Who's really getting obscene profits, Big Oil or Big Government? - Page 2 - Political Fever

dc2ga · #11 (**permalink**) 08-16-2008, 02:24 PM

Quote:

Originally Posted by Chan

Exxon supposedly made $1,400 a second in profits but paid $4,000 a second in taxes. So, who's really making the obscene profits here?

ABC's Gibson Attempts Guilt Trip on Exxon CEO | NewsBusters.org

that doesnt make sense - you arent going to paying nearly 4x in taxes as to what you make

not to mention all the incentives etc. big oil companies get. not buying this at all

Viv · #12 (**permalink**) 08-16-2008, 08:50 PM

Quote:

Originally Posted by Chan

No, it's not illogical at all. What do people do with profits? One of the things they do is SPEND. So also, the government is making obscene profits and then spending it.

So what? What does Government spend money on? Your country, your infrastructure, your education system, your...people's needs.

Would you not rather that profit went to your country's needs than lining an oil company's pockets? What better use could be made of it?

Finny · #13 (**permalink**) 08-16-2008, 09:44 PM

Quote:

Originally Posted by Viv

So what? What does Government spend money on? Your country, your infrastructure, your education system, your...people's needs.

Have you seen our infrastructure and our educations system? If the Government is spending money on that, I'd like to see the receipts for that.

BTW, our Government isn't suppose to provide for someone's needs. If that was it's purpose, I'd love for the Government to buy me 1,000 acre property with a home outside of the city..

Quote:

Originally Posted by Viv

Would you not rather that profit went to your country's needs than lining an oil company's pockets? What better use could be made of it?

You mean the same oil companies that provide jobs and keep people employed so those people don't need the Government?

Get a grip. 10% profit is not that big. I wonder if we should go after Pharm companies, Food Services and Water companies as well. Since they avg 12% or more profit each quarter.

Space_Coyote · #14 (**permalink**) 08-17-2008, 11:39 AM

Quote:

Originally Posted by Finny

Have you seen our infrastructure and our educations system? If the Government is spending money on that, I'd like to see the receipts for that.

BTW, our Government isn't suppose to provide for someone's needs. If that was it's purpose, I'd love for the Government to buy me 1,000 acre property with a home outside of the city..

You mean the same oil companies that provide jobs and keep people employed so those people don't need the Government?

Get a grip. 10% profit is not that big. I wonder if we should go after Pharm companies, Food Services and Water companies as well. Since they avg 12% or more profit each quarter.

Careful Finny, your use of sound analysis is scaring the oil-haters out there.

Oregon Elephant · #15 (**permalink**) 08-17-2008, 12:21 PM

Quote:

Originally Posted by Chan

No, it's not illogical at all. What do people do with profits? One of the things they do is SPEND. So also, the government is making obscene profits and then spending it.

Then it is not a net profit.

Oregon Elephant · #16 (**permalink**) 08-17-2008, 12:30 PM

Quote:

Originally Posted by Finny

You mean the same oil companies that provide jobs and keep people employed so those people don't need the Government?

And the oil companies that are now selling oil at 6x than 10 years ago, which now cause a devalueation of the dollar and inflation, costing far more jobs than they provide and take a bunch of people that were middle class and stuff them into the lower class.

Quote:

Get a grip. 10% profit is not that big. I wonder if we should go after Pharm companies, Food Services and Water companies as well. Since they avg 12% or more profit each quarter.

It's not about the net, it's about the total. But if you want to talk about quarters, last quarter, they had 16.3% (not 10%), the quarter before that was 17.6%, the quarter before that was 17.3%, and the quarter before that was 16.7%. So the last 4 quarters, Exxon has averaged 17.0% net profits, that's alot more than 10%.

XOM: Income Statement for EXXON MOBIL CP - Yahoo! Finance

Finny · #17 (**permalink**) 08-17-2008, 06:24 PM

Quote:

Originally Posted by Oregon Elephant

And the oil companies that are now selling oil at 6x than 10 years ago, which now cause a devalueation of the dollar and inflation, costing far more jobs than they provide and take a bunch of people that were middle class and stuff them into the lower class.

The price of oil does not dictate currency and inflation. It is interest rates set by the Fed and over printing of money that cause inflation.

Read up on it.

Oil prices rise due to inflation and a weaken dollar. Currently the dollar is on a rally and Oil prices have been dropping like a rock. So what does that tell you OE? It tells me that inflation and rising prices comes for the strength or weakness of the Dollar. I.E. deflation or inflation.

Quote:

Originally Posted by Oregon Elephant

It's not about the net, it's about the total. But if you want to talk about quarters, last quarter, they had 16.3% (not 10%), the quarter before that was 17.6%, the quarter before that was 17.3%, and the quarter before that was 16.7%. So the last 4 quarters, Exxon has averaged 17.0% net profits, that's alot more than 10%.

XOM: Income Statement for EXXON MOBIL CP - Yahoo! Finance

Total is pointless. At the end of the day you have to look at Net. As that is the FINAL profit.

Look at what Exxon paid in Taxes.. 10.5 billion out of 22.5 Billion of "profit". That's literally 50% of their profit going to taxes.

USNavySubSailor · #18 (**permalink**) 08-17-2008, 07:27 PM

Quote:

Originally Posted by Michael

What is obscene is each and every last single time there is a Highway Bill before Congress what they are supposed to be doing is spending gas taxes strictly on improving highways. Since that is the infrastructure big oil needs to make their obscene profits, I approve of the concept, but may not approve of how much is going into the gas taxes. Each time the bill is passed, they spend MORE than what they take in with just gas taxes. Then the bill is bloated with pork projects before it finally goes to the president for a signature.

My bottom line is that I do not support the near monopoly status of the biggest two or three oil corporations. Republicans refusing to eliminate subsidies is obscene. The pork is obscene. The spending is obscene. And finally ExxonMobile breaking their own record for profits by any US corporation for any quarter in history while the elderly and working poor are pushed over the brink of barely surviving to the point of dumpster diving for food and having to make a choice between eating and heating in winter or airconditioning in summer.

In 2006 for the first time the Forbes 400 richest Americans list included all billionaires. The discrepancy between the super rich and the poor in this country is obscene. And that includes the $25 million a year plus stock options given to the current ExxonMobile CEO and the $150 million plus stock options given to Lee Raymond, the former CEO. And I believe both are on that Forbes list.

What kind of work do you do Michael? How much do you make? I'm quite sure that no matter what your answer is, some would consider it obscene.
I can understand your issues with subsidies and pork barrel spending, but caring about stock options and profits is ridiculous.
And what the hell does this have to do with the elderly and working poor? Should they benefit from Exxons work? What about the young and the working non poor (like me?) Do I get a piece of that? I've made good decisions in my life, work hard, don't I deserve anything from Exxon or the government?

USNavySubSailor · #19 (**permalink**) 08-17-2008, 07:31 PM

Quote:

Originally Posted by Viv

So what? What does Government spend money on? Your country, your infrastructure, your education system, your...people's needs.

Would you not rather that profit went to your country's needs than lining an oil company's pockets? What better use could be made of it?

That's the problem Viv, who should decide what people should do with their money? The government? Or the individual. The government keeps taking our money, but things don't seem to be getting better. If a company didn't make a profit, do you think they would want to be in business? These aren't charities were talking about, they're in the business of making money. They have employees they have to pay, health benefits, retirement plans, etc. Why don't we ask the lowest paid employee of Exxon if they'd be willing to take a paycut, it's only fair if the highest paid employee has to also, right? Or should the government decide how much a person needs to make to be happy?

Profits just don't "line pockets". They use this money for R&D, charity, employee benefits, etc etc.

USNavySubSailor · #20 (**permalink**) 08-17-2008, 07:36 PM

Quote:

Originally Posted by Oregon Elephant

Whether it is their money or not is personal opinion.

Now you're really scaring me. It's personal opinion as to whether or not our money is actually the government's money? Is that your way of thinking come tax time? You obviously don't claim any exemptions, itemize, anything like that, huh? You know, it's not your money. It's the governments. As President Bush said, the IRS accepts checks and money orders. So do I for that matter.

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