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WHILE YOU WERE OUT BITCHING ABOUT THE GUY WHO BOUGHT A SNICKERS BAR WITH HIS FOOD STAMPS, EXXON POCKETED $9000 OF YOUR TAX DOLLARS. THAT THE DID NOT EARN, THEY SURE DON'T NEED.

Grandma Barb 2013/08/16 17:21:17
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Isn't it about time this country got their priorities straight? I'm sick and tired of helping the huge oil companies and the financial thieves on wall street line their pockets, while they pay minimum taxes on the billions they rake in!

GE paid no taxes at all last year. Doesn't that get to you, while the GOP legislators are trying to get the services that help our poorest families and their children, generally in THEIR own states, terminated.

The largest number of recipients of these programs are living in the states that these idiots represent. States like Mississippi, Georgia, Louisiana, Kentucky - in other words, poor, southern states.

And don't whine about the highest income tax in the world. Most of these companies have a whole cadre of lawyers that make sure they pay almost nothing, not to mention the funds that are in off shore account. They are thieves, and you, the republican base, support them. Why? They put nothing back into our economy. Nothing.

It is the small business man, the one who has a profit of about $250,000 a year, (hell, I'd even go as high as $500,000). Give them and everyone below them, including labor a pass on paying any taxes at all.

Unfettered Capitalism is just as dangerous as Pure Socialism. Look at the income disparity in this country. Go to this site and watch the video: http://neweconomy.net/content/wealth-inequality-america. Harvard did the economic study that came up with these charts. We are on the same line there as our math scores, and our science scores. Greece has a better income spread.

1% of the population controls 40% of the wealth. 20% of the population controls 93%. That means 19% of the population control 33%. This means that 80% of the population share 7% of the wealth in this country. 95% of those people are working their asses off, and are just barely making it, and some are working their asses off and not making it at all. So the big corporations are counting on the government to subsidize their wages. More corporate welfare.

Think about this. It is obscene!

Read More: http://neweconomy.net/content/wealth-inequality-am...

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  • stfu 2013/08/16 17:41:37
    A fair economic system does not mean Socialism. Unfettered Capitalism is des...
    stfu
    +8
    Socialism is a redistribution of wealth.. It doesn't matter if the wealth goes to the rich OR the poor.. It is still socialism. What you are experiencing IS Socialism.. Crony capitalism IS SOCIALISM.. Why don't people get it? Free market CAPITALISM is when companies do it without the help of the government. There is nothing wrong with free-market capitalism. Capitalism IS the fair economic system.

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  • juju.busby 2013/08/17 17:24:28
    Isn't it time we changed the Corporate Welfare system in this country??
    juju.busby
    I'm not having a problem with people buying food. Snicker's bars are food. Yes, they are not the best, but still they're food.

    I HAVE A PROBLEM WITH THE PERSON SELLING THEIR CARD ON THE STREET FOR CASH.

    I don't like Corporate Welfare, but I HATE COMMUNISM. We already have Socialism here. You may not recognize it, but roads, infrastructure, schools, city water/ sewer, power, etc. are all Socialism. We have to come to agreement, and keep Communism out simultaneously
  • Grandma... juju.busby 2013/08/17 21:57:12
    Grandma Barb
    So you don't believe in any kind of public works financed collectively through a central government?

    The forms that communism has taken in the last century were pretty destructive. Assuming that any kind of socialism would be same is not accurate.

    What the human animal has been doing for the past several thousand years is experimenting with governmental types.

    We thought we had the perfect government with our Constitution. And I think we do, but we do not when it is hand in hand with capitalism. At least not unregulated capitalism. Progressives do not want a socialistic government where the government owns everything. Russia proved that did not work.

    All modern socialistic countries believe in private ownership and then tax to fund the social programs. The only thing that is provided, absolutely free, is the right to medical treatment and education. That is really all! Yea, they are taxed pretty high to pay for it. but they don't have 25% of the worlds prisoners with only 5% of the worlds populations. Think about that for a minutes. That is sick! And they don't have people dying because of an inability to afford medical treatment.

    They sure don't have the income disparity that we do in this country. 20 % of the people, own 93% of the wealth in the US. 80% of th...



    So you don't believe in any kind of public works financed collectively through a central government?

    The forms that communism has taken in the last century were pretty destructive. Assuming that any kind of socialism would be same is not accurate.

    What the human animal has been doing for the past several thousand years is experimenting with governmental types.

    We thought we had the perfect government with our Constitution. And I think we do, but we do not when it is hand in hand with capitalism. At least not unregulated capitalism. Progressives do not want a socialistic government where the government owns everything. Russia proved that did not work.

    All modern socialistic countries believe in private ownership and then tax to fund the social programs. The only thing that is provided, absolutely free, is the right to medical treatment and education. That is really all! Yea, they are taxed pretty high to pay for it. but they don't have 25% of the worlds prisoners with only 5% of the worlds populations. Think about that for a minutes. That is sick! And they don't have people dying because of an inability to afford medical treatment.

    They sure don't have the income disparity that we do in this country. 20 % of the people, own 93% of the wealth in the US. 80% of the people own 7% of the wealth, 19% owns 37% and 1% owns 40%. That is pretty skewed. Something is going wrong.

    Denmark and Finland are two countries that are socialism, but they are very similar to US. Private ownership, social medical and education (with fairly high taxes - right around 35%). The difference is, their industry pays their taxes. And they have stronger labor.

    China, on the other hand, is claiming socialism, and not communism, because it recognizes that private ownership is much more productive. But it's income disparity is one of the worse, not much worse than our, but close.
    (more)
  • Lady Whitewolf 2013/08/17 10:03:54
    Isn't it time we changed the Corporate Welfare system in this country??
    Lady Whitewolf
    NO MORE CORPORATE WELFARE
  • Grandma... Lady Wh... 2013/08/17 16:15:25
    Grandma Barb
    +1
    I agree.
  • Lady Wh... Grandma... 2013/08/17 20:45:14
    Lady Whitewolf
    thankies!
  • A Founding Father 2013/08/17 02:36:10
    A fair economic system does not mean Socialism. Unfettered Capitalism is des...
    A Founding Father
    +1
    When prices of anything significant increases, corporate profits rise and the traded stocks go up in price, CEOs make larger bonuses, a stock index rises, and the eighty eight percent of Americans who own no stock actually cheer. "Things are looking up", they say,
    "Why I heard the CEO of EXXON was given a $150 Million bonus today and the price of regular gasoline is going to hit $4.00 before the end of the month". "Yessir, the economy is doing great".
  • Moniker 2013/08/17 01:56:17
    No, leave everything alone. I like it just the way it is!
    Moniker
    +1
    What Obongo's billions of dollars spent on failing "Green" energy.BTW if someone didn't steal it from you leave them alone. People are rich because they are good at working with money, (maybe a few steal). If you want money like them get off your ass and stop making very biased very stupid SH polls.
  • robh82 2013/08/17 01:35:14
    No, leave everything alone. I like it just the way it is!
    robh82
    +1
    your choices are biased, but anyway.

    those companies get tax breaks because we offer them to get those companies to act in ways we see as a benefit...deductions for solar panels, energy efficiency, this program and that one....if we dont like companies taking advantage of the tax code then it is our fault for trying to influence them with these deductions. the answer is simple...simplify the tax code....15%...thats it, no way out.

    let's not forget these big companies create jobs....with jobs come income taxes.....and in the case of "evil" oil companies the government makes more in gas taxes than the companies profit....so it works out.

    the guy with the snickers bar though doesnt have a job, unlike those oil execs, and thats why nobody likes him...hes friggin lazy...if you need money from the american worker you should be buying only what you need and should do your best to respect those who gave you the cash by spending it wisely. some people need help...and i want to help them too...but nobody wants to buy strangers snickers bars...except on halloween.
  • Bibliophilic 2013/08/17 00:35:48
    Isn't it time we changed the Corporate Welfare system in this country??
    Bibliophilic
    +2
    Yeah... a poor person having a tiny $1 luxury is not a problem. Corporate welfare is out of control.
  • Lady Wh... Bibliop... 2013/08/17 10:04:14
    Lady Whitewolf
    YA THINK?
  • Cliff 2013/08/17 00:30:47
    Isn't it time we changed the Corporate Welfare system in this country??
    Cliff
    How many thousands of guys bought Snickers bars?
  • bricklyn 2013/08/17 00:19:21
    Isn't it time we changed the Corporate Welfare system in this country??
    bricklyn
    +2
    Pathetic that no one seems to care about the billions of dollars in corporate welfare being spend on big business, but a man buying a chocolate bare is front page news. When will American ever get their priorities straight???
  • Chibi Guru Z 2013/08/16 23:59:54
    Isn't it time we changed the Corporate Welfare system in this country??
    Chibi Guru Z
    +2
    We don't have "unfettered" Capitalism. We have a situation where the biggest and fattest of the cats, through their bought-and-paid-for politicians, manipulate things to their own unfair advantage. So Exxon does not have to compete just like every body else.
  • none 2013/08/16 23:50:30
    No, leave everything alone. I like it just the way it is!
    none
    +1
    If Exxon made $9000 of us in that much time remember it's a fraction of what the Fed and State govts made in the same amount of time of the gas. Oil company profits are tiny compared to what the govt makes on oil.
  • KCurtis 2013/08/16 23:47:43
    No, leave everything alone. I like it just the way it is!
    KCurtis
    +1
    Explain how Exxon Income is only 20% of the money wasted on bankrupt GREEN COMPANIES like Solyndra. DAH!
  • the Supreme 2013/08/16 22:20:47
    Isn't it time we changed the Corporate Welfare system in this country??
    the Supreme
    +2
    don't forget walmart that evil ceo pockets billions of dollars and refuses to pay minimum wage and she uses our tax dollars to pay her employees
  • Adakin ... the Sup... 2013/08/16 23:03:26
    Adakin Valorem~PWCM~JLA
    "refuses to pay minimum wage and she uses our tax dollars to pay her employees"

    Please explain your statement. They don't pay minimum wage? How are they using my tax dollars to pay their employees? Can you provide citation or links that support your statement?
  • robh82 the Sup... 2013/08/17 01:22:43
    robh82
    walmart is a retail company that takes advantage of efficiencies of scope and scale to offer the same goods at a lower cost. walmart doesnt put mom n pop out of business, advances in infrastructure and technology put mom n pop out. a large retail organization with walmarts logistical skills was going to figure out they could use advanced distribution systems, just in time inventory, and large purchases to obtain better prices. it ended up being walmart.

    what everyone forgets in this argument is that mom n pop also pay minimum wage...all retailers pay minimum wage. its the nature of retail.

    also it is the goal of our society to make advancements in efficiency that lowers the price of goods and therefore raises the purchasing power of the poor. walmart makes it possible for the lower class to have greater purchasing power despite stagnant growth in incomes over the last few decades as our manufacturers have left the country to take advantage of better business climates overseas. so walmart hasnt hurt the poor, they have done more for them than any keynesian policy.
  • Masaca 2013/08/16 22:17:40 (edited)
    A fair economic system does not mean Socialism. Unfettered Capitalism is des...
    Masaca
    +2
    I agree.

    18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. Taxes: CTJ

    http://www.huffingtonpost.com...

    and a 2012 article on the subject

    26 Major Corporations Paid No Corporate Income Tax For The Last Four Years, Despite Making Billions In Profits


    http://thinkprogress.org/econ...
  • Adakin ... Masaca 2013/08/17 00:07:52
    Adakin Valorem~PWCM~JLA
    "18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. Taxes: CTJ"

    The first paragraph of your HuffPost article says: "Apple may be getting all the attention from lawmakers and the news media for its offshore tax practices, but a new report finds that other major companies are using similar tactics to avoid paying taxes on billions of dollars in profits."

    "Apple came under fire last month after a Senate hearing revealed that the company paid just 2 percent in taxes on $74 billion in profits by housing its money in an Irish subsidiary that hadn’t declared its tax residency anywhere in the world."

    Yes, $74 Billion from OVERSEAS profits, earned elsewhere, not here. Greed, is not limited to corporations... it is manifested by our Politicians that want to grab a piece of that action from those who EARNED IT.

    "Apple CEO Tim Cook told lawmakers that the company pays “all the taxes we owe,” which, while technically true, offers an example of the larger issue of corporate tax avoidance that some lawmakers are targeting." But HuffPost makes no mention of the fact that Apple paid over SIX BILLION in taxes last year on profits earned from domestic sales.

    "Citizens for Tax Justice" makes no mention of the fact that corporations merely collect taxes and t...





    &



    "18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. Taxes: CTJ"

    The first paragraph of your HuffPost article says: "Apple may be getting all the attention from lawmakers and the news media for its offshore tax practices, but a new report finds that other major companies are using similar tactics to avoid paying taxes on billions of dollars in profits."

    "Apple came under fire last month after a Senate hearing revealed that the company paid just 2 percent in taxes on $74 billion in profits by housing its money in an Irish subsidiary that hadn’t declared its tax residency anywhere in the world."

    Yes, $74 Billion from OVERSEAS profits, earned elsewhere, not here. Greed, is not limited to corporations... it is manifested by our Politicians that want to grab a piece of that action from those who EARNED IT.

    "Apple CEO Tim Cook told lawmakers that the company pays “all the taxes we owe,” which, while technically true, offers an example of the larger issue of corporate tax avoidance that some lawmakers are targeting." But HuffPost makes no mention of the fact that Apple paid over SIX BILLION in taxes last year on profits earned from domestic sales.

    "Citizens for Tax Justice" makes no mention of the fact that corporations merely collect taxes and the price that all of us pay for the products and services provided by these companies are inflated so as to cover the cost of the taxes that are EMBEDDED within the production costs of the products they provide to consumers.

    Americans for Tax Fairness have estimated that upwards of 22% of the cost of everything we buy is the cost of embedded taxes. If corporations and business in general had NO TAXES imposed upon their profits, the prices we pay for vertually everyting would be less by an average of their 22% estimate.
    == == ==
    "26 Major Corporations Paid No Corporate Income Tax For The Last Four Years, Despite Making Billions In Profits"

    Masca, did CTJ mention if any of these corporations violated any tax laws? No? Well then, I guess all those political contributions are buying the government that they want. All those loopholes and deductions are expensive! In the meantime, the rest of us that own small corporations, mom & pop businesses and sole propriatorships that don't have the money to hire Washington Lobbyists or expensive tax lawyers and CPA, we carry the full brunt of our 35% corporate tax rates... and when the after tax profits are distributed to the owners, i.e. the shareholders they are TAXED AGAIN on their dividends recieved from their corporate ownership.

    So if "Citizens for Tax Justice" had its way. Those dollars of profit earned overseas would pay a tax to the nation where the profit was earned. It would pay another tax to the U.S. upon bringing the net profit into the U.S. AND it would pay tax one more time when the Net, Net, Net Profit is distributed to the shareholders.

    Tell me Masca, how many times should the same dollar of profit be taxed?
    (more)
  • Masaca Adakin ... 2013/08/28 20:31:41
    Masaca
    You say

    " Yes, $74 Billion from OVERSEAS profits, earned elsewhere, not here. Greed, is not limited to corporations... it is manifested by our Politicians that want to grab a piece of that action from those who EARNED IT."

    Nowhere in the article does it state that Apple, or any other corporation that falls under the accustaion of tax avoidance made that money elsewhere. it states that the coporation(s,) that are using this type of tax dodging aparatus are using oher countries tax laws, or the lack of to shelter their profits from federal taxes, while in fact charging us 9the consumer,) the taxes all the same.

    Now while you use the phrase "The rest of us that own small corporations, mom & pop businesses and sole propriatorships,' you still defend them? That will never make any sense to me, or others like me, partuicluarly since the current tax codes, including the ACA does not affect you (unless you have X amount of employees and (pocket over 249,999.00 per year.

    So my question to you is, why do you defend those (huge,) corporations who are not paying any taxes, or far less than their fair share while joing forces with them and their political mouthpieces to demonize those of us who have absolutely nothing, littel to nothing, or who are on the verge of losing verything we have worked (in sme cases,) lifetimes for?
  • Death The Kid 2013/08/16 21:44:53
    A fair economic system does not mean Socialism. Unfettered Capitalism is des...
    Death The Kid
    I wouldn't say we have unfettered capitalism, but I would say people are far too predatory for unfettered capitalism.
  • Adakin ... Death T... 2013/08/17 00:09:22
    Adakin Valorem~PWCM~JLA
    " I would say people are far too predatory for unfettered capitalism."

    Really? How's that? First, can you point to any "unfettered" capitalism in the U.S.? And what is "predatory" for ... capitalism? Please explain.
  • Death T... Adakin ... 2013/10/01 23:40:27
    Death The Kid
    I said we don't have unfettered capitalism. We shouldn't.

    There are all sorts of predatory practices in the free market, do you really need me to point a few out for you?
  • Adakin ... Death T... 2013/10/02 00:25:19 (edited)
    Adakin Valorem~PWCM~JLA
    Sure, go ahead and cite a few examples. But first, please define your terms, if different from google's definition... i.e. "unfettered" (verb - release from restraint or inhibition) and "capitalism" (an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.)

    So how are people "far too predatory for unfettered capitalism"?
  • robert 2013/08/16 21:30:46
    No, leave everything alone. I like it just the way it is!
    robert
    +1
    For your information; GE pays no taxes because their CEO is Obamas jobs csar !! It pays handsomely to be friends of Obama !!
  • Grandma... robert 2013/08/16 22:07:29
    Grandma Barb
    +1
    Then it should change shouldn't it???
  • robert Grandma... 2013/08/16 22:14:33
    robert
    +1
    Absolutely it should change! Just pointing out neither side is innocent, and Obama has been making many of his friends "super rich "
  • Adakin ... robert 2013/08/17 00:10:38
    Adakin Valorem~PWCM~JLA
    +1
    Exactly Robert... that's why "Unfettered" is the wrong term. The proper term is "CRONEY" Capitalism
  • robert Adakin ... 2013/08/17 00:15:46
  • bricklyn robert 2013/08/17 00:21:22
    bricklyn
    Obama did NOT create the income tax laws. MORON
  • robert bricklyn 2013/08/17 00:37:25
    robert
    +1
    No he just cancelled keystone pipeline, So his friend warren buffet could charge three times the price to transport North Dakota oil to the refineries. He just awarded contracts to Jeffry Immelt (GE's CEO) so he could make more profits and pay no taxes, and serve as Obamas jobs czar!!! What is it about Obama that makes anyone think he puts the poor people first? He does not!!
  • robert bricklyn 2013/08/17 00:38:05
    robert
    An moron is not something you should be calling anyone
  • JCD aka "biz" 2013/08/16 21:21:50 (edited)
    A fair economic system does not mean Socialism. Unfettered Capitalism is des...
    JCD aka "biz"
    +3
    GOP Rep. Stephen Fincher hates food stamps, but he collected more than $3 million in "farm subsidies", courtesy of the American taxpayer.

    - edited for spelling
  • Adakin ... JCD aka... 2013/08/17 00:11:46
    Adakin Valorem~PWCM~JLA
    Change the tax law and the subsidies go away. http://www.fairtax.org/site/P...
  • Jackie G - Poker Playing Pa... 2013/08/16 21:20:40 (edited)
    No, leave everything alone. I like it just the way it is!
    Jackie G - Poker Playing Patriot
    +3
    NONE OF THE ABOVE

    In 2011 the three oil giants paid more income tax than any other American corporation. ExxonMobil paid $27.3 billion in income tax, Chevron paid $17 billion, and ConocoPhillips paid $10.6 billion.

    Talk about things you understand and Get a damn grip
  • Grandma... Jackie ... 2013/08/16 22:31:37
    Grandma Barb
    +2
    Instead of talking down to people, and making yourself seem small and petty, try a civil discussion.
    I do not have any problem at all with people making a fair profit on their investment and risk. The definition of what is fair is the issue. Exxon pretty much charges what it wants for it's product. And we all buy gas. Same with the others. Some competition but not much.

    If you are bleeding your customer's dry, not paying a living wage, and have the deck pretty much stacked in your favor thru crony capitalism, and have the government in your pocket. Something is wrong.

    Oh, I have a grip. I guess Exxon, who is also using their profits to buy back their stock, so they can give larger bonuses to their CEO's - Waaaaa, they must have a hard time living on what they are raping the American public for. $428 Billion (B), after they write off everything, and end up with $78 Billion, and pay $31 Billion in taxes on that $78. I'd say they were doing pretty damn good.

    1. ExxonMobil
    • Income tax expense: $31.05 billion
    • Earnings before taxes: $78.73 billion
    • Revenue: $428.38 billion
    •1-year share price change:

    2. Chevron
    • Income tax expense: $20.00 billion
    • Earnings before taxes: $46.33 billion
    • Revenue: $222.58 billion
    • 1-year share price change: 9.52%
    • Industry: Oil and gas

    3. Apple
    ...










    Instead of talking down to people, and making yourself seem small and petty, try a civil discussion.
    I do not have any problem at all with people making a fair profit on their investment and risk. The definition of what is fair is the issue. Exxon pretty much charges what it wants for it's product. And we all buy gas. Same with the others. Some competition but not much.

    If you are bleeding your customer's dry, not paying a living wage, and have the deck pretty much stacked in your favor thru crony capitalism, and have the government in your pocket. Something is wrong.

    Oh, I have a grip. I guess Exxon, who is also using their profits to buy back their stock, so they can give larger bonuses to their CEO's - Waaaaa, they must have a hard time living on what they are raping the American public for. $428 Billion (B), after they write off everything, and end up with $78 Billion, and pay $31 Billion in taxes on that $78. I'd say they were doing pretty damn good.

    1. ExxonMobil
    • Income tax expense: $31.05 billion
    • Earnings before taxes: $78.73 billion
    • Revenue: $428.38 billion
    •1-year share price change:

    2. Chevron
    • Income tax expense: $20.00 billion
    • Earnings before taxes: $46.33 billion
    • Revenue: $222.58 billion
    • 1-year share price change: 9.52%
    • Industry: Oil and gas

    3. Apple
    • Income tax expense: $14.21 billion
    • Earnings before taxes: $55.96 billion
    • Revenue: $164.69 billion
    • 1-year share price change: -20.68%
    • Industry: Computer hardware

    5. Wal-Mart
    • Income tax expense: $7.98 billion
    • Earnings before taxes: $25.74 billion
    • Revenue: $469.16 billion
    • 1-year share price change: 21.87%
    • Industry: Supermarkets
    (more)
  • Jackie ... Grandma... 2013/08/16 22:33:01
    Jackie G - Poker Playing Patriot
    +1
    You chose how you feel, I cannot make you feel anything. Perhaps you should consider your own over sensitivity
  • Grandma... Jackie ... 2013/08/16 23:52:02 (edited)
    Grandma Barb
    +1
    I don't feel anything. Ahhhh, I felt like you were talking down to me. Sorry if you weren't. I just love a good discussion, and hate it when people use personal attack to try to win the point. I apologize if that is not what your intention was.

    "Get a damn grip" was what cued me.
  • Jackie ... Grandma... 2013/08/17 00:05:31
    Jackie G - Poker Playing Patriot
    +1
    Okay.

    You cite the 5 corps -- Walmart 3.4% profit margin - seems low to me, I would be fired if I came in at that margin

    the Integrated Oil and Gas industry made an average profit of 6.2 cents per dollar of sales, which ranks #114 out of 215 industries by profit margin, and puts oil companies right in the middle of industries by profitability.

    Looking at total dollars is exactly wrong when it comes to looking at businesses - the profit margins tell us much more. Considering that Exxon alone employs 76.900 (2012 numbers) , I say leave them alone.

    Suggest you look at how much federal and state and, in some areas, county and city taxes are on a gallon of gas - it isn't the profit the oil company is making that should give you heart burn - it is the damn taxes on it.

    Later

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