OT I am a little slow.....

Animal · Jan 31, 2011

Would some one tell me why a business that makes thirty billion a year does not pay taxes and recieves subsidies?

Anonymous-0 · Jan 31, 2011

guess I'm slower cause I have no idea what you are talking about.
Details???????

730d se · Jan 31, 2011

Without knowing the specific business that you refer to, the obvious answer is due to Congressman and Lobbyist that have a vested financial stake in those companies.

GordoSD · Jan 31, 2011

The BTO farmer?

plow hand · Jan 31, 2011

Must be plenty of hookers in that area.

Nancy Howell · Jan 31, 2011

Exxon-Mobil

Gun guru · Jan 31, 2011

What business are you talking about?
Do you mean 30 billion in total sales or profits of 30 billion?

Tom in TN · Jan 31, 2011

Animal,

I don't know what business you are referring to, but whatever the business, whatever the gross proceeds, whatever the net profit, the taxes that the company pays is a result of what the House of Representatives has decided to build into the tax laws.

I don't blame any business, of any size, for minimizing its taxes within the law.

Individual taxpayers and businesses don't write the laws.

Tom in TN

TomH in PA · Jan 31, 2011

It depends on whose blog you believe.

Left says they paid <a href="http://motherjones.com/mojo/2010/04/exxon-mobil-paid-zero-income-tax-offshore%20shelter-wal-mart-general-electric-forbes">no US income tax</a>.

Right says they <a href="http://blogs.forbes.com/energysource/2010/04/07/exxon-says-it-does-pay-u-s-income-taxes/">paid plenty</a>.

Did they really pay <a href="http://money.cnn.com/galleries/2010/news/1004/gallery.top_5_tax_bills/2.html">$78.6Billion in taxes</a>?.

LAA · Jan 31, 2011

I hope they didn"t pay any tax. One thing they did do was create tens of thousands of jobs and do hundreds of billions worth of business with a whole lot of other job creating business"s. Why should they throw good money down the rat hole of the federal government so they can give it to parasites?

Animal · Jan 31, 2011

That is whom I was talking about Nancy. 9.5 billion in profit in the last quarter according to fox business news.

James Babcock · Jan 31, 2011

Yeah, profits are evil, this country really sucks. Vote nnalert

RusselAZ · Jan 31, 2011

Corporations do not pay taxes.

MarkB_MI · Jan 31, 2011

For the same reason mortgage interest is deductible and married couples pay taxes at a different rate than singles: Because that is the policy of our government, as implemented by our elected representatives. Whether or not it is GOOD public policy is besides the point.

NEKS · Jan 31, 2011

Oil companies now days are no little operation. They have the up stream side and the down stream side. Always heard when one side was making a profit the other side was losing. Then you have all them employees to keep things operating. If it like the few employee that I had somebody will make a wrong decision and cost you money. I am not a fan of big oil, but was involved enough to know that the EPA is a lot smarter then the folks that run the oil companies. When they can assess a fine as big as there little pea brain will tell them, its a wonder gas and diesel is not $8.00 a gallon. IF it was not for all the federal and state excise tax on every gallon of fuel used, the goverment would have them all shut down. I know I am a little slow and have always heard about the subsidies big oil gets. Just would like someone to tell me what it is for, the retail side or the refining side. There has to be a reason they are getting it.

mowr · Feb 1, 2011

Where does any business get the money to pay their taxes (and all their other costs)? From their customers. All "corporate taxes" are paid by "we the people" when we buy the services and products. At that point, all those taxes are taxed again by the addition of a "sales tax," Some politicians are even talking about taxing the "corporate taxes" and "sales taxes" that we pay by adding a "value added tax." Without the out-of-control spending and the resultant extreme taxes and regulations that have increased our prices until we can"t compete with other countries, we could still have our jobs.

Anonymous-0 · Feb 1, 2011

Because they can.

tlak · Feb 1, 2011

The last one reads interesting, since they pay high taxes in other countries we get to subsidize them. Says Nigeria taxes them 85% on their profit. Isn't that the cost of doing business in other countries and like I believe anything that comes out of Nigeria.

Traditional Farmer · Feb 1, 2011

The shareholders pay the taxes when they get dividends. If the way the corporate tax structure was set up was applied to inviduals If you made $30,000 this year and then saved $10,000 in a savings account you'd also have to pay taxes again on that $10,000.
I'd much rather the corporations keep the taxes they pay to reinvest than pay it to the Gov't to give to welfare people,foreign Dictators and the like

Anonymous-0 · Feb 1, 2011

Focusing on your comment, "EPA is a lot smarter then the folks that run the oil companies.", did the EPA stop the oil leak in the gulf? What processes has the EPA invented to better our world. Does EPA run at a profit. By extrapolation, does any part of big government, save the military do anything of any use to America? Inquiring minds want to know!

JML755 · Feb 1, 2011

Agree 100%. When the govt says "we're here to help you", watch out. Every time Congress passes a law, there's an army of bureaucrats that enact regulations to enforce it and will end up costing SOMEBODY $$$ down the line. These costs then get passed on to US, the consumer. One glaring example I posted about recently is a proposed regulation that arose out of a Congressional billl that mandated a system to allow drivers to see behind their cars when backing up. Bill didn't say what that system was. Well, the govt bureaucrats are proposing that EVERY new car/truck be fitted with rear cameras at astronomical annual cost.

The problem is that people in govt think they have the answer for every problem that we Americans face in our daily lives. When, in reality, we Americans really can figure out things for ourselves. This is the way it was for hundreds of years. It's only been in the last half century or so that the socialist, entitlement mentality has emerged to try and make us dependent on the people in Washington.

Dean Olson · Feb 1, 2011

I'm certainly not trying to defend them too much, but, it's not the whole story to say that they do not pay taxes. They have lots of employees and withold and match taxes for. Thats a huge contribution to social security Medicare etc. They may have gotten reduced property tax subsidies but those eventually run out. They are paying big property taxes based on the value of their facilities. Our government has vilified business in general. What they don't understand is that whatever they tax the business, the business simply passes that cost on to their customers. When the customer decides not to pay that the business quits. It either fails or moves to another country that is not as greedy as our politicians.

kyplowboy · Feb 1, 2011

Here is how it works, our gooberment don't need money from the companies as long as the China Loan and Trust ain't empty.

Our gooberment takes out loans with China to give out here as unemployment checks to give to the people who's job has been moved to India while Mexico sends people here to do the jobs that Americans don't want. That's how the global ecconomy works, if you don't like it you should call your congressman.

Good luck.

Dave

OT I am a little slow.....

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