Oil Company Executives Defend Profits

[flash9286]

Originally posted by JohnT
What - The US government decided that it wasn't soaking Exxon enough when it takes its $40 billion and now wants a couple billion more?

Since when is a 10% profit margin for a company that pays out over $110 billion in taxes every year a windfall? You want to double Exxons profits? Lower its overall effective tax rate by 12%... that should do it.

Are you sure thats right becuase I read a report that reported that the effective federal corporate income tax rate for Exxonmobil was only about 1.38 billion dollars for the year 2003.

[pchang]

Corporate income tax is only 1 tax that corporations pay. In fact, it usually one of the smallest taxes they pay.

[flash9286]

So what are the other federal taxes that corporations pay?