I also did some math based on the data provided on the financial charts at the link. Here is some perspective:
$31.4B revenue / 1.447M vehicles sold = $21,700 average revenue per vehicle sold
$1,829,000,000 in pre-tax profit = $1,264 in average per unit pre-tax profit
$1,203,000,000 in after tax profit = $831 in average per unit after tax profit
$1,264 – 831 = $433 in average per unit tax
In other words the corp tax rate for Ford is 34.26%, but more interestingly is that for every car they build the government ends up with more than 50% than their own average per vehicle profit. The government adds no value, yet they “profit” more than half as much as the producer!
The last federal budget was around $2.2-2.5T and we have an annual deficit of $1.0-1.2T, so using the low end of that our spending this year will be $3.2T minimum. Ford’s first half pre-tax profit for 2012 has been $4.122B, so if I just times that by 2 the full year pre-tax profit would be $8.244B.
$3.2T / 365 days per year = $8.76B federal spending per day / 24 hrs = $365M per hour federal spend rate
$8.244B / 365M = 22.58 hours…..
If we raised corporate taxes to 100% of profit, then Ford’s profit, a fortune 10 company, would sustain 22.58 hours of federal spending! Well, at least for the first year. After that, there would be no profit to tax…..
obozo is scrambling right now to give us the reason Ford has been so successful!!! It surely has something to do with him!
We are thinking about purchasing a Ford. We like the roominess of the new Escape...but also the gas mileage of the Taurus hatchback. Any thoughts?
(Yes, we KNOW about the problems, which we expect will be fixed, on the Escape.)
Its kind of interesting when you think about it. $1 billion isn’t all that much in the grand scheme of things and the left thinks that taking that money away will solve all of our problems.
In contrast, Michigan’s sport fishing industry is worth somewhere between $7 and $10 billion per year and that’s almost exclusively small business.
Its the grand fallacy of the democrat argument.
Ford didn’t earn that.
Good performance, especially now. Hope F takes a big leap.
My, my...I guess Ford is doing this on their own, without the federal government’s help. The First Dictator will have to penalize them for that.
Our next vehicle will be a Ford.
How dare they?!?!?!?!
How dare they make a huge profit on the backs of their exploited workers!
How dare they make a huge profit from the near slave labor conditions that they impose on foreign workers in their plants overseas!
How dare they make a huge profit from the CO2 pollution belching SUV urban assault vehicles when our children want to breathe clean air!
How dare they rake in fistfuls of money when many people of this country are homeless and living in squalor all across the land!
How dare they make a huge profit in the name od that worldwide evil: CAPITALISM!!!!!
/s
But, but...surely there was a bridge involved?
I own a Ford F150. Over my dead body will I ever own a GM or Chrysler product from Government Motors. FU Barry Soetoro, you corrupt POS.
New Mustangs are extremely nice - good competition for the Camaro (which I still like better, but not buying GM).