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Exxon ALONE pays MORE IN TAXES than the bottom 50% of American taxpayers...Exxon pays BILLIONS in taxes and gets an R&D tax break of MAYBE a couple million... Other taxpayers get to have write offs, Exxon should be NO different no matter how much money they make - They pay MORE than their "fair share"For Exxon:net income of $11.68 billion. That works out to $1,485.55 a second. US Gov cut from Exxon:PURE profit (they do NO work) of around 33 Billion (Big Oil pays 3 times in taxes what they earn in profit) and that works out to around: $4500.00 a second.And thats not even counting the Royalties, land leases, property taxes and many other forms of Gov collection from oil companies... Once you add those in, Big Gov makes 4.5 times as much "Profit" as Big Oil on the sale of the SAME product.Government is the one making "Obscene Profits" from the sale of oil. Letting those overtaxed companies write off R&D is a good thing... SUBSIDIZING Ethanol to the tune of $1.38 PER GALLON is not.
Exxon ALONE pays MORE IN TAXES than the bottom 50% of American taxpayers...
Exxon pays BILLIONS in taxes and gets an R&D tax break of MAYBE a couple million... Other taxpayers get to have write offs, Exxon should be NO different no matter how much money they make - They pay MORE than their "fair share"
For Exxon:
net income of $11.68 billion. That works out to $1,485.55 a second.
US Gov cut from Exxon:
PURE profit (they do NO work) of around 33 Billion (Big Oil pays 3 times in taxes what they earn in profit) and that works out to around: $4500.00 a second.
And thats not even counting the Royalties, land leases, property taxes and many other forms of Gov collection from oil companies... Once you add those in, Big Gov makes 4.5 times as much "Profit" as Big Oil on the sale of the SAME product.
Government is the one making "Obscene Profits" from the sale of oil. Letting those overtaxed companies write off R&D is a good thing... SUBSIDIZING Ethanol to the tune of $1.38 PER GALLON is not.
