Big Government’s Profits – ExxonMobil and the Energy Tax – ExxonMobil Pays Taxes Three Times Its Profits!
ExxonMobil Paid $1 Trillion in Taxes Since 1999, Three Times Its Profits READ MORE Carpe Diem 9 August 2012 Mark J. Perry (as reported at TaxProf Blog)
“For every dollar in profits it earns for its shareholders, ExxonMobil earns nearly three dollars for governments.” Forbes AEI 9 August 2012 Nick Schulz
It seems that ExxonMobil is both an “Investment Hero” and a “Taxation Hero”. Corporations are people organized in a cooperative interconnected network , voluntarily coordinating their individual actions for mutual benefit. Or, People Pay Taxes. Profits Pay People, workers, savers and investors.
1) Investment Heroes: Who’s Betting on America’s Future? “New Democrat” The Progressive Policy Institute * (July 2012) points out that “Domestic Investment Generates Growth, raises productivity, increases wages and creates jobs for Americans.” I would add that, as a result, the standard of living of all us increases if not equally for all, we are individually better off for the productive investment.
Wikipedia: The Progressive Policy Institute (PPI) is a public policy think tank in the United States, founded in 1989 which styles itself as promoting the ideas of “New Democrats.” It covers a very wide range of issues and describes itself as centrist. Its founder and current president is Will Marshall, who writes frequently on foreign policy, defense, national service, globalization and trade policy, and cultural issues. Its chief economic strategist is Michael Mandel, who writes on innovation, growth, and regulatory policy.
Wikipedia: The American Enterprise Institute for Public Policy Research (AEI) is an American non-partisan think tank founded in 1943. Its stated mission is “to defend the principles and improve the institutions of American freedom and democratic capitalism—limited government, private enterprise, individual liberty and responsibility, vigilant and effective defense and foreign policies, political accountability, and open debate”. AEI is an independent nonprofit organization supported primarily by grants and contributions from foundations, corporations, and individuals. It is headquartered in Washington, D.C.