MyFox
 

ibejim's Blog

by ibejim from wilmington, delaware

Last Post 6 hours Ago


Windfall on Big Oil???
May 24, 2008 | 9:43 AM
Category: Political
Report This Post

Featured On: MyFoxPhilly

Do your think It's fair to place a winfall tax on big oil companies profits?  We often hear how the oil companies are making huge profits, but , very little about thier actual  profit margin, or, how much they already pay in taxes.

From: business and media.org...

 " The media have also failed to point out how much oil companies already pay in taxes – more than $90 billion in 2006 from 27 oil companies, according to API, and even more in 2007 – as well as the real reason oil company profits are high: volume of sales, not profit margins....

 

     ExxonMobil, the nation’s largest oil company, profited 10 cents for every dollar it brought in revenue in 2007. That puts its profit margin in the middle of other Fortune 500 companies, including Bank of America (18-percent profit margin) (NYSE: BAC), AT&T (11.8 percent) (NYSE: T) and Proctor & Gamble (13.1 percent"

 

  In addition to income taxes, the top 27 companies paid $10.9 billion in non-income taxes and collected more than $48 billion for the federal government in excise taxes on the industry’s products in 2006, API reported.

 

     API estimates the “worldwide effective tax rate … of the top 27 energy companies was 40.7 percent in 2006. For the past three years, the oil and gas industry’s effective tax rate has exceeded top corporate income tax rate of 35 percent"

 

--------------------

Should we place windfall taxes on these other F5 companies (with signifantly higher profit margins) as well, or, just single out the oil companies?

 

How do you think such a tax would effect gas prices at the pump?

 

 

Note: The full article can be found here...http://www.businessandmedia.org/articles/2008/2
0080521143015.aspx

17 Comments |  Add a Comment

Member Comments Total Comments: 17
Page 1 of 1
wood55 read my blog
May 24, 2008 | 5:47 PM

whats your email???
wood55 read my blog
May 24, 2008 | 5:52 PM

i like your pic!!!!
ibejim read my blog view my photos
May 26, 2008 | 6:46 AM

LoL. How are you Tyler? Sorry, don't want to post my e-mail address in a public forum.
gunpowderNlead read my blog view my photos
May 27, 2008 | 11:56 AM

How are you Jimbo? Did you have a nice Memorial Day? I see ya'll got some rainy weather up there. It is stormin in Dallas and I have escaped Jury Duty... so all is well :)
ibejim read my blog view my photos
May 27, 2008 | 5:07 PM

Had a good weekend Guns, thanks for asking.

Sounds like you has a good one also (outside of your sunburn, that is). Funny, I used to go out with a girl that used to like to peel the post-sunburn skin off of me. Odd, isn't it? Something tells me that your husband won't be inclined to do that to you. :)
ibejim read my blog view my photos
May 27, 2008 | 5:51 PM

...Meaning of course, that It's not a "guy" thing.

Congrats on escaping jury duty!

The weather was actually pretty nice up here (overall). The muggies have arrived today, however. Ughh.
gunpowderNlead read my blog view my photos
May 27, 2008 | 5:54 PM

Oh my oh my Jimbo... if you had any idea what a metro sexual I am married to... no he won't be peeling off the post sun burn skin.... it might mess up his manicure. Tee hee! He thought the Tea treatment was ridiculous but hell it worked so I am happy. I love him to death, but he takes longer to get ready every morning than I do... he's a fussy sort. We have a garage full of the latest tools and equipment.... would put Home Depot to shame, nothing has been used... it's there for "looks" because he farms out every kind of maintenance that has to be done on the house right down to the lawn... which is done every 2 weeks by an off duty fireman. I told him with the economy the way it is, he may have to start mowing the yard and tending to the pool and he just looked at me like I had just spoken Japanese to him. I wrote a post a couple of years ago about he and my Southern Belle mother, my gay brother, all rolling down the George Bush Freeway on the way to my nephews HS graduation... it wasn't a good idea to have all three in a vehicle but it provided some entertainment for the masses at the Graduation. :)
ibejim read my blog view my photos
May 30, 2008 | 8:03 AM

ibejim read my blog view my photos
May 30, 2008 | 12:48 PM

Guns, Lol, I can imagine what that ride was like.

BTW, I tried to post that podcast into a blog on your home site, wouldn't let me. Any idea why?
mystere read my blog view my photos
Jun 1, 2008 | 7:44 PM

Ibejim,

I recently had to do a media gig on May 17th & 21st for a radio station. I heard some interesting things from retired Israeli General Shimon Erem and former P.L.O. terrorist Walid Shoebat. Both of them have pointed the finger at Former President Jimmy Carter as the cause for high gasoline prices. They say that the things he did during his presidency and the things he does now against the wishes of the President have been aggravating security in the Middle East. The Muslim Extremists are enslaving the nations by keeping the price of oil high. If you look these guys up on the internet, you'll see some interesting facts about them.
ibejim read my blog view my photos
Jun 2, 2008 | 5:59 PM

Mystere,

Jimmy Carter needs to sit in his rocking chair, with his quilt and little doggie on his lap and a nice warm glass of milk, and quit meddling.

Oh, and lets not forget to put his depends on.
lookoutwindowforcast
Jun 8, 2008 | 10:52 AM

can the people tax the government on the windfall profits they make on the total tax revenue(state and fed) they bring in while they piggy back on the oil companies who do all the work.
ibejim read my blog view my photos
Jun 9, 2008 | 7:54 AM

.......And take all the blame.

Congress.. 535 morons who think that throwing OPM (other people's money) at the problem is always the answer.
mystere read my blog view my photos
Jun 11, 2008 | 4:59 PM

Barry Obama is going to aggrevate the situation even more if that moonbat gets in.
ibejim read my blog view my photos
Jun 12, 2008 | 10:29 AM

Right on Mystere! He can finalize the damage the current congress has already begun to cause.
mystere read my blog view my photos
Jun 13, 2008 | 2:33 PM

Ibejim:

There's something new on newsmax.com regarding drilling for oil. Also on Digg, there is a You Tube of Chuck Norris regarding the same video that newsmax.com is showing. I think you'll agree with Digg blogger "Michael Mooreon" if you go to Digg and read the comment.
ibejim read my blog view my photos
Jun 13, 2008 | 6:52 PM

You know I'm with you Mystere!!


Can you imagine???

The only Hollyworm with a clue is Chuck Norris!!!

Who woulda thunk it!!
Page 1 of 1


Write your comment below:




ibejim

I didn't do it!!

Member Since: 8/18/2007


 

View All Photos