Thursday, August 9, 2012

Tax Breaks for Oil Companies

How many times have you heard someone claim that we need to get rid of "tax breaks for oil companies". The next time you hear that comment you might actually want to ask what they think is the current level of taxation. Below is a summary of taxes and profit from Exxon-Mobil over the last ten years. It's paid taxes equal to roughly THREE TIMES their profit. Is this still not enough? And from whom does Exxon get the money to pay those taxes? For the most part it would be the customers who buy Exxon's products. That would be you.

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