October 30, 2008 8:53AM
Exxon Beats, and Keeps the Government Running
By Ray Hennessey
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ExxonMobil exceeded expectations in the latest quarter, reporting the largest quarterly profit in the history of mankind with $14.83 billion on revenue of $137.74 billion. Not too shabby.
And taxpayers have benefitted. Yes, the company earned a record amount, but it paid out a record amount in taxes. The company paid a 43.3% tax rate. It paid $11.33 billion in income taxes, $9.33 billion in sales taxes and $11.85 billion in other taxes. That means it paid total taxes of $32.51 billion in the current quarter.
While other companies have been asking for handouts, ExxonMobil has been keeping the government funded.
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Hey did any one notice that the money made on world wide gas sales is 1/10 of their profit. And most of the money was made by exploration for china and russia and others for their fuel reserves. and that it would take all of that profit to make one OilRig that cost 11 billion. And they won’t build one until the government says its okay to drill. And that Obama would ignore there plea to drill. Never coming out for it. Just some interesting dots.
I am glad my 5 year old has Exxon stock her grandma left her.
Exxon didn’t keep the government funded. We the consumers paid the price including the taxes, kept the government funded, and put huge profits into the pockets of the CEO’s, but again!!
Mmmmm, yes, Exxon keeps our government running. Without their profits, our bloated Republican administration would collapse. So we should be happy that our gas prices are so high and that they rake it in each quarter. This makes lots of sense. Why don’t we all just give Exxon an extra $1,000 each so that the government can get 43.3% of it in taxes. Hooray for Exxon!