Talk of The Villages Florida - View Single Post - Why Don't We Debate These Facts?
View Single Post
 
Old 09-12-2008, 08:53 PM
Guest
n/a
 
Posts: n/a
Default Re: Why Don't We Debate These Facts?

Chelsea, with all due respect to your post, namecalling not withstanding, what do you think will be the consequences if Obama "just" raises the taxes on those making more than $250,000, corporations and businesses? By the way, I have listened and read everything I can get my hands on about Obama. I gave my opinion in a post above that seems to preempt the point of yours. I'd like to hear your response. Will corporations pass on tax hikes to the public? Isn't that just another form of taxation? Most businesses, big and small are 90% manpower intensive. The largest cost in doing business is payroll. When business needs to make adjustments to meet tax responsibilities, will they layoff people?

The Big Bad Oil Companies

From 2003 to 2007 Exxon Mobil's income grew by 89%. What the tax and spenders in Washington won't mention is that their taxes grew by 170%

In 2007 Exxon Mobil had profits of 40.6 billion dollars and paid 30 billion dollars in taxes.

You will hear the tax and spend crew fire the public up by noting, "In the first quarter of 2008 Exxon Mobil earned a record 10.9 billion dollars." What you won't here from them is that they paid 9.3 billion in taxes.

Exxon pays 49% tax rate on GROSS income. Factor operating costs and draw your own conclusions.

In the interest of full disclosure, I am a stockholder in Exxon Mobil.

What is the breaking point of taxation for big business? Big question, I hope you give it an honest try, how much of big business's tax burden is "passed on" to the consumer and isn't that just another way Washington picks the pockets of the working class?

The most frightening factor is the integral part that the oil industry plays in national defense. Our country should be doing more to encourage oil companies to expand and do what they were intended to do....supply fuel to our nation. That expansion could also create jobs. Like other big business, oil companies are demonized by the liberals and the left. This country was founded and grew on the backs of big business, oil companies, railroads, risk takers, and hardworking people who created something. Today, Obama and the libs just want people to sit in front of their TV's and collect government checks in exchange for votes, while the government takes care of everything. It secures those big salaries and pensions in Washington. It's called socialism and it didn't work in Europe and it didn't work in the old Union of Soviet Socialist Republics.Perhaps your not old enough to remember when the wall came down. I'm sure Kahuna was just a child. China, Russia, and Europe are going Capitalistic and we are leaning Socialistic. Go figure.