Posted on 05/01/2008 5:32:25 PM PDT by drbasketball
In the first quarter, Exxon-Mobil earned $10.9 billion, but at the same time paid a total of $29.3 billion in taxes...
(Excerpt) Read more at nationaleconomist.com ...
Don’t forget that share holders also will pay capital gains on their earnings on top of this tax.
If the oil companies are not collecting sales tax, how does it get to the government?
Point?
At the pump—your local 7-11.
That's rich, coming from someone like you who is a resident of New Hampshire. Thanks for keeping McCain's candidacy alive.
The retailers collect the sales tax and send it to their respective state governments (and, in some cases, the local governments).
“Corporations do pay taxes on their profits.”
And when they pay taxes they have less money to invest in new projects, new equipment and JOBs.
Not to slice and dice this point too much, but who are these "The retailers"? FTR, Corporations DON'T pay taxes. Blackbird.
Retailer = gas station
Don't be coy. "gas station" "Retailer", owned by? Come on now...Blackbird.
You have just confirmed my suspicion. Because I’m from New Hampshire, you’ve got me all figured out. Charming.
Define "independently owned" under the Exxon sign.
(i.e. not owned by "evil big oil")
are owned by "evil big oil".
Your attempts to mis-assign quotes notwithstanding. Blackbird.
Sorry, that's not the way it works.
Taxes are already figured into the cost of doing business
Example A: Corp pay no taxes (example does not exist in real life unless Congress gives them a tax break)
Gross Sales: $1.00
Cost of Goods:$.60
Gross profit:$.40
Operating Expenses: $.30
Income Before Interest Expenses (EBIT):$.10
Income tax expense: $.00
Net Income$.10
Example B: Corp pays taxes (Reality)
Gross Sales: $1.10 (higher prices)
Cost of Goods:$.60
Gross profit:$.50
Operating Expenses: $.30
Income Before Interest Expenses (EBIT):$.20
Income tax expense: $.10
Net Income$.10
The cost of paying taxes are paid by the consumer. Companies make the same income
Actually, I wasn’t quoting anyone in particular, I was only expressing sarcasm directed at people with a particular agenda.
The Exxon sign means that the station is either owned by Exxon, is owned by an independent distributor selling gas purchased from Exxon, or is owned by an individual selling gas purchased from Exxon.
The mere presence of the sign does not indicate which of the three possibilities is the case.
You’re nuts. That is not the way it works. Taxes is money. Real money that goes to the government.
If the INCOME tax rate is zero the expenses goes up or the NI goes up. When ever the government lowers corporate tax rates cap equipment has gone up.
You are a nut job,
You are so stupid I can’t believe it. Under you logic if the corp income taxes went to infinity the companies would be able to receive infinite Gross Sales. The problem with your stupid logic is that prices are not determined by companies. They are not they are determined by markets. The price demand curve is a curve it is not a line. Plus there is a giant supply chain suppling all those costs of goods - paying taxes on profits. You are really one of the classic Freepers with NO economic training. I would suggest before embarrass yourself any further you read Thomas Sowell.
Bottomline is that corporate income taxes takes money out of the market economy.
What part of that statement is incorrect, genius
That after all, was my point.
I even managed to post back to you without the infantile name calling in classic FReeper style
Note: this topic is from 05/01/2008. Thanks drbasketball.
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