Talk of The Villages Florida - View Single Post - Most companies in US avoid federal income taxes
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Old 08-12-2008, 09:34 PM
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Default Re: Most companies in US avoid federal income taxes

For example,this is from a MONEY article dated April 29 of this year concerning Oil company profits.....

" sometimes get the impression that people think oil executives hold clandestine meetings where they unilaterally decide to set the price of oil and gas in order to maximize their profits. After maniacally laughing about how they are gouging the American public, they then go swimming in pools of gold ala Scrooge McDuck.

But there's a problem with that theory. Even though many oil companies are reporting record profits, many people forget just how expensive it is for energy companies to engage in the oil business.

The average net profit margin for the S&P Energy sector, according to figures from Thomson Baseline, is 9.7%. The average for the S&P 500 is 8.5%. So yes, energy companies are more profitable than many others...but not by an inordinate amount.

Google, for example, reported a net profit margin of 25% in its most recent quarter. Should we have an online advertising windfall profit tax? "

I am not posting a defense of corporations paying tax.....just when you start to add what Sen Obama has done to the facts on oil companies the discussion becomes much different !

Microsoft had a much bigger net profit than the oil companies...so lets have a windfall tax on computer usage !