So we keep hearing the Democrats rail against corporate profits and how corporations don't pay enough taxes...yadda yadda yadda. Hillary Clinton even goes so far to say that she would take away oil company profits:
But does anyone ever hear how much in taxes these evil corporations, especially the oil companies pay? Heavens no...the Democrats don't want to tell the WHOLE truth. Let's take Exxon-Mobil for example (quotes from this article):
For 2006, Exxon's EBT (earnings before tax) was $67.4 billion, it paid $27.9 billion in taxes (41.4% tax rate), and its NIAT (net income after tax), or profit, was $39.5 billion.
Compare that to the bottom 50% of US taxpayers:
just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers, which is 65,000,000 people! Further, the tax rate for the bottom 50% is only 3% of adjusted gross income ($27.4 billion / $922 billion), and the tax rate for Exxon was 41% in 2006 ($67.4 billion in taxable income, $27.9 billion in taxes).
And we wonder why corporations are outsourcing jobs overseas where they can operate without being penalized so harshly for being successful...
Thanks to boortz.com for the comic strip!
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