Ban Profits!

4 Responses to Ban Profits!

1. Peggy says:

   Wednesday, September 12, 2012 at 7:39 am

   DNC delegats on socialism
2. Tina says:

   Wednesday, September 12, 2012 at 11:21 am

   Our educational system must change…not one of these adults knows about or understands:

   1.The concept and principles of freedom.

   2.From whence their own prosperity & profits come

   3.Capitalism and the benefits that flow to everyone from the free market system.

   4.Government money flows from enterprise…and most of it already flows from those who earn the most profit.

   a. Corporations pay high tax rates on profits
   b. CEO’s and high salaried employees pay the most.

   The top ten percent of earners pays seventy percent of federal taxes. Other sources of revenue come from payroll taxes, of which companies pay half, and taxes on consumption of things like fuel (2009):

   http://www.fhwa.dot.gov/policyinformation/pubs/hf/pl11028/chapter6.cfm

   Total federal HTF receipts are $30.1 billion in 2009. This is a decrease of $1.2 billion (4 percent) from 2008 receipts. Of the amount collected in 2009, $27 billion (89 percent) comes from motor fuel taxes and $3.2 billion (11 percent) comes from other taxes, such as on truck and tire sales.

   This revenue is paid into government by citizens as they consume. This is possible only because oil companies invest in creating the product and they pay big bucks into government on profits:

   http://www.forbes.com/sites/christopherhelman/2012/04/16/which-megacorps-pay-megataxes/

   Last year ExxonMobil churned out net income of $41 billion, while Chevron netted $27 billion and ConocoPhillips $12.4 billion. With profits like that, these guys couldnt possibly be paying enough taxes, right? So says the president, who in late March urged Congress to take away their tax breaks, insisting that doing so could bring in $25 billion in additional tax revenue over 10 years. They can stand with big oil companies, or they can stand with the American people, the president said.

   The Senate, in late March, voted down the presidents proposal 51-47 on a bill that needed 60 votes to survive. Its unlikely that the senators spent much time poring over financial statements and annual reports. But if they had it might have given them a reason to vote against the presidents wishes. In 2011 these three oil giants each paid more in income taxes than any other corporation in America.

   ExxonMobil in 2011 made $27.3 billion in cash payments for income taxes. Chevron paid $17 billion and ConocoPhillips $10.6 billion. And not only were these the highest amounts in absolute terms, when compared with the rest of the 25 most profitable U.S. companies (see our slideshow for the full rundown of who paid what), the trio also had the highest effective tax rates. Exxons tax rate was 42.9%, Chevrons was 48.3% and Conocos was 41.5%. Thats even higher than the 35% U.S. federal statutory rate, which is already the highest tax rate among developed nations.

   (The lowest taxpayers among the most profitable companies? Automakers Ford and GM, despite $20 billion and $9 billion in net income, respectively, paid a scant $270 million and $570 million in taxes simply because they have billions in previous-year losses to balance against recent profits.)

   http://www.forbes.com/sites/christopherhelman/2012/04/16/which-megacorps-pay-megataxes/
3. Peggy says:

   Wednesday, September 12, 2012 at 12:35 pm

   Here is the video that didn’t post to my earier comment on the DNC delegats about socialism.
4. Pie Guevara says:

   Wednesday, September 12, 2012 at 2:46 pm

   No doubt about it, this is the face of the Democratic Party. Lunatics!

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