Exxon Mobil paid no taxes in 09. They must have not made much money, I hear the oil business doesn't pay well.
my bad, their financial statement did not show any net income tax liability owed. but they did pay taxes, actually i was way off, they paid more than just about any other corporation. but........oil companies have received about 75 billion from 2000-2008 in subsidies, so i don't feel bad for them. You gotta pay to play. Now General Electric, in 2009 they profited 10.3 billion, and ended up getting back a tax benefit of 1.1 billion. How is that fair? GE, Exxon Paid No U.S. Income Taxes in 2009 - ABC News
I think people misunderstand the use of tax credits by corporations as well. It's not that corporations necessarily just get tax credits because they have lobbyists who get them free money. Many times, these corporations are buying tax credits that essentially go to financing loan income housing or other community projects for the poor. They can lower their tax burden by 5%-10% by buying a stream of credits that a developer can't fully take advantage of. That's tax dollars going directly to entitlement programs but it appears as if the company isn't paying its fair share.
Exactly.. Just like I said in my post... They pay it to the countries their wholly owned subsidiaries are in, to avoid the high taxation in the US. Exxon Says It Does Pay U.S. Income Taxes - Energy Source - How we power the world - Forbes How Exxon paid zero taxes in 2009
so in other words what you guys are saying that it's time for the middle class to suffer and stop getting a free ride because the rich and the corporations do too much already? interesting.
I'm not an economist so I don't know where the perfect balance lies but neither does anyone else here. The point is, you can't just hammer on the rich because they have money and can afford it. That's how you lose jobs that those "rich people" create. Also, it's hard to cry foul on the rich when there is such a high percentage of people paying no taxes and receiving government money for housing, food, etc.
Ge owns NBC who in turn owns msnbc. Interesting how they paid no taxes. I see why their boy had such a thrill go up his leg
