Friday, July 23, 2010

Do you believe Exxon Mobil and other oil companies need a tax break?

It is reported today that Exxon Mobil has shattered their profit records. In their third quarter alone, for 2008, profits for the company were $14.83 billion dollars! $14.83 billion dollars!


http://news.yahoo.com/s/ap/20081030/ap_o鈥?/a>





They are just one of the corporations that get the big tax breaks here in America. Yet a large sum of Americans have more than 10% taken out of their paychecks for taxes. I do not believe the Exxon Mobil corporate monkeys are struggling to buy a gallon of milk, pay their light bill, send their children to school, or suffer the everyday struggles most of us do.





Yet, that is exactly what McCain's tax plan would do. Put more money into the hands of oil companies. It is fact, a study done by the nonpartisan Tax Policy Center, concluded McCain's tax cuts would give $200 billion to corporations and $4 billion to oil companies.


http://politicalticker.blogs.cnn.com/200鈥?/a>





Most say that the taxes are given to the oil companies to help pursue and complete projects. Then why are we the retards in energy efficient technology? Let's be honest with ourselves, do the Exxon Mobil's of the world need more money?Do you believe Exxon Mobil and other oil companies need a tax break?
You are looking at the raw numbers and not the most critical number: ROI (Return On Investment).





Exxon-Mobil had an ROI of 8% (which means that those profits amounted to only 8% of the capital invested in that company). This is not excessive profit. In fact this is not even a very good profit.





Most well run businesses should expect to produce an ROI of 10-15%. I suspect that the shareholders are currently looking at Exxon-Mobil and asking: what is the problem?





Do you believe Exxon Mobil and other oil companies need a tax break?
Is Bush getting a return on his investment in oil? ....I would say yes.





Do we need to be dependent on the middle east for oil? ...I would say no.





';...do the Exxon Mobil's of the world need more money?'; I would say definately not, at least not from the middle class and lower income earners in America.
All producers need incentives to produce, so yes. Much better for economic growth to give Exxon a tax break than to throw money at a deadbeat. By the way, if you can put your partisan rhetoric aside for a second, you would realize that historically oil companies have lousy rates of return on assets/equity, making them a relatively lousy investment. Did you know that discovering oil is a very risky task? Also, did you know that when someone invests money in more risky ventures, they demand greater returns? Oil company investors haven't gotten their money's worth. But then, I'm probably wasting my time since you don't seem like the type to understand what drives economic growth.
absolutely not. NO BIG CORP should be getting tax breaks.





these big corporations bonus the guys who send jobs off shore. american workers are 'too expensive', so they cut costs by employing oppressed workers in foreign countries. this way they have enough money for the million dollar bonuses and then walmart can sell the crap for cheap to the very ones (american workers) that have been displaced.





pukes.








EDIT - hey 'memo' .. not everyone who isn't an oil tycoon is a dead beat. geezus.
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