"Over the past 25 years, according to the Tax Foundation, oil companies paid state and federal taxes of more than $2.2 trillion (in inflation-adjusted dollars). During the same period, the companies' profits totaled $630 billion — less than a third of the government's take. Government revenue from gasoline taxes alone has exceeded oil industry profits in 22 of the past 25 years."
Exxon earns about $0.10/dollar of revenue, which is far less than Coca-Cola, Intel, and many other large corporations. Ar e we asking for Coke to pay higher taxes? No. Heck, the government makes a higher profit per dollar of revenue, as well. Maybe they should tax themselves? Anyway, the fight against oil company profits shows a dissappointing lack of economic understanding. Too bad the people who run our country know little about economics, or they wouldn't be so upset with Exxon.

0 Comments:
Post a Comment
<< Home