Exxon Makes $30.5 Billion, GOP Gives Them A Tax Break - They Deserve It More Than Us - They Work Harder Than We Do (house of representatives, salaries)
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Exxon Mobil is by far the most profitable company in the new Fortune 500 list, riding “high oil prices to a staggering $30 billion in income” in 2010.
Exxon made over $10 billion more than fellow oil giant Chevron, the third most profitable company (AT&T edged out Chevron for the number two spot). ConocoPhillips’ $11.4 billion in profits put it in the 16th spot, giving the three oil giants a combined $60.9 billion in profits in 2010.
Today, the Republicans in the House of Representatives celebrated this massive redistribution of wealth from American families to oil executives. With the support of 7 oil-patch Democrats, 234 Republicans voted to block a bill to eliminate a $1.8 billion annual subsidy that treats oil drilling as “domestic manufacturing”:
House Republicans rejected an effort by Democrats Thursday to use a procedural maneuver to force a vote on a bill to repeal a key oil industry tax break.
As they did in March, House Republicans voted unanimously to defend these wasteful, unaffordable and unfair oil subsidies, even though several members told their constituents they want to end them.
Exxon Mobil is by far the most profitable company in the new Fortune 500 list, riding “high oil prices to a staggering $30 billion in income” in 2010.
Exxon made over $10 billion more than fellow oil giant Chevron, the third most profitable company (AT&T edged out Chevron for the number two spot). ConocoPhillips’ $11.4 billion in profits put it in the 16th spot, giving the three oil giants a combined $60.9 billion in profits in 2010.
Today, the Republicans in the House of Representatives celebrated this massive redistribution of wealth from American families to oil executives. With the support of 7 oil-patch Democrats, 234 Republicans voted to block a bill to eliminate a $1.8 billion annual subsidy that treats oil drilling as “domestic manufacturing”:
House Republicans rejected an effort by Democrats Thursday to use a procedural maneuver to force a vote on a bill to repeal a key oil industry tax break.
As they did in March, House Republicans voted unanimously to defend these wasteful, unaffordable and unfair oil subsidies, even though several members told their constituents they want to end them.
Taxing people and giving to others is redistribution.
Oil subsidies actually allows the smaller oil companies to stay in business - not that I want any subsidies, but that's more money the small companies can use for operating purposes.
Exxon Mobil is by far the most profitable company in the new Fortune 500 list, riding “high oil prices to a staggering $30 billion in income” in 2010.
Exxon made over $10 billion more than fellow oil giant Chevron, the third most profitable company (AT&T edged out Chevron for the number two spot). ConocoPhillips’ $11.4 billion in profits put it in the 16th spot, giving the three oil giants a combined $60.9 billion in profits in 2010.
Today, the Republicans in the House of Representatives celebrated this massive redistribution of wealth from American families to oil executives. With the support of 7 oil-patch Democrats, 234 Republicans voted to block a bill to eliminate a $1.8 billion annual subsidy that treats oil drilling as “domestic manufacturing”:
House Republicans rejected an effort by Democrats Thursday to use a procedural maneuver to force a vote on a bill to repeal a key oil industry tax break.
As they did in March, House Republicans voted unanimously to defend these wasteful, unaffordable and unfair oil subsidies, even though several members told their constituents they want to end them.
When those who earned the money keep more of it, that is NOT a redistribution of wealth.
And keep in mind the government makes 400% or more in profit on the same gas the oil company does and they don't do anything to earn it.
Once the companies pay salaries, dividends and such, they pay the same taxes as everyone else.
Only if they reinvest in retooling themselves back up do they avoid taxes for a while.
Destroy medicare! Slash worker benefits! Though keeping government handouts to the biggest corporations in the world is just oh-so-needed. Disgusting how the right are.
when those who earned the money keep more of it, that is not a redistribution of wealth.
And keep in mind the government makes 400% or more in profit on the same gas the oil company does and they don't do anything to earn it. once the companies pay salaries, dividends and such, they pay the same taxes as everyone else.
Only if they reinvest in retooling themselves back up do they avoid taxes for a while.
roflao.
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