Comments on: ExxonMobil tax facts – the ones you won’t see in the news http://www.exxonmobilperspectives.com/2012/04/17/exxonmobil-tax-facts-the-ones-you-wont-see-in-the-news/ Mon, 20 May 2013 18:52:16 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: bloom lake http://www.exxonmobilperspectives.com/2012/04/17/exxonmobil-tax-facts-the-ones-you-wont-see-in-the-news/comment-page-1/#comment-2096 bloom lake Fri, 04 May 2012 18:13:00 +0000 http://www.exxonmobilperspectives.com/?p=5819#comment-2096 This is a good article from the oil company perspective. However the tax issues are not fully answered. The Oil is a natural resource of the land and the environment. Oil and mining companies can not be compared to manufacturing (GM, Ford) or Technology Companies (Apple, Microsoft). Most countries treat Oil companies as not for profit company to the benefit of the end users and consumers. Oil prices and interest rates affects overall productvitity and the economic output globally especially in the USA. Excessive profits at Oil companies drains the total economy, and it does not matter how much taxes are paid. Simply put, the higher taxes paid by Oil company then higher taxes are paid by the people. Unfortunately, Exxonmobil pays nearly 2/3 of their taxes abroad, and hence US govt need to regulate Oil prices, just as they regulate interest rates at banks. Most people can do without highpriced Ipad (Choices) , but not without highpriced oil (No other Choice). This is a good article from the oil company perspective. However the tax issues are not fully answered. The Oil is a natural resource of the land and the environment. Oil and mining companies can not be compared to manufacturing (GM, Ford) or Technology Companies (Apple, Microsoft). Most countries treat Oil companies as not for profit company to the benefit of the end users and consumers. Oil prices and interest rates affects overall productvitity and the economic output globally especially in the USA. Excessive profits at Oil companies drains the total economy, and it does not matter how much taxes are paid. Simply put, the higher taxes paid by Oil company then higher taxes are paid by the people.
Unfortunately, Exxonmobil pays nearly 2/3 of their taxes abroad, and hence US govt need to regulate Oil prices, just as they regulate interest rates at banks. Most people can do without highpriced Ipad (Choices) , but not without highpriced oil (No other Choice).

]]> By: Mary Bawa http://www.exxonmobilperspectives.com/2012/04/17/exxonmobil-tax-facts-the-ones-you-wont-see-in-the-news/comment-page-1/#comment-2071 Mary Bawa Mon, 23 Apr 2012 21:12:33 +0000 http://www.exxonmobilperspectives.com/?p=5819#comment-2071 I was surprised to see that Forbes had actually published an article about how much ExxonMobil pays in taxes: http://www.forbes.com/sites/christopherhelman/2012/04/16/which-megacorps-pay-megataxes/ I was surprised to see that Forbes had actually published an article about how much ExxonMobil pays in taxes:
http://www.forbes.com/sites/christopherhelman/2012/04/16/which-megacorps-pay-megataxes/

]]> By: warren miller http://www.exxonmobilperspectives.com/2012/04/17/exxonmobil-tax-facts-the-ones-you-wont-see-in-the-news/comment-page-1/#comment-2064 warren miller Sat, 21 Apr 2012 16:02:40 +0000 http://www.exxonmobilperspectives.com/?p=5819#comment-2064 Why is it when we look at Exxon, we can look at a full balance statement; income and expenses down to the penny and analyse their relationships? But when we look at the corporation of the US Government we cannot look at all income streams and expenses in a complete balance statement? 54% of the people pay personal income tax and 46% not only don't some get money back anyways. Demonizing big business is just a way to keep the masses fighting each other so they do not see the demonizing government for what politicians have turned it into. Why is it when we look at Exxon, we can look at a full balance statement; income and expenses down to the penny and analyse their relationships? But when we look at the corporation of the US Government we cannot look at all income streams and expenses in a complete balance statement? 54% of the people pay personal income tax and 46% not only don’t some get money back anyways. Demonizing big business is just a way to keep the masses fighting each other so they do not see the demonizing government for what politicians have turned it into.

]]> By: warren miller http://www.exxonmobilperspectives.com/2012/04/17/exxonmobil-tax-facts-the-ones-you-wont-see-in-the-news/comment-page-1/#comment-2063 warren miller Sat, 21 Apr 2012 15:56:40 +0000 http://www.exxonmobilperspectives.com/?p=5819#comment-2063 I believe the barrel price of oil is distributed like this: 75% goes to the oil producer as in Saudi Arabia or Venezuela, etc. Taxes are about 17% and only 8% goes to the oil company. The oil company gets the oil out, ships it, refines it, distributes it, and then makes profit from this 8%. Exxon should be recognized for not only the taxes they pay but the management of running a company on 8%! I believe the barrel price of oil is distributed like this: 75% goes to the oil producer as in Saudi Arabia or Venezuela, etc. Taxes are about 17% and only 8% goes to the oil company. The oil company gets the oil out, ships it, refines it, distributes it, and then makes profit from this 8%. Exxon should be recognized for not only the taxes they pay but the management of running a company on 8%!

]]> By: Jeff Romeo http://www.exxonmobilperspectives.com/2012/04/17/exxonmobil-tax-facts-the-ones-you-wont-see-in-the-news/comment-page-1/#comment-2060 Jeff Romeo Fri, 20 Apr 2012 16:07:31 +0000 http://www.exxonmobilperspectives.com/?p=5819#comment-2060 Ken, good article. It's unfortunate when the press and politicians demonize highly profitable companies simply because they provide a necessity to the public but have nothing but praise for companies who make no secret of gouging the public on luxury items (even when questionable labor practices are involved in their production). That aside, I do have a question about your article. Did you include the Federal and Local gas pump taxes in your calculation of XOM’s U.S. tax burden? If so I’d like to see what XOM’s U.S. tax burden is without the pump taxes. Ken, good article. It’s unfortunate when the press and politicians demonize highly profitable companies simply because they provide a necessity to the public but have nothing but praise for companies who make no secret of gouging the public on luxury items (even when questionable labor practices are involved in their production).
That aside, I do have a question about your article. Did you include the Federal and Local gas pump taxes in your calculation of XOM’s U.S. tax burden? If so I’d like to see what XOM’s U.S. tax burden is without the pump taxes.

]]> By: Alexander Moyes http://www.exxonmobilperspectives.com/2012/04/17/exxonmobil-tax-facts-the-ones-you-wont-see-in-the-news/comment-page-1/#comment-2056 Alexander Moyes Thu, 19 Apr 2012 16:40:36 +0000 http://www.exxonmobilperspectives.com/?p=5819#comment-2056 Ken, another great article. I really appreciate hearing these facts, because your right, this kind of news will likely never be reported in the media. It's sad we live in a time where the largest contributors, corporations and individuals alike, are the ones who are demonized and told they aren't doing enough. Often times the finger pointing comes from those who contribute little or nothing....which is a very convenient way to live and they want to keep it that way. Ken, another great article. I really appreciate hearing these facts, because your right, this kind of news will likely never be reported in the media.

It’s sad we live in a time where the largest contributors, corporations and individuals alike, are the ones who are demonized and told they aren’t doing enough. Often times the finger pointing comes from those who contribute little or nothing….which is a very convenient way to live and they want to keep it that way.

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