www.thecarlots.com, used cars tucson, best car warranty, top rated cars

www.thecarlots.com, used cars tucson, best car warranty, top rated cars

Friday, July 18, 2014

How much is too much for Oil Company Tax Rates?


Is the current Oil Company tax rate Fair or Not Fair?



According to DailyKos.com, Exxon is tracking at around $40 Billion in Profit for 2014. Thanks in part to its heavy Federal subsidies, it only paid about 13% Federal Income Tax in the 1st qtr. (compared to 35% for the ave. US company, and aside from the usual plethora of other state, local, and Fed. taxes).

HOWEVER, they will still pay some $5 BILLION in Fed. Taxes, which is drastically beyond the tax contribution of the average US company, which is way light of $1 Million.

Additionally, Exxon employs 80,000 well-paid employees world-wide (40,000 in the US). These employees also contribute significant amounts of federal, state, and local taxes, as well.



And of course, there are many other indirect benefits to the US and world economies, not to mention fulfilling a major societal need. Yet, there have been, and will certainly continue to be, the number of major environmental catastrophes.


With all things considered, do you feel that Exxon's Tax payment is "fair" as it, or do you feel these large oil conglomerates are not paying their #FairShare?  If the latter, what would be a fair share?






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