ExxonMobil Pays $3 In Taxes For Every $1 In Profit
According to some on the left, ExxonMobile pays nothing in taxes. That’s right, there are some in this country who are so blinkered by class war that they think a multi-billion global corporation has zero tax burden in the United States. And why wouldn’t they, given the way some on the left fan those flames?
“Last year, the three biggest U.S. oil companies took home more than $80 billion in profits,” said President Obama earlier this year while railing against what he characterized as oil industry subsidies. “Exxon pocketed nearly $4.7 million every hour.” From the way Obama and others talk you’d think these companies were getting some sort of a special deal.
Well they aren’t, and figures released by ExxonMobil proves it. Forbes is covering the story, but here are the straight figures by way of Professor Mark Perry:
A company paying three times as much in taxes to the government as it takes in profits is taxed enough already. Our problem in America isn’t that the wealthy, and the big corporations, aren’t taxed enough. It’s that our government spends too much.
Tags: exxonmobil, Taxes
