Say Anything Blog

Ford and GM should just buy some oil companies to keep them in business since their current business model is failing and the oil companies clearly understand how to run a business inspite of government and union interference.

For perspective, the total amount of gasoline purchased in that quarter from all vendors would be about 35 billion gallons, so government is taking a huge cut of the revenues here--literally about $1/gallon, it seems, when the gas tax is added to the mix.

That would vary from state to state depending on the amount the state has levied on top of the federal tax.

The government also takes a pound of flesh in royalties from oil exploitation on government land.  I wonder if that’s calculated as a tax?

When the people fear their government, there is tyranny; when the government fears the people, there is liberty.

-- Thomas Jefferson

Rob’s recently listened-to songs:

The government also takes a pound of flesh in royalties from oil exploitation on government land.  I wonder if that’s calculated as a tax?

Sounds like R&D to me.  I’d call that the cost of doing business (i.e. overhead).

Yes, a cost of doing business, but not R&D.  R&D would be the exploration of rock formations and drilling of wells.  Wrong accounting column.

Even so, Rob’s right that it is a cost that goverment sees fit to pass to the consumer.  Think about it; half the cost of your gasoline goes directly to government.  Ouch.

It looks like Jeff Rickert is just an ignorant moron here. That’s putting it nicely. Since when is making profit a “free ride” to begin with?

My front page today: “Exxon profits: $39 Billion!”. The ensuing article goes on to tell how much stuff you could buy with $39 billion, and I’m thinkin....would’nt ya like to know where the $100 Billion the government took from you went to first. Of course, the mainstream media always seems to leave out that part in articles about the big bad oil companies. It’s ashame so many people are so DUMB...............................We’re all doomed!haha

the data is correct but the interpretation is wrong.. the $10.49 billion is what Exxon made after all the taxes were taken out.  take a look at the official SEC filing found here http://ir.exxonmobil.com/phoenix.zhtml?c=115024&p=irol-SEC
they paid $26.24 billion in taxes on a total revenue of $99.6 billion. take a look at the data again, and you actually thought they paid 2.5 times more in taxes than profit, no actual profit was $10.49 billion.  you dont work for an auditing firm, do you?

wow.  you really shouldn’t comment on economics…

they PROFITED $10 billion net.  they made ~$100 Billion.

so those taxes you mentioned are based on a much higher number than you let on in your blog…

-V

How fascinating!
A brief false post in February claiming Poor Exxon pays more taxes than earned. Quickly shot down abbot, ending the thread.

Too bad no apologies for the misrepresented facts. No defending or acknowleging the initial post.

Surely we are at war to grab oil!!

Peace, Clint

the $10.49 billion is what Exxon made after all the taxes were taken out.

That’s funny my accountants (and accounting teachers) told me taxes were an expense and the stockholders don’t care what the pretax profits are, they care about the after tax profits.

So the paid 2.5 times more in taxes they they kept after all expenses.

What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.

Morons,

At the end of the day, Exxon made $10.49 billion in profit.  Before reaching that profit they had to pay $26.24 billion in taxes.

Now tell me how much cheaper Exxon could have sold its gas for if they didn’t have to pay that $26.24 billion in taxes in order to make their $10.49 billion in profit?

Unless you, for some reason, don’t think that Exxon should make profits.  In which case you’re an even bigger idiot.

When the people fear their government, there is tyranny; when the government fears the people, there is liberty.

-- Thomas Jefferson

Rob’s recently listened-to songs:

So, mental midgets abbot and v, they made 10.49 profit, paid 26.24 in taxes, out of 100. Are you trying to tell us that the balance of that 100 just disappeared into someones pocket?
WRONG, morons. That 63.27 is the actual cost of doing business, drilling, pumping, transporting, refining, transporting, and storing. Salaries, equipment, insurance, pishkesh, lawyers, R&D, lawyers,,,etc etc. Get the picture, idiots?

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Part of, if not most of that 26.24 Billion in paid taxes is the added taxes at the pump, kinda of sales tax to the max. This money is not even added into the sales, they did not sell 100+Billion and pay 26.24 Billion in taxes they sold 100+Billion and only paid 7.68 Billion. We paid that 19+-Billion every time we purchased gas. They collected 19+-Billion in Sales tax. The oil companies are getting a free ride. You can not use “Sales taxes” in your figures this is not paying fair taxes based on profits. Now with that being said ExxonMobile tax rate is just about 8%. What is yours?
Also, do some research on the royalties paid now, and in 2000. You will find that the oil companies SUCK!!!

"WRONG, morons. That 63.27 is the actual cost of doing business, drilling, pumping, transporting, refining, transporting, and storing. Salaries, equipment, insurance, pishkesh, lawyers, R&D, lawyers,,,etc etc. Get the picture, idiots?”

What are you too stupid to understand here, stupid? Here is a hint. All taxes are paid by consumers. The more you tax any producer the higher their prices will go. Apply your kindergarten economics to everything sold in America, not just gas. Buy a clue, or is your big plan to tax them, too?

Una Salus Victus Nullam Sperare Salutem

Exactly right, taxes aren’t paid by businesses, they are paid by people.

Taxes on businesses such as utilities, oil companies and car manufacturers in the name of global warming are going to hurt consumers. 

Include regulations and caps in that.

When slimeball politicians say that they are lying and deserve your scorn, not your support.

What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.

Consumers choose which products to buy, that way they decide which taxes to pay.

Think the oil companies get anything for the taxes they pay? Who is putting up the money for rebuilding the Port of New Orleans?
Dredges the channels etc.?
Who protects their infrastructure world wide?

Think the oil companies get anything for the taxes they pay? Who is putting up the money for rebuilding the Port of New Orleans?
Dredges the channels etc.?
Who protects their infrastructure world wide?

As opposed to the government owned oil companies of Venezuela or Russia (Putin’s net worth is approaching $30B based on his holdings of Russian oil and gas firms).  You think Saudi Arabia and the Middle East governments own their oil companies?

Governments of oil producing countries by and large realize that oil is such a precious commodity for export and domestic consumption, that they broadly subsidize the production as well as the necessary infrastructure to produce it.

The US Democrats on the other hand thinks that Oil Companies are evil and need to be taxed out of existence.  They are way too profitable.  And every profit they achieve is on the backs of the American people.

This is an enviromental plot to increase oil prices as a means to decreasing consumption.  The Dems never tell you that higher oil prices are their idea as a way to get us less dependent on foreign oil.  Higher gas taxes.  Higher corporate taxes.  Forced restrictions on production.  Restrictions on refineries.  And then Dems pander to their poor base about rising gas prices, all the while doing all they can to raise them to appease their environmental base.  And in the meantime, higher oil taxes and prices are not only passed on to us every time we fill up, but every time we buy milk or eggs or bread or any other consumer product.

All taxes are revenue enhancement for the political class, if they are in excess of the actual cost of govt services connected with the taxed entity.
Is what the govt provides you worth the taxes you pay?

Save America; boycott the MSM.

The only entity getting a “free ride” is the govt.  The oil companies give us something we want for a fair price, and have enabled the economic vitality of this country to a great extent.  In other words, with the oil companies, we get a fair return for what we spend.  Not so for the govt.

Save America; boycott the MSM.

Have you not realized that your believes in the trickle down tax is failed. None of the republican candidates even talk about it. They can not it has failed!!!! TAXES HAVE TO COME FROM SOMEWHERE!!! Why make it harder for the consumer to buy something?? Answer this “ What gets paid out when a company makes more profits?” Be sure to take a look at how many jobs the oil companies have added before you reply. We should not tax the people and only tax the companies!! This is the only way to be sure that companies are profitable, BY GIVING THE PEOPLE THE MONEY TO SPEND. COMPANIES ARE NOT PROFITABLE IF THEY CAN NOT SELL THEIR PRODUCT OR SERVICE. I know your next response will be that then everything will cost way to much. No it will not simple answer “free enterprise”. 8% tax rate = FREE RIDE

GET YOUR HEAD OUT OF YOUR BUTT

GET YOUR HEAD OUT OF YOUR BUTT

Take your own advice, and learn some economics before you try to comment on something you don’t understand.
You don’t know what you are talking about.
The profit margin of the oil companies hasn’t changed; they are simply selling more product.  In fact, their material cost has increased by a larger factor than have pump prices in this country.  They are doing a great job!

Save America; boycott the MSM.

Learn economics?? you have failed to see that this is economics. I think I am going to start calling it the “New Trickle Down”. Reduce the taxes to the people to NOTHING!!  I earn a buck I put a buck in the bank… I invest it, I buy a house or a car or hell blow it on a vacation.... WOW is that economics 101

Pull your head out of your BUTT!!

Don’t drink the Kool-aide

johnnieboy’s big plan is to Nationlize the oil companies. Its disjointed ramblings throughout this thread are a poor cover for the standard leftarded stupidity.

Una Salus Victus Nullam Sperare Salutem

And woofie,"Think the oil companies get anything for the taxes they pay? Who is putting
up the money for rebuilding the Port of New Orleans?
Dredges the channels etc.?
Who protects their infrastructure world wide?”, glad to see you are onboard. That is exactly what their taxes pay for.

Una Salus Victus Nullam Sperare Salutem

Learn economics??

Yes, because you know nothing about the subject now.  Your ramblings are pure nonsense.

Save America; boycott the MSM.

never said to nationlize anything.
I will Ramble on…
Argue the facts your personal doesn’t mean anything with out the facts to back it up.

robert108 please drink all the kool-aide world doesn’t need you

"The profit margin of the oil companies hasn’t changed; they are simply selling more product. “

You are right the profit margins have not changed just their Tax rate

Why don’t you ask Bush to lower the taxes on the oil companies? Hopefully, you will figure it out when he tells you he cannot until the war in Iraq is over. Dummy.