4 out of 5 of America's biggest companies paid $0 of Federal tax in 2009

Discussion in 'Economy' started by KissMy, Apr 21, 2010.

  1. KissMy
    Offline

    KissMy Free Breast Exam

    Joined:
    Oct 10, 2009
    Messages:
    12,102
    Thanks Received:
    2,147
    Trophy Points:
    255
    Location:
    In your head
    Ratings:
    +2,933
    U.S. Federal Tax bills that America's 5 biggest companies paid in 2009:

     
    • Thank You! Thank You! x 2
    Last edited: Apr 21, 2010
  2. CMike
    Offline

    CMike Zionist, proud to be

    Joined:
    Oct 25, 2009
    Messages:
    8,900
    Thanks Received:
    1,116
    Trophy Points:
    190
    Ratings:
    +1,408
    Read the details of your own link.

    Exxon paid the most taxes last year of any U.S. company, by far -- but not a cent went to the IRS for income taxes. That's because the oil giant does business in some of the mostly highly taxed countries in the world. Want to extract petroleum in Nigeria? Be prepared to fork over up to 85% of your profit in tax payments.

    Exxon doled out more than $15 billion in income tax payments to foreign countries last year. U.S. tax codes allow companies to take massive deductions in light of those international charges, which knocked Exxon's federal income-tax bill down into negative territory.

    That said, Uncle Sam gets his money in other ways. Including sales taxes and duties, Exxon recorded $7.7 billion in U.S. tax costs last year, and paid even more overseas.

    Its grand total in global taxes for the year? A whopping $78.6 billion. The company's effective income tax rate was a hefty 47%, its highest in three years.
     
    • Thank You! Thank You! x 2
  3. boedicca
    Offline

    boedicca Uppity Water Nymph Supporting Member

    Joined:
    Feb 12, 2007
    Messages:
    41,844
    Thanks Received:
    12,789
    Trophy Points:
    2,250
    Location:
    The Land of Funk
    Ratings:
    +22,874
    Those companies do pay significant amounts of other taxes, notably SS and Medicare...and Property Taxes.

    We do not have an undertaxing problem. We have a spending problem.
     
  4. xsited1
    Offline

    xsited1 Agent P

    Joined:
    Sep 15, 2008
    Messages:
    17,750
    Thanks Received:
    5,300
    Trophy Points:
    198
    Location:
    Little Rock, AR
    Ratings:
    +5,307
    The way to correct this is to remember this simple mnemonic device: "I before E, except after C."
     
  5. Old Rocks
    Online

    Old Rocks Diamond Member

    Joined:
    Oct 31, 2008
    Messages:
    46,625
    Thanks Received:
    5,430
    Trophy Points:
    1,840
    Location:
    Portland, Ore.
    Ratings:
    +10,418
    Gee, I pay many taxes in other ways. Maybe I can apply for zero income taxes?

    Love how the kneejerk dingbats automatically defend the companies that are srewing the American Citizen.
     
  6. RetiredGySgt
    Offline

    RetiredGySgt Platinum Member

    Joined:
    May 6, 2007
    Messages:
    39,591
    Thanks Received:
    5,909
    Trophy Points:
    1,140
    Location:
    North Carolina
    Ratings:
    +9,021
    A reminder, since the left has forgotten.

    From 1952 to 1994 the House of Representatives was controlled by the Democrats. During the same time the Senate was mostly controlled by the Democrats.

    So who do you THINK made the laws for said Companies regarding taxes?

    You are all in favor of laws you like but wax on and on about laws you do not agree with. THEN have the idiocy to complain when the right complains about laws they do not like.

    Those Companies FOLLOWED the LAW. Laws made by Democrats.
     
    • Thank You! Thank You! x 1
  7. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    Yeah paying taxes to Nigeria is so patriotic.

    Dipshits.
     
  8. RadiomanATL
    Offline

    RadiomanATL Senior Member

    Joined:
    Jun 13, 2009
    Messages:
    24,944
    Thanks Received:
    3,823
    Trophy Points:
    48
    Location:
    Not here
    Ratings:
    +3,836

    And $7.7B in US taxes according to the link apparently.

    Sounds OK to me.
     
  9. SFC Ollie
    Offline

    SFC Ollie Still Marching

    Joined:
    Oct 21, 2009
    Messages:
    28,742
    Thanks Received:
    4,418
    Trophy Points:
    183
    Location:
    Extreme East Ohio
    Ratings:
    +4,458
    Seems they all paid plenty. I wouldn't mind living off of their interest.
     
  10. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    Exxon Mobil got 40 mill or so more in tax credit in the USA than they paid in USA taxes.
     

Share This Page