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Just as Wal-Mart's meteoric rise during the Clinton admin was: just a coincidence; nothing to see here.
http://rawstory.com/news/afp/ExxonMo..._02012008.html
7 years of head's still secret National Energy Policy (aka invade Iraq and de-stabilize M/E, then Iran) and no effective plan to reduce oil consumption.
Just as Wal-Mart's meteoric rise during the Clinton admin was: just a coincidence; nothing to see here.
Wal-mart got ahead by predatory tactics and excellent logistics and paying sub-poverty wages, engineering well-paying jobs to a minimum, not via Clinton connections.
What exactly did the Clintons do to promote Wal-mart?
Well, I can say this, Clintons didnt declare war in the region of Wal Mart's primary source of product.
Well, duh, if they did that who would make the products?
Most Favored Nation China - while there were still warm bodies in Tiananmen sqaure.
But, again, the growth just must be a coincidence. Arkansas company, Hillary on the board of directors; there stock grows exponentially; record profits while the Clintons are in the WH.
I have a $4.00 christmas tree stand I bought at Wal-Mart in 1993.
Made in USA.
101A, you should keep that bad boy, anything sold by Wal-Mart that was made in the US has got to be worth something.
Amen to THAT.
When Social Security goes broke, I'll still have that red and green treasure to retire on.
Exxon-Mobil made billions...........must be Bush's fault.
Hey boutons, Tesoro lost money. Bet you bought some of their
stock didn't you? 40 Mil in 4Q. You going to through a party?
I see you don't shop at wal-mart. They do have other items even today that are made in the USA!
That means they probaly paid $28.7 billion in taxes, $800 million more than the year before. You tax loving liberals should be estatic!
I'm sure Exxon will pay way less than the max corp tax rate, after all the write-offs, depreciation, subsidies, grants, lease royalties uncollected, etc, etc from the oil men in the WH.
If Warren Buffet pays only 17%, way under what his secretary pays, I'm sure Exxon know how to figure out how pay under 20%.
Last edited by boutons_; 02-01-2008 at 11:02 PM.
Don't worry Boutons. Hillary will be going after those capital gains tax rates soon enough.
That'll really screw the middle cl eerrrrrrrr wealthy...
Didnt the Clinton administration give China our nuclear secrets or was it something else? Or was it that agreement with Kim Jong Ill that we gave them some nuclear reactor stuff and they promised not to make weapons?
How much is that secretary making?
Lemming alert... You fell for that one? That is percentage. You probably realize that. However, Buffet's income is from different sources like dividends and capital gains. He also doesn't pay the 7.45% payroll tax. His secretary would be lower percentage wise if she didn't have to pay the payroll tax.
Most people who actually pay taxes, have write offs.
Want to eliminate write off? Lets say you cannot deduct medical, college, interest on a house, etc. How would the people react to you hating write off?
Now a little more realistic. Exxon's 2007 number should be about proportional to their 2006 numbers. I haven't seen the complete 2007 data, so consider the 2006 data:
Exxon had a revenue of $377.635 billion They had a net income of $39.5 billion which is a 10.46% margin. This 10.46% last time I looked was in the bottom third for profit margins within the Fortune 500. They paid $29.902 billion in taxes, or 7.39%. 70.74% as much in taxes as their net profit.
It cost Exxon $213.255 billion to make that gross revenue. That makes their gross profit $164.38 billion. Of this, they paid a tax rate of 16.97%.
When you subtract various operating expenses, their taxable income is now $67.402 billion. The tax rate on this is 41.4%. I'll bet that it is 35% federal, and 6.4% state and other taxes.
You cannot be expected to pay 35% from a revenue standpoint. If they paid 35% of their revenue, they would pay $132.172 billion in taxes. They would have only a 3.221 Billion gross profit. Their net income would have been a loss of $6.307 billion after paying normal expenses. I guess you want all the oil companies o go bankrupt so we no longer have gasoline?
If they paid 35% of the gross profit, it would be $57.533 billion. Their profit would be down to $9.869 billion. Would that make you happy? That makes their profit margin only 2.61%. Corporations don't stay alive with such low numbers.
You should look up how much oil we import from Iraq, compared to everywhere else. Seriously, look it up.
So why is it we need to extend the tax cuts for rich when they are paying a smaller percentage then the rest of us?
Yep...
When you look at it from a crude oil perspective, Iraq contributes about 4%. It is our 6th source for imports.
November 2007 graph:
Consider this. From some countries, we get refined products too. The percentage drops to 3% from Iraq when you look at it in those terms, the petroleum and crude standpoint instead of just crude oil.
First of all, not all of them do. It depends on their income source.
Many of them are being double taxed. Income from stocks, as a shareholder, they already paid corporate taxes, and their profit was already reduced. Now they pay a capital gains tax on their dividends too? Realistically, they are paying more. It's just hidden.
I can agree with no limit of the Social Security tax, but many don't pay that because it is not a payroll check many rich get their income from.
I would personally like to see everyone pay the same percentage on income. Still, this "get the rich" band wagon many of you are in is moronic. They still pay far more than we likely ever will in one year, than we make in a lifetime. The fact they pay more, isn't that enough?
There are so many situations that are different. I do agree with a low capital gains tax because it encourages growth. I would advocate a zero tax rate on dividends, because like I said, the stock profits were already taxed.
can't you see that the oil compaines are the ones raising gas prices, by funneling the oil. they say there are not a lot enough refiniries, but drag their feet to build more. it is in their best interest to make refined gasoline harder to get to consumers....ergo......$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$...............in profits.
When we will be using DeLoreans that run off of garbage?
We don't need no facts in here.
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