Wednesday, February 06, 2008

Exxon's 2007 Tax Bill: $30 Billion

It's hard to believe how much money this is:

Corporate profits receive a lot of media attention, but what receives considerably less attention are the corporate taxes paid on corporate profits. Do a Google search for "Exxon profits" and you'll get about 8,000 hits. Now try "Exxon taxes" and you'll get a little more than 300 hits. That's a ratio of about 33 to 1.

I'm pretty sure that Exxon's tax payment in 2007 of $30 billion (that's $30,000,000,000) is a record, exceeding the $28 billion it paid last year.

By the way, Exxon pays taxes at a rate of 41% on its taxable income! Read More.

1 comment:

Richard Abanes said...


This has NOTHING to do with the Exxon post, lol. But I couldn't figure out any other way to contact you. I think you'd be interested in these new articles I have up regarding Rick Warren:

Feel free to contact me or post news if appropriate.

R. Abanes