Re: Breaking down the numbers I didn't ask if Exxon deserved to pay more, I asked why they deserved tax breaks when they are posting unprecedented profits. No one is hurting over at Exxon.
Exactly. The question was . . . "Why do they deserve $1.2 Billion in tax breaks annually." What is it an incentive for? How does it help the US taxpayer or consumer to give them this break?
First I should apologize for misspelling "they're". That pretty embarassing. Secondly, it's not a matter of "why does exxon deserve a break?". It's a matter of large corporations and what amount of tax is fair. If you tax someone 100% then back it off to 98% that's a tax break but it still doesn't make the tax situation fair to them. I'm not totally versed on corporate taxation but if Exxon Mobil is taxed 42% as someone indicates, that's too much. It's not a matter of Exxon Mobil, but a matter of other organizations who will cut jobs and growth due to this high tax bracket.
Joe is risking everything to go out on his own and Joe's success will depend on Joe's hard work. Why should Betty the Cashier benefit from that? It helps because Exxon will pour that money into R&D, exploration, ugrading refineries, etc. Joe the Taxpayer gets to continue driving his internal combustion motor coach.
Re: Breaking down the numbers If that's Obama's plan...great. But let's do the same thing for all the make believe BS programs environmentalists want us to pay for. I don't want a single tax break or subsidy for programs supported by millionaires like Al Gore.
Because they have 1.2 billion less in expenses to pass on to us. Because they have 1.2 billion more to hire people, to improve technology, to bonus their top performers, to explore, to drill, and invest in renewable energies. What have they done to not deserve these tax breaks except be successful?
Some woman just won one million dollars on "Are you smarter than a 5th grader?" She better go hide from Obama quick! :hihi: She doesn't deserve it...she's evil...give it to the "poor"
They just made $46 Billion in profits! Why don't they use that to build new refineries? Why should the taxpayer have to carry water for these wealthy corporations? They are a profitable compnay and doing well. Why do they need MY help? By the way, they haven't guilt a new refinery in this country in over 30 years. The top Corporate tax rate is 35% for companies earning $18 million or more a year.
