In response to:

Big, Evil Oil Companies Pay Most in Taxes

PaddyL Wrote: Mar 19, 2013 4:25 PM
I asked you to identify the source of the tax and income data you mention. Here is mine: http://finance.yahoo.com/q/is?s=XOM+Income+Statement&annual This is Exxon's statement of income for 2012. It shows income taxes paid, $31.045 billion. This is the total amount of tax paid globally. each nation in which they operate has its own tax system. Ours only taxes income earned in the US; our tax code also provides for a credit against US taxes in the amount of total foreign tax paid. the foreign tax credit is available to every US corporation that operates in foreign nations.

It's no surprise liberals love taxes. The new Democratic Senate budget calls for $1 trillion in tax increases in order to offset $1 trillion in new spending. But liberals who constantly demonize big oil are biting the hand that feeds and fulfills their big govenrment spending dreams. It turns out, big oil companies like Exxon Mobile and Chevron pay the most in taxes out of any other company. 

1. ExxonMobil
• Income tax expense: $31.05 billion
• Earnings before taxes: $78.73 billion
• Revenue: $428.38 billion
•1-year share price change: 6.56%
•...

Related Tags: Big Oil Taxes