How do you feel about the $23 Billion in taxes the Fed govt generated on Exxon's gas sales?

Question

Freedom Fighter just asked a question about Exxon's profit margin. So being the devils advocate, how do you feel about the $23 billion the federal govt generated off the sale of Exxon's gasoline?

Exxon makes about $0.09 cents for each gallon sold. This comes from the time it is pumped from the ground, transported to the refinery, refined, transported to the gas station, and sold to the consumer. For all they spend to make that gallon of gasoline, I have no problem with their profit.

What does the federal govt do for their share? Wait for a consumer to purchase that gallon and take $0.184 cents out of your wallet for every gallon you purchase. So who makes out better on that gasoline purchase? The federal govt or Exxon?

The federal govt does not advertise or are the required by law to say how much profit they made on the tax dollars they generated. So for every 10 gallons you purchase, you pay about $1.84 in taxes. Exxon makes about $0.90 for every 10 gallons.

Do you feel that the federal govt is ripping you off?

Answer 1

"Big Oil" is not the problem, "Big Government" is.

Answer 2

Exxon Mobil floats on a sea of subsidies, having taken billions in direct payments, tax breaks, rigged regulatory rules, military assistance, and other gimmies. Ironically, even as the EPA disses the fledgling renewable industry, their proponents are backing John McCain’s push to give another $4 billion tax break to the five biggest oil corporations. Sure they have a $30 billion tax tab out of the $40 billion they make in profits which gives them $10 billion in after tax profit, but they raise gas prices so all that money they pay as tax comes out of people's pockets and they've been avoiding drilling for oil in the million acres the govt said they could drill, in order to keep oil scarce and gas prices high. And most of our taxes go to pay the interest on the money borrowed from the Federal Reserve Bank and other central banks because of the Iraq war which Exxon is making huge profits because of the gas that has to be sent there since Iraq oil isn't being used which is ever so convenient for Exxon to make a profit.

Answer 3

The government always does this. They are masking the issues with Exxon-Mobil just as they are now masking the issue with Wall Street. What we REALLY need is to clean house and fire everyone. THAT would get their attn. But too many people are stuck on Repub or Democrat mode to actually make that happen.



Not to mention Exxon Mobil is not a public taxing entity. Guess what Chupastupa, that means they can charge whatever they want and don't owe you jack.

Answer 4

What the government gets belongs to all. What Exxon gets belongs to less that 1 % of the population.

Answer 5

Exxon makes about $0.09 cents for each gallon sold



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Incorrect, they make ~ 9 cents on every DOLLAR of product sold. As prices increase, so do their profits, even if productivity declines....

Answer 6

There's two sides to each argument. Take away that $23 billion and what do you tax to make up for it?

Answer 7

our Government needs to be put out on their *** and new people need in there now

Answer 8

Haven't they always?