Exxon makes record profit

[T2T III]

Originally posted by: techs

Originally posted by: winnar111

Originally posted by: Dari
Incredible that McCain has no problem cutting the taxes of these guys when they're raking in all this cash.

They already pay record amounts of taxes. Enough is enough.

I didn't see that in the story. Did you just make that up or do you have some proof?

Last quarter, they paid more in taxes than they made in profits. The annual report should reflect this when it gets published.

 

[Descartes]

nm

 

[ElFenix]

Originally posted by: Xavier434
Making profit is fine. Making profit that relies on stunting the advancement of crucial technology in America is not.

evidence that exxon is stunting the advancement of crucial technology in america?

 

[Vette73]

Already being covered here...

http://forums.anandtech.com/me...=2242930&enterthread=y


In fact you started it in that thread first then ran out. Troll much?

 

[T2T III]

Originally posted by: techs

Originally posted by: winnar111

Originally posted by: techs

Originally posted by: winnar111

Originally posted by: Dari
Incredible that McCain has no problem cutting the taxes of these guys when they're raking in all this cash.

They already pay record amounts of taxes. Enough is enough.

I didn't see that in the story. Did you just make that up or do you have some proof?

http://seekingalpha.com/articl...q1-income-taxes-update

HaHa. Wrong. You can't pick out a quarter and say they are going to pay that much in taxes, which is what immediately showed me the complete unreality of your link.
That is just how much they made, and the corporate tax rate. It doesn't take into account charges, expenses, tax loopholes, etc.

Tax loopholes? Well, that's exactly what the joint income earners who make more than $250K under Obama's plan will be doing. I don't think Obama's fiscal advisors have accounted for all potential scenarios - before he and Joe Biden have been out there running their mouths about "spreading the wealth".

 

[CPA]

Not to mention the massive amounts of dividends they pay out which will be taxed at ordinary income rates by their shareholders. But, you know, Exxon is an eeeeeevvvvvillllll oil company.

 

[winnar111]

Originally posted by: Marlin1975
Already being covered here...

http://forums.anandtech.com/me...=2242930&enterthread=y


In fact you started it in that thread first then ran out. Troll much?

Just presenting the other side of the story.

 

[Descartes]

How much tax they do or don't pay entirely misses the point, but let's all just keep arguing respective positions of superiority so we never make any progress in the discussion.

 

[Ozoned]

Originally posted by: jpeyton

Originally posted by: winnar111

Originally posted by: techs

Originally posted by: winnar111

Originally posted by: Dari
Incredible that McCain has no problem cutting the taxes of these guys when they're raking in all this cash.

They already pay record amounts of taxes. Enough is enough.

I didn't see that in the story. Did you just make that up or do you have some proof?

http://seekingalpha.com/articl...q1-income-taxes-update

No shit, if you earn more, you get taxed more?

What a stunning revelation.

Obama will end their fat-cat tax breaks, and the American people are behind him on that.

I invest in corporations that look at tax as a cost of sales. Sorry about the tax increase they are going to pass on to you. You just don't deserve that...

 

[Red Dawn]

They should pay record amounts in taxes, we paid record amounts for gas.

 

[techs]

Good god! Even I am calling you a troll on this one.
Sales taxes are somehow paid by ExxonMobil? Take an economics class, will ya?

 

[alien42]

Originally posted by: spidey07
How is this a bad thing again? Companies are SUPPOSED to increase their profits year over year and as alway exxon is in the norm for profit margins, not high, not low...just normal.

"In a conference call with analysts, David Rosenthal, vice president of investor relations for Exxon, said the company's "first priority" is using profits to continue investing in exploration programs for oil and other resources.

Rosenthal said the company would also consider using new-found funds to bolster its dividend, buy back more shares and to purchase other companies, but he declined to offer specific details.
"

So cutting their taxes would lead to MORE exploration for oil and other resources. That's a GOOD thing.

the global economy is tetering on the edge of collapse and Exxon is making record profits, if you can not figure out what is wrong with that then there is no hope for you.

 

[winnar111]

Originally posted by: Red Dawn
They should pay record amounts in taxes, we paid record amounts for gas.

Then what is the problem and why is this news?

 

[CPA]

Originally posted by: MikeyLSU
Yeah, damnit, lets tax them so they make no profit and break even...that way we can give the money to people who really deserve it.

like who, oh wise one?

 

[winnar111]

Originally posted by: JohnOfSheffield

Originally posted by: winnar111

Originally posted by: Dari
Incredible that McCain has no problem cutting the taxes of these guys when they're raking in all this cash.

They already pay record amounts of taxes. Enough is enough.

They really don't.

After the inventories are included they pay about 10% in taxes for their profits, well, not really because they usually have deductable loans so it's closer to 0% than to 1% when all is said and done, besides, they can deduct most spendings to even bring the profit down enouch that they really don't pay any tax.

CPA can tell you all about that, he's a republican and knows far more about it than i do but if he's hones he'll admit that big companies generally don't pay taxes on profit.

They paid $33 billion in taxes on $137 billion in revenues. A lot more than 10%.

 

[winnar111]

Originally posted by: jpeyton

Originally posted by: winnar111

Originally posted by: techs

Originally posted by: winnar111

Originally posted by: Dari
Incredible that McCain has no problem cutting the taxes of these guys when they're raking in all this cash.

They already pay record amounts of taxes. Enough is enough.

I didn't see that in the story. Did you just make that up or do you have some proof?

http://seekingalpha.com/articl...q1-income-taxes-update

No shit, if you earn more, you get taxed more?

What a stunning revelation.

Obama will end their fat-cat tax breaks, and the American people are behind him on that.

Please name a single 'tax break' that Exxon Mobil has that any other company doesn't.

 

[Xavier434]

Originally posted by: ElFenix

Originally posted by: Xavier434
Making profit is fine. Making profit that relies on stunting the advancement of crucial technology in America is not.

evidence that exxon is stunting the advancement of crucial technology in america?

If you are looking for the kind of proof that goes beyond the shadow of a doubt then you won't find it because it is not available. What I am referring to is an influence and not a direct cause which is why it pretty much cannot be proven. That influence works hand in hand with the lobbyists that leads to suppressing of the advancement of this technology.

Do you believe that we would be closer, farther, or in the same position that we are now in regards to advancement of this technology if they had zero negative influence or control?

 

[CPA]

Originally posted by: JohnOfSheffield

Originally posted by: winnar111

Originally posted by: Dari
Incredible that McCain has no problem cutting the taxes of these guys when they're raking in all this cash.

They already pay record amounts of taxes. Enough is enough.

They really don't.

After the inventories are included they pay about 10% in taxes for their profits, well, not really because they usually have deductable loans so it's closer to 0% than to 1% when all is said and done, besides, they can deduct most spendings to even bring the profit down enouch that they really don't pay any tax.

CPA can tell you all about that, he's a republican and knows far more about it than i do but if he's hones he'll admit that big companies generally don't pay taxes on profit.

I can't speak for Exxon, but I can speak for my company, which is a Fortune 150 company. I can guarantee you that we pay taxes. Our effective rate is currently a little over 38%.

 

[winnar111]

Originally posted by: Xavier434

Originally posted by: ElFenix

Originally posted by: Xavier434
Making profit is fine. Making profit that relies on stunting the advancement of crucial technology in America is not.

evidence that exxon is stunting the advancement of crucial technology in america?

If you are looking for the kind of proof that goes beyond the shadow of a doubt then you won't find it because it is not available. What I am referring to is an influence and not a direct cause which is why it pretty much cannot be proven. That influence works hand in hand with the lobbyists that leads to suppressing of the advancement of this technology.

Do you believe that we would be closer, farther, or in the same position that we are now in regards to advancement of this technology if they had zero negative influence or control?

What technology? Our next President wants to increase ridiculous ethanol subsidies so his corporate farmer buddies in Illinois reap windfall profits at the expense of the taxpayer.

He and the rest of the Democrats prevent us from importing cheap ethanol from brazil, and force mandates to make us buy expensive ethanol from Iowa.

 

[Xavier434]

Originally posted by: winnar111

Originally posted by: Xavier434

Originally posted by: ElFenix

Originally posted by: Xavier434
Making profit is fine. Making profit that relies on stunting the advancement of crucial technology in America is not.

evidence that exxon is stunting the advancement of crucial technology in america?

If you are looking for the kind of proof that goes beyond the shadow of a doubt then you won't find it because it is not available. What I am referring to is an influence and not a direct cause which is why it pretty much cannot be proven. That influence works hand in hand with the lobbyists that leads to suppressing of the advancement of this technology.

Do you believe that we would be closer, farther, or in the same position that we are now in regards to advancement of this technology if they had zero negative influence or control?

What technology? Our next President wants to increase ridiculous ethanol subsidies so his corporate farmer buddies in Illinois reap windfall profits at the expense of the taxpayer.

How about electric cars and the infrastructure to support them?

 

[shadow9d9]

Originally posted by: spidey07
How is this a bad thing again? Companies are SUPPOSED to increase their profits year over year and as alway exxon is in the norm for profit margins, not high, not low...just normal.

"In a conference call with analysts, David Rosenthal, vice president of investor relations for Exxon, said the company's "first priority" is using profits to continue investing in exploration programs for oil and other resources.

Rosenthal said the company would also consider using new-found funds to bolster its dividend, buy back more shares and to purchase other companies, but he declined to offer specific details.
"

So cutting their taxes would lead to MORE exploration for oil and other resources. That's a GOOD thing.

No... we don't need more oil.. we need an alternative to oil!

 

[winnar111]

Originally posted by: Xavier434

Originally posted by: winnar111

Originally posted by: Xavier434

Originally posted by: ElFenix

Originally posted by: Xavier434
Making profit is fine. Making profit that relies on stunting the advancement of crucial technology in America is not.

evidence that exxon is stunting the advancement of crucial technology in america?

If you are looking for the kind of proof that goes beyond the shadow of a doubt then you won't find it because it is not available. What I am referring to is an influence and not a direct cause which is why it pretty much cannot be proven. That influence works hand in hand with the lobbyists that leads to suppressing of the advancement of this technology.

Do you believe that we would be closer, farther, or in the same position that we are now in regards to advancement of this technology if they had zero negative influence or control?

What technology? Our next President wants to increase ridiculous ethanol subsidies so his corporate farmer buddies in Illinois reap windfall profits at the expense of the taxpayer.

How about electric cars and the infrastructure to support them?

What about them? They're ugly, expensive, and slow, and in any case, not going to receive much funding in an Obama administration.

 

[Dari]

Originally posted by: JD50
OP, what was their profit margin and what is an acceptable profit margin to you?

They certainly don't need tax relief. That's my point.

 

[shadow9d9]

Originally posted by: winnar111

Originally posted by: Dari
Incredible that McCain has no problem cutting the taxes of these guys when they're raking in all this cash.

They already pay record amounts of taxes. Enough is enough.

So in your mind taxes negate record profits?

So, with that mindset you'd be willing to take a much lower salary because you'll pay less evil taxes?

These companies are monopolies and rip off americans to line their pockets while doing their best to stop alternative fuels... why WOULD they want alternative fuels when they make RECORD PROFITS on oil!?!?!?!?!?!

 

[ElFenix]

Originally posted by: Descartes
How much tax they do or don't pay entirely misses the point, but let's all just keep arguing respective positions of superiority so we never make any progress in the discussion.

exxon doesn't pay any taxes. it may be levied on exxon, but exxon is not a person. only people can really bear the burden of taxes.

Originally posted by: Xavier434

If you are looking for the kind of proof that goes beyond the shadow of a doubt then you won't find it because it is not available. What I am referring to is an influence and not a direct cause which is why it pretty much cannot be proven. That influence works hand in hand with the lobbyists that leads to suppressing of the advancement of this technology.

Do you believe that we would be closer, farther, or in the same position that we are now in regards to advancement of this technology if they had zero negative influence or control?

so you've got nothing more than conjecture.

Originally posted by: shadow9d9

These companies are monopolies and rip off americans to line their pockets while doing their best to stop alternative fuels... why WOULD they want alternative fuels when they make RECORD PROFITS on oil!?!?!?!?!?!

because they can patent the process and make even more money. that's why the oil companies are some of the biggest alternative energy investors on the planet (and combined they're probably the largest).