Forum Post: ExxonMobil: High Earnings, Low Taxes, No Ethics
Posted 13 years ago on Oct. 15, 2011, 8:55 a.m. EST by ironboltbruce
(371)
from Miami, FL
This content is user submitted and not an official statement
ExxonMobil: High Earnings, Low Taxes, No Ethics: http://wp.me/p19dS3-c2
The Oil and Gas industries, as a whole, make about 6.2% profit, which places than at 114 out of 215 industry sectors. Since they are dealing in such large volumes of a high price commodity their profits are large in terms of total dollars. That is an average profit margin and a very high volume equates in a large dollar profit.
Since they are living by the rules in place I don't see how they are acting unethically. The comments by knowledgebase and bronxj ane right on target as well.
You can't blame Exxon Mobil for this. You have to blame those who created the legal framework that allows it. If the govt passed a law saying that everyone named Vinnie is exempt from taxes, then you can protest all you want--- Vinnie ain't paying no taxes. The proper tactic is not to go after Vinnie but to change the law.
But the govt listens to Vinnie no? And ignores the people in favor of Vinnie? Because Vinnie bribed the govt?
Before we can even repair our government we need to take out the trash. Trash like "Vinnie".
No. More. Corporate. Personhood!
nd how do you "take out' Vinnie without harming the thousands of rank and file that work for Vinnie (83,000 I looked it up)or causing such turmoil that gas becomes $10.00 a gallon due to the sudden elimination of a dominant industry player? Isn't the proper tactic to change the legal framework so Vinnie has to play by the same rules as guy who owns the neighborhood deli and make it easier for smaller players to compete with Vinnie so no one player becomes too big to fail?