BoatBanter.com - View Single Post - I will pay more in federal income taxes this year than ExxonMobil

jps

On Wed, 07 Apr 2010 17:38:41 -0400, wrote:

On Wed, 07 Apr 2010 10:33:29 -0700, jps wrote:

On Wed, 07 Apr 2010 12:08:04 -0400, wrote:

On Wed, 07 Apr 2010 01:31:41 -0700, jps wrote:

Every time you drive up to the pump, you pay more in federal tax for a
single gallon of gasoline (18.4 cents) than ExxonMobil paid in U.S.
income taxes in 2009. That's in spite of the fact that the world's
second largest company had a gross operating profit of nearly $53

Corporations don't pay taxes, their customers do..
If they paid any additional taxes, it would simply show up in the
price of gas, with the profit tacked on.
I understand some people do want to increase taxes on gasoline and
this is a way to do it but understand that is what you would be doing.

Flawed logic. Exxonmobil is simply a conduit for sales taxes paid by
you and me. Doesn't make a whit of difference to ExxonMobil, whose
profit was the largest in history last year, while paying no taxes.

You think that's fair? Not me.

I do the same for the city, state and government when selling retail
but that doesn't make my company a productive tax producer, just a
conduit.

Where I produce for the state is in state revenue taxes and federal
income taxes.

I guarantee you the tax burden is buried in the price. If you tax
Exxon, their price will go up by that amount..

Ah, yes. That's how I price my products too. NOT! Corporations do
not price their products to ensure exhorbitant profits. They price
them consistent with what the market will bear, based on supply and
demand. That's especially true of commodity sellers like EM.