on bottled water, coffee, a college education, cars, or even your liberal’s favorite book, and you get the sense that while the numbers are large, its because we need so much of the stuff to keep a modern economy going. Two cents per gallon is far, far less than the god damned taxes we have to pay on energy, be it gas or heating oil, and yet, I hear way too few pissed at that. I was ecstatic after I heard the left get pissed about the oil industry’s huge profits, now I think this anemic return isn’t going to bump my investments that much at all.

You want to go after people that are fleecing us? Go after the liberal companies scoring billions in tax payer loot for marginal green technologies that will never be made viable like GE. Don’t stop there. Get pissed at the assholes in government that help them fleece us. I bet you will not be surprised what party they belong to when you do some digging. There is a reason our economy is in the dumps people, and contrary to the usual lies blaming Boosh!, the reasons are obvious.

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  1. CM

    Did you realise that of the $15 billion in taxes Exxon paid in 2009, none of it went to the US government? They count their losses in the U.S., while registering profits overseas. The $15 billion was divided among the countries where Exxon has set up one of its hundreds of foreign subsidiaries. In total, Exxon 122 foreign subsidiaries, including 32 in countries that are officially labeled tax havens by the U.S. government. It has 18 subsidiaries in the Bahamas, and 3 each in the Cayman Islands, Hong Kong, and Singapore.
    Apparently GE’s not only paying $0 in taxes, but receiving a $3.2 billion refund.

    Edit: Even if you look beyond federal income taxes, they still (according to one estimate) pay about 17% in tax. Does anyone here pay that little?
    http://www.washingtonpost.com/business/economy/how-much-do-oil-companies-really-pay-in-taxes/2011/05/11/AF7UNutG_story.html

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