Guess those huge campaign contributions to Bush/Cheney really paid off.
Exxon sets U.S. mark for quarterly profit - Jul. 31, 2008
Exxon sets U.S. mark for quarterly profit - Jul. 31, 2008
Exxon Record Profits
- Thread starter redytrk
- Start date
after reading the article fully...they made 12 billion on revenue of 144 billion....thats what 8% profit?
What I am really against and I see the committee has even highlighted it....
This also happened yesterday with the release of a report that gas reserves were low oil increased almost 5 bucks a barrel.
They drop production at refineries and Wall street turns around and claims an inventory shortage and UP goes the speculation price!! Now that should be price manipulation at it's best!
B/C had nothing to do with the profits and when taken as a percentage of revenue they are nowhere near the top. Additionally, a large amount of that goes back into the company and a large amount pays out to the owners of the company and that's millions of individuals who own stock. Instead of worry about what the numbers were and using it as another reason to bash Bush folks should start focusing on Pelosi and Reid. THEY are the problems in this equation, not B/C.
EagleRiverWI
Seasoned Expediter
How much were the record profits made by the government on this oil?
Bet they paid record taxes too. Layoutshooter
Their margin of profit is small by comparison to other industries.
They only represent 3 percent of the world oil supply which is a dot.
Real simple solution. Don't like it, invest in Exxon. Dividends have been clicking on a good number for several years. If one invested when Enron tanked, you should be paying about half what you see at the pump with a minimal investment.
This quarter they spent 38% on exploration with the rest going to the company and stockholders.
What else is there to know?
Make your savings through dividends, or if the stock slows, then prices at the pump will be less.
They only represent 3 percent of the world oil supply which is a dot.
Real simple solution. Don't like it, invest in Exxon. Dividends have been clicking on a good number for several years. If one invested when Enron tanked, you should be paying about half what you see at the pump with a minimal investment.
This quarter they spent 38% on exploration with the rest going to the company and stockholders.
What else is there to know?
Make your savings through dividends, or if the stock slows, then prices at the pump will be less.
Last edited:
late4dinner
Seasoned Expediter
Yep, we sure do need to keep giving the oil companies tax breaks. For that matter give everyone more tax breaks. Who cares if we don't have money to pay for road repairs or any other government service. Spend like there is no tomorrow. After all there will be new generation to come along and pay for our mistakes.
greg334
Veteran Expediter
Sorry guys/gals but Exxon don't get any real tax breaks.
TO be exact, BP and Citgo and others get big tax breaks - not Exxon. Citgo for example gets a bunch of foreign investment tax breaks, they appear to pay a lot but in reality they don't pay much at all. So much for money going to a country that hates us.
AND to put this in perspective....
Exxon pays about $27 BILLION in taxes averaged over the last three year (their tax rate is about 41%).
According to IRS with their latest data (2004), the bottom 50% of the tax payers paid in 2004 tax year $27.4 BILLION.
TO be exact, BP and Citgo and others get big tax breaks - not Exxon. Citgo for example gets a bunch of foreign investment tax breaks, they appear to pay a lot but in reality they don't pay much at all. So much for money going to a country that hates us.
AND to put this in perspective....
Exxon pays about $27 BILLION in taxes averaged over the last three year (their tax rate is about 41%).
According to IRS with their latest data (2004), the bottom 50% of the tax payers paid in 2004 tax year $27.4 BILLION.
EagleRiverWI
Seasoned Expediter
Here is some good new for all you anti profit business people out there.
Bloomberg.com: Worldwide
We are lucky Exxon is a healthy company, not like GM.
Bloomberg.com: Worldwide
We are lucky Exxon is a healthy company, not like GM.
Last edited:
late4dinner
Seasoned Expediter
I'm not against profit. Without profit none of us would make a living. What I am against is tax cuts without spending cuts. We cannot continue to spend like there is no tomorrow without a way to pay for it.
greg334
Veteran Expediter
Hey Late, I too am against tax breaks, I think everyone needs to pay the same percentage regardless who they are.
As for Congress, Pelosi and Reid decided to send everyone packing off for a vacation without voting on any bills.
OH and for those who think these guys are doing a great job, you do know that 95% of the bills that have been voted on outside of committees are voted on without a debate and sometimes with no one in congress. The fact that a republican can't open a bill up for debate (seems like common practice among the dems and lefties) shows that there is a problem. But again many think they are doing a better job than the republican run congress - sad.
As for Congress, Pelosi and Reid decided to send everyone packing off for a vacation without voting on any bills.
OH and for those who think these guys are doing a great job, you do know that 95% of the bills that have been voted on outside of committees are voted on without a debate and sometimes with no one in congress. The fact that a republican can't open a bill up for debate (seems like common practice among the dems and lefties) shows that there is a problem. But again many think they are doing a better job than the republican run congress - sad.
late4dinner
Seasoned Expediter
Yea Greg, I know what you mean. But expecting everyone to pay their fair share and being responsible for their own actions would be out of the question.
late4dinner
Seasoned Expediter
About the only drawback that I can think of right away is how do you stop people from just going out of the country and purchasing their big ticket items. Other than that I think it is too good to be true.
greg334
Veteran Expediter
You don't and that should not be a worry.
See that is like "what do you do about the people who are cheating?" when it comes down to it, who cares.
The point that I like about it is;
We will see a huge influx of capital coming to the US, no more chasing companies or people away by high taxes.
We will see the return of off shore money, with zero taxes, no IRS and no worry about the IRS taking the money, money will return to be invested here (Oh you do know that they want to expand the IRS powers to seize off shore money and give them powers that the patriot act does not have?)
The people below the poverty level gets to pay nothing in taxes
People will no longer have to adjust their lives to the tax system.
but the thing is in our position we pay no tax at all being a business - we use our trucks as a service to other businesses, so fuel, food, clothes and a whole bunch of other stuff is exempt.
I think people don't understand what it is all about nor do they want real change, just someone to talk about change.
late4dinner
Seasoned Expediter
Sounds great to me. But what would keep people from going out of the country to buy their big ticket items?
What would keep people from going out of the country to buy their big ticket items? How about: the travel cost (not a big deal for some, but prohibitive for many), shipping costs, or the problem of Customs, on re-entry?
It would be similar to buying cigarettes online, to avoid the state taxes: the government can access the records, and go after citizens demanding the payments. And they do.
I like the Fair Tax concept, myself. The only drawback I see is that there's no tax on used things, so there'd be more folks buying them - more competition for me, lol.
It would be similar to buying cigarettes online, to avoid the state taxes: the government can access the records, and go after citizens demanding the payments. And they do.
I like the Fair Tax concept, myself. The only drawback I see is that there's no tax on used things, so there'd be more folks buying them - more competition for me, lol.
greg334
Veteran Expediter
Again there is nothing stopping anyone from doing that and it should not matter. If the total percentage of people are going out and importing things, I would assume that this could be something like 2% of all the goods purchased.
I am with Cheri, I will have a lot of competition with people buying used stuff. The funny thing is, there will more used stuff in the long run, an awful lot of people don't like used anything.