Exxon paid a 2% US income tax rate off its profit before tax.

[realinvestment]

From page 94 of the Exxon 10-K.

 

[BillyV]

From page 94 of the Exxon 10-K.

Yes, but that doesn't quite tell the whole story, does it? You left out the fact that Exxon pays a 44% effective world-wide income tax rate, that more than 2/3 of their income is earned outside the US, and that their domestic (US) income tax rate on their income earned in the US is 16.8% for the federal income tax, 22.1% if you also include state income taxes, and 31.9% if you include deferred items that will be taxed in future years based on that years(2011) income.

You can't take their US tax and divide by worldwide income (where they pay even higher tax rates) and then report in one line what you concluded without being deceptive. Maybe that was the point of your deceptive OP?

 

[iamwhatiseem]

From page 94 of the Exxon 10-K.

Yes, but that doesn't quite tell the whole story, does it? You left out the fact that Exxon pays a 44% effective world-wide income tax rate, that more than 2/3 of their income is earned outside the US, and that their domestic (US) income tax rate on their income earned in the US is 16.8% for the federal income tax, 22.1% if you also include state income taxes, and 31.9% if you include deferred items that will be taxed in future years based on that years(2011) income.

You can't take their US tax and divide by worldwide income (where they pay even higher tax rates) and then report in one line what you concluded without being deceptive. Maybe that was the point of your deceptive OP?

Or he didn't have a clue...and still don't...

 

[realinvestment]

From page 94 of the Exxon 10-K.

Yes, but that doesn't quite tell the whole story, does it? You left out the fact that Exxon pays a 44% effective world-wide income tax rate, that more than 2/3 of their income is earned outside the US, and that their domestic (US) income tax rate on their income earned in the US is 16.8% for the federal income tax, 22.1% if you also include state income taxes, and 31.9% if you include deferred items that will be taxed in future years based on that years(2011) income.

You can't take their US tax and divide by worldwide income (where they pay even higher tax rates) and then report in one line what you concluded without being deceptive. Maybe that was the point of your deceptive OP?

When a company like Exxon, which you concede earns 1/3 of its income in the US, pays only 1.791B out of before tax income of 78.726B, something is wrong with the US tax code.

The US isn't getting its fair share.

 

[iamwhatiseem]

See?

 

[blackhawk]

How much did General Electric pay?

 

[P@triot]

From page 94 of the Exxon 10-K.

Good! Glad to hear there are some companies are figuring out ways to keep more of what they EARNED.

 

[iamwhatiseem]

How much did General Electric pay?

They didn't pay any on the business they did with Iran, that's or sure. Even after our Dear Leader made their CEO one of his advisers...that's what they got. After committing to what amounts to treason - they get appointed to a Presidential panel.
Must be nice.

 

[realinvestment]

GE hasn't paid a dime for years?

Yet what will some domestic owned firm pay? A lot, and a lot more since the fiscal cliff deal was made.


The system gives a huge advantage to the multinational corporation. It's an uneven playing field.

 

[P@triot]

The US isn't getting its fair share.

Ah yes, the official battle cry of the modern day (idiot) communist. Two things these uneducated, ignorant assholes never mention:

1. What exactly equals "fair share"?
   
   
2. Who gets to decide what that percentage is?

 

[iamwhatiseem]

Alright...what the hell is going on?
We got dozens of idiots all of a sudden...what would be board crashed this time?
And why do they end up here?

 

[P@triot]

GE hasn't paid a dime for years?

Yet what will some domestic owned firm pay? A lot, and a lot more since the fiscal cliff deal was made.


The system gives a huge advantage to the multinational corporation. It's an uneven playing field.

Created by government bureaucrats. You want a "level playing field"? Get government the fuck out of business (where they don't belong anyway). What could be more fair than complete and total freedom?

 

[boedicca]

From page 94 of the Exxon 10-K.

Yes, but that doesn't quite tell the whole story, does it? You left out the fact that Exxon pays a 44% effective world-wide income tax rate, that more than 2/3 of their income is earned outside the US, and that their domestic (US) income tax rate on their income earned in the US is 16.8% for the federal income tax, 22.1% if you also include state income taxes, and 31.9% if you include deferred items that will be taxed in future years based on that years(2011) income.

You can't take their US tax and divide by worldwide income (where they pay even higher tax rates) and then report in one line what you concluded without being deceptive. Maybe that was the point of your deceptive OP?

When a company like Exxon, which you concede earns 1/3 of its income in the US, pays only 1.791B out of before tax income of 78.726B, something is wrong with the US tax code.

The US isn't getting its fair share.

Really? $1.8B of taxes plus paying the salaries and payroll taxes for thousands of employees (who also pay gobs of taxes) isn't a fair share?

What is a Fair Share?

 

[boedicca]

GE hasn't paid a dime for years?

Yet what will some domestic owned firm pay? A lot, and a lot more since the fiscal cliff deal was made.


The system gives a huge advantage to the multinational corporation. It's an uneven playing field.

Instead of jacking up their taxes in the name of FAIRSHARENESS, has it ever occurred to you that perhaps the answer is to descope the size of government and lower taxes for everyone?

 

[realinvestment]

Alright...what the hell is going on?
We got dozens of idiots all of a sudden...what would be board crashed this time?
And why do they end up here?

If there is anything I posted that is untrue, please correct it. We have to start with true facts, then make our conclusions.

 

[iamwhatiseem]

Alright...what the hell is going on?
We got dozens of idiots all of a sudden...what would be board crashed this time?
And why do they end up here?

If there is anything I posted that is untrue, please correct it. We have to start with true facts, then make our conclusions.

Truth is not always what appears upon first glance.
For instance the business I operate does not pay...
Fuel taxes
Sales tax on most of what we buy
Taxes on some revenues are deferred.

Now...upon first glance by those who do not understand..this seems completely unfair...I mean..why do YOU pay taxes when you pump gas - but a multi-million$ company does not??
Oh and by the way....most of the products we sell to our clients - they don't have to pay any sales tax either.
Must burn your ass.

 

[thereisnospoon]

GE hasn't paid a dime for years?

Yet what will some domestic owned firm pay? A lot, and a lot more since the fiscal cliff deal was made.


The system gives a huge advantage to the multinational corporation. It's an uneven playing field.

Where are you going with this?.
What is your point?

 

[mudwhistle]

From page 94 of the Exxon 10-K.

Yes, but that doesn't quite tell the whole story, does it? You left out the fact that Exxon pays a 44% effective world-wide income tax rate, that more than 2/3 of their income is earned outside the US, and that their domestic (US) income tax rate on their income earned in the US is 16.8% for the federal income tax, 22.1% if you also include state income taxes, and 31.9% if you include deferred items that will be taxed in future years based on that years(2011) income.

You can't take their US tax and divide by worldwide income (where they pay even higher tax rates) and then report in one line what you concluded without being deceptive. Maybe that was the point of your deceptive OP?

When a company like Exxon, which you concede earns 1/3 of its income in the US, pays only 1.791B out of before tax income of 78.726B, something is wrong with the US tax code.

The US isn't getting its fair share.

Fair share.......meaning enough taxes to make them want to move to Brazil.

 

[thereisnospoon]

Alright...what the hell is going on?
We got dozens of idiots all of a sudden...what would be board crashed this time?
And why do they end up here?

If there is anything I posted that is untrue, please correct it. We have to start with true facts, then make our conclusions.

We do not prove negatives here.

 

[Remodeling Maidiac]

From page 94 of the Exxon 10-K.

How much did GE pay?

GTFO with your selective outrage