John "Exxon" McCain Must Be Happy Today!

By: Lowell
Published On: 10/30/2008 8:58:17 AM

Yeah, ol' ExxonMcCain, who wants to give oil companies a $4 billion tax cut because he loves them so much (but next to nothing, of course, for the middle class), must be very happy today! (snark/sarcasm)

Exxon Mobil shatters own record for largest profit from operations by a US corporation

HOUSTON (AP) -- Exxon Mobil Corp., the world's largest publicly traded oil company, says it shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.

Bolstered by this summer's record crude prices, the Irving, Texas-based company said Thursday that net income jumped nearly 58 percent, or $2.86 a share in the July-September. That compares with $9.41 billion, or $1.70 a share, a year ago.

The previous record for U.S. corporate profit was set earlier this year, when Exxon Mobil earned $11.68 billion in the second quarter.

Yeah, ExxonMobil definitely needs government assistance in the form of gigantic tax breaks, much more than lower and middle class Americans in danger of losing their homes, jobs, health insurance, etc.  Yeah, in "Exxon McCain" world, that is.

Comments



A national gross receipts tax (tx2vadem - 10/30/2008 9:15:35 AM)
and replace the corporate income tax code.  That's it.


No doubt, the corporate income tax (Lowell - 10/30/2008 9:17:43 AM)
code is broken. Many corporations pay no taxes at all, with all their lawyers and accountants busy finding loopholes and other ways to avoid paying their fair share.  How about just a flat tax on corporate receipts, which I think is what you're suggesting?  


That is what I am suggesting (tx2vadem - 10/30/2008 9:28:19 AM)
GRT is just total revenue times a rate and then you have total tax.  It would just be domestic revenue (US sales).  Then it doesn't matter where people choose to locate their HQs.


More slop for the corporate hogs, oh wait that's OUR money! (Jazzdem - 10/30/2008 11:38:29 AM)
A tax such as that will have them all howling socialism!


And what else is new? (Teddy - 10/30/2008 2:37:41 PM)
By now we all understand that whenever some pimp/politician yells "socialism!" it is a pretty good indication some corporate rat has his tail caught in a crack, i.e., either his personal bonus or some portion of mega-corporate looting has been pinpointed for "assessment," sometimes unwittingly by a clueless elected official or candidate. That goes also for the sudden, unexpected public interest announcements and political attack ads, so often delivered sotto voice by a female voice dripping with an I've-got-a-secret, don't tell tone of voice: "Psst.... what do you really  know about... Barack Obama?" the resonance is a dead giveaway.  


taxes & bailout (carol17 - 10/30/2008 5:50:23 PM)
first mccain wants to give away more of our tax money to the oil companies, second now the banks have gotten some of the bailout and what is the first thing they did?? lower interest rates? no  ease up on credit? no   they paid themselves(shock)  they paid the STOCKHOLDERS, and they still WANT MORE. i will never go to another bank, credit unions are better. and mortage companies should be held accountable for some of this mess. not rewarded.