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State and Federal Treasuries "Profit" More from Gasoline Sales than U.S. Oil Industry
Tax Foundation ^
| 10/26/05
| Jonathan Williams and Scott A. Hodge
Posted on 02/03/2007 1:08:19 PM PST by conservative in nyc
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This study is a little over a year old, and doesn't include 2005 or 2006 data. But it is something to keep in mind the next time a certain shrill politician yells "I want to take those profits, and I want to put them into a strategic energy fund!" Politicians are ALREADY taking more from the oil companies than they make in U.S. profits.
More (including tables and figures) at the link.
To: conservative in nyc
This study is a little over a year old, and doesn't include 2005 or 2006 data. But it is something to keep in mind the next time a certain shrill politician yells "I want to take those profits, and I want to put them into a strategic energy fund!" Politicians are ALREADY taking more from the oil companies than they make in U.S. profits.Politicians regard capitalism as a cash cow to be milked for goodies.
To: conservative in nyc
Politicians are ALREADY taking more from the
oil companies US consumers than
they Oil Companies make in U.S. profits.
Fixed it. Fuel taxes come directly from the pockets of consumers, for that matter Oil company profits do too. Additionally, if the idiot pols raise the gas tax to reduce consumption, then the Oil companies profits' suffer even more. Dems are retarded.
3
posted on
02/03/2007 1:14:19 PM PST
by
American_Centurion
(No, I don't trust the government to automatically do the right thing.)
To: ModelBreaker
I guess our commie pols expect the oil companies to also give back their profits - work for nothing.
Before this is over the oil companies will be lucky if the pols think they should even be allowed to break even.
4
posted on
02/03/2007 1:15:51 PM PST
by
Let's Roll
("...given the choice between war and dishonor. You chose dishonor - you will have war"- W.Churchill)
To: conservative in nyc
I think that most of us can agree that anything Jimmy Carter did to hurt the oil companies is bad business.I remember those lines around the block.
As for a strategic energy fund lets just call that what it is. Highgrade theft,experimentation in boondoggles, and political Bull. Just money thrown in the toilet
We all know that any tax on oil companies will be paid by the consumer, only a fool would think differently/ Hilary already knows that she just thinks we are all fools. And judging by her support there ARE many fools out there.
5
posted on
02/03/2007 1:15:58 PM PST
by
sgtbono2002
(I will forgive Jane Fonda, when the Jews forgive Hitler.)
To: conservative in nyc
Politicians are ALREADY taking more from the oil companies than they make in U.S. profits.
----
I would quibble one bit: Politicians are taking the taxes from us (the taxpayers) - the gas station just collects it.
Also: who will pay if all profits are seized from oil companies - you and I the average joe shareholders.
To: conservative in nyc
too funny...12.3 billion = flat profits
7
posted on
02/03/2007 1:19:06 PM PST
by
stylin19a
To: American_Centurion
Fair enough. Exxon Mobil has paid $20 Billion more in U.S. taxes ($60 Billlion) over the past 5 years than its U.S. profits. Granted, some of those taxes were likely excise taxes ultimately passed along to consumers.
To: conservative in nyc
She's speaking for all of them, so pay attention.
9
posted on
02/03/2007 1:29:03 PM PST
by
SandRat
(Duty, Honor, Country. What else needs to be said?)
To: conservative in nyc
I didn't know that. Makes the Dims statements even more ridiculous, and I didn't think they could be. Obscene profits? More like obscene confiscatory taxes.
10
posted on
02/03/2007 1:31:22 PM PST
by
American_Centurion
(No, I don't trust the government to automatically do the right thing.)
To: conservative in nyc
exploration is taxed (by permitting)
emplacement is taxed (by permitting)
extraction is taxed (mineral rights fees)
transport is taxed (import/export/haulage/vehicles)
refining is taxed (permitting/enviro fees/property/school)
wheeling is taxed (pipeline operation/permitting)
storage is taxed (ditto above + disaster response fees)
producer profits are taxed
product is taxed
retailer is taxed (profits/land/school/enviro/excise)
purchaser is taxed (all that)
evaporation/loss is taxed (paid on gross deliveries)
you figure it out...
11
posted on
02/03/2007 1:34:24 PM PST
by
xcamel
(Press to Test, Release to Detonate)
To: conservative in nyc
ALL fuel sources are heavily taxed by ALL governments..
The greatest mistake ANY government could make..
Because its parasitic.. on the people..
NO Government on this planet OUTLAWS fuel taxes..
The United States should be THE FIRST government to outlaw fuel TAXES..
12
posted on
02/03/2007 1:34:52 PM PST
by
hosepipe
(CAUTION: This propaganda is laced with hyperbole....)
To: conservative in nyc
If the receipts that the gas pumps spit out showed the taxes the Federal, State and Local governments were sucking up there would be no question as to who the "big" business was. It would also be nice to be able to write off those confiscations on our income taxes.
To: conservative in nyc
Thanks for posting this. I have argued with friends that the government makes more than the oil companies and they don't believe me.
Here in Spokane, Washington, we enjoy the highest prices in the country thanks to the Washington state tax (kept in place despite a surplus). We also have a environmental tax on gasoline due to stringent requirements which make our gasoline more expensive and less profitable for refineries to make (less supply).
Despite this, our local media continues to run those "X on your side" investigative reports that fail to mention these facts. Our liberal congresswoman Maria Cantwell also called for hearings into our gas prices. I bet the hearings won't mention these facts either.
14
posted on
02/03/2007 1:38:19 PM PST
by
volunbeer
(Dear heaven.... we really need President Reagan again!)
To: Let's Roll
No, the next step is nationalization. What the hell; we have a Socialist Party in power now, so why not?
To: American_Centurion
To: hosepipe
It is ironic that the left greens want high gas taxes to further their agenda yet high gas taxes hurt the poor the most.
The "inequality" they talk about so much if promoted by their very own taxes on energy and food.
17
posted on
02/03/2007 1:40:13 PM PST
by
volunbeer
(Dear heaven.... we really need President Reagan again!)
To: conservative in nyc
Always trying to screw the public, I see.
To: conservative in nyc
Thanks for that link.... a cut and paste of the most important part -
"also noted the company's (Exxon) U.S. tax obligation in the past five years was about $60 billion -- about $20 billion more than its U.S. net income for the same period.""
19
posted on
02/03/2007 1:47:51 PM PST
by
volunbeer
(Dear heaven.... we really need President Reagan again!)
To: conservative in nyc
Thanks for the data! I'm going to go take it to where it needs to be heard.
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