Their profit margin is 9.8%. This is a very respectable profit but much less than many other major industries. I would be absolutely delighted if all government entities taxed me at the same percentage as Exxon Mobil's profit percentage.
My taxes are as follows:
SS 14.7% My share and my employers share combined.
Income tax 22%
State taxes and real estate taxes approximately 9%
My total percentage of direct taxes is 45.7%
What most people do not realize is that the cost of taxes of a business is included in the price of every damn thing they buy. They hidden tax on every thing you buy is about 25%. Thus your total taxes is actually about 10% more than your direct taxes you can see on your pay stubs and tax bills from the state, feds and local governments.
my total tax bill is thus about 55% of every dollar my wife and I make.
THAT MRS. CLINTON IS OBSCENE CONFISCATION OF MY MONEY. EXXONS PROFITS ARE MINISCULE AS COMPARED TO THE PERCENTAGE OF MONEY GOVERNMENT ENTITES CONFISCATE FROM ME!
Good summary, but you missed a lot of them. (Not all will apply to everyone at all times.) ;)
Accounts Receivable Tax
Administration to national parks or hike in national forests.
Airline ticket tax
Automobile tax
Building Permit Tax
Business tax if you have a business
Capital Gains Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Court Fines (indirect taxes)
Dog License Tax
Electricity tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel permit tax
Garbage tax
Gasoline Tax (42 cents per gallon)
Hunting License Tax
Inheritance Tax Interest expense (tax on the money)
Income tax
Inspection tax
Interest paid
Inventory tax IRS Interest Charges (tax on top of tax)
Investment tax
IRS Penalties (tax on top of tax)
Land lease tax
Liquor Tax
Local Income Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Natural gas tax
Pet license tax
Property Tax
Real Estate Tax
Rent tax
Road tax
Room tax at motel
Septic Permit Tax
Service Charge Taxes
Social Security Tax
Road Usage Taxes (Truckers)
Sales Taxes
Recreational Vehicle Tax
Road Toll Booth Taxes
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Tariffs - Poorer Americans are also taxed heavily for their food. Because of high tariffs, consumers pay dearly for the sugar they put on their breakfast cereal, the concentrated orange juice they drink, peanut butter sandwiches, and so on.
Telephone federal excise tax
Telephone federal universal service fee tax
Telephone federal, state and local surcharge taxes
Telephone minimum usage surcharge tax
Telephone recurring and non recurring charges tax
Telephone state and local tax
Telephone usage charge tax
(Look at your telephone bill sometime.)
Tobacco tax
Toll Bridge Taxes
Toll Tunnel Taxes
Traffic Fines (indirect taxation)
Trailer registration tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Water craft registration Tax
Water tax
Well Permit Tax
Workers Compensation Tax
http://www.nmia.com/~bobpace/taxit.htm
During the 80's-90's the supermarket chains saw their profit margins go from a comfortable 2% to well below 1%. As far as I know, they're still down there.
SS 14.7% My share and my employers share combined.
Income tax 22%
State taxes and real estate taxes approximately 9%
My total percentage of direct taxes is 45.7%
___
I think mine is worse, how can I make over 100K a year and be broke?
I'm too rich!