Why is brett even in this discussion? His truck only has six cylinders. :shrug:
"It is not the result that counts! It is not the result but the spirit! Not what - but how. Not what has been attained - but at what price.
- A. Solzhenitsyn
Is that enough?
Corporate profits receive a lot of media attention, but what receives considerably less attention are the corporate taxes paid on corporate profits. Do a Google search for "Exxon profits" and you'll get about 8,000 hits. Now try "Exxon taxes" and you'll get a little more than 300 hits. That's a ratio of about 33 to 1.
I'm pretty sure that Exxon's tax payment in 2007 of $30 billion (that's $30,000,000,000) is a record, exceeding the $28 billion it paid last year.
By the way, Exxon pays taxes at a rate of 41% on its taxable income!
[Update: The $40.6 billion and $39.5 billion figures are after-tax profits. For 2006, Exxon's EBT (earnings before tax) was $67.4 billion, it paid $27.9 billion in taxes (41.4% tax rate), and its NIAT (net income after tax), or profit, was $39.5 billion.]
Over the last three years, Exxon Mobil has paid an average of $27 billion annually in taxes. That's $27,000,000,000 per year, a number so large it's hard to comprehend. Here's one way to put Exxon's taxes into perspective.
According to IRS data for 2004, the most recent year available:
Total number of tax returns: 130 million
Number of Tax Returns for the Bottom 50%: 65 million
Adjusted Gross Income for the Bottom 50%: $922 billion
Total Income Tax Paid by the Bottom 50%: $27.4 billion
Conclusion: In other words, just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers, which is 65,000,000 people! Further, the tax rate for the bottom 50% is only 3% of adjusted gross income ($27.4 billion / $922 billion), and the tax rate for Exxon was 41% in 2006 ($67.4 billion in taxable income, $27.9 billion in taxes).
Mark J. Perry, Ph.D.
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"The trouble with socialism is that you eventually run out of other people's money" --Margaret Thatcher
Yes, coal is horrible...no wonder Texas wants to burn as much as they can.
But I think your comment about personal vehicles not making a difference. If everyone thought as you do, no one would have bought a hybrid, no one would have started participating in recycling programs, etc.
I'm more of a think global, act global kind of guy, but dismissing individual consumer participation as you're doing is wrong and short-sighted. Sure, one Prius won't make a differences, but a lot of them do: heightened public awareness (of alternative enegry sources, of taking another approach, of hybrids, etc), money generated for further hybrid/alt fuels research, lower cost hybrids, and so on.
"Active management in bear markets tends to outperform. Unfortunately, investors are not as elated with relative returns when they are negative. But it does support the argument that active management adds value." -- independent fund analyst Peter Loach
www.dpsskis.com
www.point6.com
formerly an ambassador for a few others, but the ski industry is... interesting.
Fukt: a very small amount of snow.
"Active management in bear markets tends to outperform. Unfortunately, investors are not as elated with relative returns when they are negative. But it does support the argument that active management adds value." -- independent fund analyst Peter Loach
Saving gas is not green. Buying a new car regardless of its "efficiency" is not green.
Imo, the sooner we burn up all the oil the sooner there is alternative fuel. That's how capitalism works. So, if you truly want to accelerate the move to alternative fuel and efficient transportation burn as much gas as you can. The sooner it's gone the sooner we move on.
Cuz most of the idiots in these kind of discussions are pretty clueless, and it's fun to stir the pot and watch people make asses out of themselves.
Here's some more fun trivia for you, my truck has two batteries, one on each side of the engine compartment, i know you wanna touch me.![]()
"The trouble with socialism is that you eventually run out of other people's money" --Margaret Thatcher
"It is not the result that counts! It is not the result but the spirit! Not what - but how. Not what has been attained - but at what price.
- A. Solzhenitsyn
I was whining just to whine
Adolf, I do have a job, I just work as seldom as possible. Just pointing out that students in general live on a pretty shitty "salary" here, for being a socialist country and all.
We already have shitloads of oil. Our government is just better at taxing the oil/gas/diesel than yours. On all other fronts than taxation, you´re correct about us having a pussy ass government. I really can´t see where the tax payers´ money go. Quasi-pinko scum.
Heh. I really can´t complain about my income taxes, as I virtually have no such thing as an income this year. I´m not sure, but I think you too have a somewhat ugly taxing part on tobacco and alcohol - unhealthy stuff?
For regular merchandise, such as skis, snowboards, clothes (essentially non-foods) we pay 25% taxes. For food, we pay 12% or so. This is in addition to estate taxes (though this is something every region/county/etc decides for themselves) and income taxes(about 30-40% for an average income, I believe). I pay 9% currently, by the way. Heh. It´s funny how the socialist government effectively lessened the tax burden for the richest when claiming those were going down at election. Politics are the same everywhere with that kind of people.
While we do pay a lot of taxes, it´s not the end of the world; it´s been that way for the past 60 years, so I guess you can say we´re herded into thinking it´s ok.
I think a happy medium is where it should be. Something a "tad" less socialist than Norway, not as liberalist as the US. The UK doesn´t count, they´re even more patriot acted than you guys are.
Back to topic! - To which I have nothing to contribute.
Come live here, get a job, and see how you like paying those taxes.
You are entirely correct, though, it´s a great country to live in, but if you don´t get sick or have children who should go to school, chances are you´ll never see much of your tax money. It is a very expensive country to live in, and you may ask anyone who´s ever been on vacation here, see what they have to say.
The typical Swede(Sweden is our eastern neighbor) you meet in Norway, either working or on vacation, brings every edible thing he/she can pack, just because of the expense of living.
He is a poor chump that should have discovered another petroleum based product-rubbers.
I have no sympathy for anyone with 5 kids bitching about anything. That's just irresponsible and is just as bad of a decision as the guy driving the Hummer.
Population is the cancer of the earth. I think the earth would function just fine without humans.
And don't get me starting on tax breaks for children. It's a poor policy. You have them, they use more of the tax based resources, you should pay more. What a fucked up system.
Last edited by Conundrum; 02-14-2008 at 01:43 PM.
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