Any tax, be it an income tax, business enterprise tax, sales-based tax, or a duty adds to the retail price of a business' products. If you don't cover expenses, you don't make a profit, and no profit means bankruptcy after a period of time.
At the very top of Item 6 of XOM's 2007 10K, they indicate $31.728 billion in sales-based taxes. Don't forget, they operate a nationwide chain of Exxon/Mobil retail gas stations across the country. There's a Mobil right at the center of my own town, and another one about two miles down the same road.
Item 18 of the 10K lays out the tax situation for XOM. It breaks down current and deferred, US and non-US, US taxes on non-US operations, sales taxes, and all other taxes and duties, including taxes reported in production and manufacturing and selling, general and administrative (SG&A) expenses.
Their 2007 worldwide total tax bill? $105.683 billion. That's about the amount of the entire Gross Domestic Products of the bottom 67 nations in the CIA World Factbook list for 2007. Just in taxes. For parasites who do nothing productive save a few regulatory and safety oversight functions, which in most cases they don't do very well to begin with.
They paid $630 million in state taxes, $263 million in US federal taxes on their non-US operations, and $5.1 billion in US income taxes total (enough to fund five BATFEs), and $29.864 billion in income taxes worldwide.
You think that this money doesn't come out of the pockets of its customers in the end? If it didn't, XOM would go out of business. It's that simple.
Imagine if farmers paid taxes amounting to 25% of their total revenue. We'd all be spending our free time grubbing for potatoes in our back yards to fend off starvation, rather than sitting in our comfortable chairs before our 19" flat-screens and arguing on the Internet.
At the very top of Item 6 of XOM's 2007 10K, they indicate $31.728 billion in sales-based taxes. Don't forget, they operate a nationwide chain of Exxon/Mobil retail gas stations across the country. There's a Mobil right at the center of my own town, and another one about two miles down the same road.
Item 18 of the 10K lays out the tax situation for XOM. It breaks down current and deferred, US and non-US, US taxes on non-US operations, sales taxes, and all other taxes and duties, including taxes reported in production and manufacturing and selling, general and administrative (SG&A) expenses.
Their 2007 worldwide total tax bill? $105.683 billion. That's about the amount of the entire Gross Domestic Products of the bottom 67 nations in the CIA World Factbook list for 2007. Just in taxes. For parasites who do nothing productive save a few regulatory and safety oversight functions, which in most cases they don't do very well to begin with.
They paid $630 million in state taxes, $263 million in US federal taxes on their non-US operations, and $5.1 billion in US income taxes total (enough to fund five BATFEs), and $29.864 billion in income taxes worldwide.
You think that this money doesn't come out of the pockets of its customers in the end? If it didn't, XOM would go out of business. It's that simple.
Imagine if farmers paid taxes amounting to 25% of their total revenue. We'd all be spending our free time grubbing for potatoes in our back yards to fend off starvation, rather than sitting in our comfortable chairs before our 19" flat-screens and arguing on the Internet.