Capitalism is inherently amoral, thus the need to have monopoly / collusion laws in place.
Karl Marx couldn't have said it any better.
Capitalism is inherently amoral, thus the need to have monopoly / collusion laws in place.
US companies have a vast array of ways to skirt their taxes
The price of standard crude oil on NYMEX was under $25/barrel in September 2003. It's now just over $100/barrel. Doesn't it figure that their profits would go up along with the price of crude?
So you would rather do nothing, give the oil companies all the free money they want, and live at their mercy for fear they will put the screws to you if anyone tries to step on their toes?And, somehow, you don't think that the oil companies will pass those higher taxes on ?
So you would rather do nothing, give the oil companies all the free money they want, and live at their mercy for fear they will put the screws to you if anyone tries to step on their toes?
Because anything but pure capitalism must be that evil, nasty communism, right? You can't have any government interaction whatsoever because governments are bad and corporations are good! :barf:Karl Marx couldn't have said it any better.
They paid three times their profits in taxes? I seriously doubt that.From about 1980 to 2005, oil companies directly paid or remitted more than $2.2 trillion in taxes, after adjusting for inflation, to federal and state governments—including excise taxes, royalty payments and state and federal corporate income taxes. That amounts to more than three times what they earned in profits during the same period.
Which is why I didn't ****ing say that.To say that oil compamies pay little or no tax is totally mindless.
They are not just keeping their earnings. They are keeping their earnings and yours. In the form of massive tax incentives and pay-outs from tax payer money.I like how this works on the left. If a company gets to keep more of its' earnings, that's greed. If the politicians take more of your money, that's fairness.
wait, that's capitalism to you? :barf: no, it isn't greatIsn't capitalism great?
That is a very important modifier.Exxon pays taxes at a rate of 41% on its taxable income!
So who here actually believes that when oil companies get tax breaks they pass the savings on down to us?
That is a very important modifier.
So who here actually believes that when oil companies get tax breaks they pass the savings on down to us?
The questions is how much of their income is actually taxable. That's the point.What else would they pay taxes on??
Again, three times their profits?