Submitted by CARPE DIEM
Actually, income taxes of $9.3B are only about 1/3 of Exxon’s total tax liability of $29.3B for the first quarter of 2008, according to this press release (see top chart above). Further, Exxon paid close to $3 in taxes ($2.69) for each $1 it earned in profits.
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1 user commented in " Exxon Paid Almost $3 in Taxes for Every $1 Profit "
Follow-up comment rss or Leave a TrackbackThree dollars in taxes for every one dollar earned as profit? Wow! How can they survive?!?!?
…Exxon spent $8 billion buying back shares in the first quarter. Companies buy back shares to increase the value of the remaining shares outstanding…
…”I think Exxon has decided to mask some of their profitability because they don’t want the political risk”, said Robbert Van Batenburg, Head of Global Research at Louis Capital Markets, a brokerage. “Above and beyond this, their results were outstanding.”
Making a font bold does not fool everyone.
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