- Scott Miller
With the Obamarxist, and his little socialist sheep in Congress, out there calling for a “windfall profits” tax (whatever the hell that is)… we thought we’d counter that proposal with a “windbag politician” tax cut. It works like this; every time one of the windbag politicians on the left opens their yap about windfall profit taxes, we cut the oil companies tax rate by 1/100th of a percent… me thinks Chucky Schumer would wipe out their tax base altogther, by himself, within a weekend.
You see, every three months we are treated to the same socialist propaganda from our socialist media… “OH MY GOD! Look at how much money those big bad oil companies are making! We’ve got to do something about these obscene profits!”… or some similar version thereof. Here’s a sample of their latest propaganda from CNN:
Exxon posts record $11.68 billion profit
NEW YORK (CNNMoney.com) — Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
That profit works out to $1,485.55 a second.
But buried deep down in the article comes this nugget (I’m surprised they actually reported it to tell you the truth):
In addition to making hefty profits, Exxon also had a hefty tax bill. Worldwide, the company paid $10.5 billion in income taxes in the second quarter, $9.5 billion in sales taxes, and over $12 billion in what it called “other taxes.”
Total those taxes up, and Exxon paid $32 BILLION dollars in taxes in the past three months. $32 BILLION! Or in other words they paid the government three times as much as they made in profit.
Now truth be told, (and we can’t rely on the socialist media or even our school teachers to teach this) Exxon actually didn’t pay that $32 BILLION in taxes last quarter… YOU DID! You see, corporations don’t pay taxes, consumers pay those taxes buried in the cost of the product. A corporation is not a person, persey, it is merely an entity on paper… and all corporations do, is pass the taxes onto the consumer in the higher price of the goods they sell.
So when you hear a politician say “we’re gonna’ tax those greedy companies, and spend their money on you over here…”, hang onto your wallet, because they are actually saying that they are going to implement yet another tax on you. So all those suckers out there buying into Obamarxist’s windfall taxes on “Big Oil”… ‘yeah, yeah, make them pay!’… they will be ones paying even higher prices at the pump… and Obama will chuckle to himself and marvel at the stupidity of the ones who fall for it.
