Monday, February 11, 2008

The Obama Campaign May Not Tell You The Truth...
But The Cavemen will

The Empty Vessel himself recently railed against Exxon-Mobile oil for having the audacity of making a profit. How dare they.

Here's some of BO's quote from the Wall Street Journal; (emphasis mine) “If anybody doubts that our economy is out of balance, I’d point out that Exxon-Mobil posted record profits — $11 billion this quarter alone — at a time when families are struggling to fill up their gas tanks.

On the surface, that sure does sound rather incendiary, huh? But juuuuuust maybe, BO isn't telling us the whole story. Here's some of an article from the Financial Post (of Canada); (emphasis mine)

In the press briefing, public affairs vice-president Ken Cohen stressed the importance of putting such large profits in context by looking at the scale of Exxon Mobil's business, such as that the company spends "about $1 billion every day just to keep the door open and run our operations," that it's investing at record levels and that it's committed to investing through the ups and downs of the business cycle.

The company also explained how its profits are spread around.

"Millions of people benefit financially, as either individual shareholders, or through their pension, insurance and mutual funds that hold Exxon Mobil shares," Mr. Cohen said. "We have over 2.5 million individual shareholders alone, and for every dollar we earn, we contribute $2.50 in taxes the governments use to provide schools, roads, hospitals, and other essential services. In the U.S. alone, our total tax expenses over the past five years were about $65 billion, exceeding our U.S. earnings during that period by more than $18 billion."
I'd also like to point out a teensy bit of info from an op/ed piece from Greg Gutfeld of Fox News; (emphasis mine)

On his blog, economics professor Mark J. Perry points this out brilliantly — that while we obsess over corporate profits, no one gives them credit for the massive taxes they pay to keep our country afloat.

Exxon paid $30 billion last year in taxes, which is as much, annually, as the bottom 50 percent of individual taxpayers. We're talking 65,000,000 people — and one, if you count Bill.

And did you know that the tax rate for the bottom 50 percent is only 3 percent? Meanwhile, for Exxon it's 41 percent.
By the way, how many people have a JOB because of Exxon-Mobil? I have a news flash for BO -- government doesn't create jobs, BUSINESS creates jobs!

And while I'm at it, I'd like to point out that businesses really never do "pay taxes"... they just pass the cost on to the consumer. Be it Exxon-Mobil or Joe's Neighborhood Bar & Grill. So let's face facts here - when the government taxes the living hell outta some company, it's really YOU AND ME who are getting financially sodomized.

So when BO states that "our economy is out of balance", he's exactly right. The government is WAAAAAYYYYY too deep in my wallet. Barack Obama needs to balance his ass the hell outta my life.


Blogger Anna B. said...

LMAO... Last paragraph.

12:03 AM  
Blogger deb said...

I had no idea that Exon Mobil pays 51% taxes!

1:45 PM  
Blogger Amy said...

Yes - well, whenver politicians (specifically liberal politicians) talk about 'profits' it's always a bad thing. Capitalism is a bad thing (except when it benefits them or their Hollywood cronies), and taxes are the solution.

A company is not obligated by law to stay here. You tax and regulate them too much, and they'll leave. Then where do jobs come from? Where does income come from?

But I'm guessing Obama's utopian vision for America is a welfare socialist state where everyone makes the same, owns the same, and is not in anyway rewarded for hard work or smart investing.

His contempt for tax paying companies, the "rich", and hardworking families betrays him.

3:34 PM  
Blogger Arkanabar T'verrick Ilarsadin said...

This sort of dead on commentary regarding the federal government's fiscal and tax policies needs far wider dissemination, VSC. Keep it up!

5:56 PM  
Blogger Theophilus said...

The problem with these politicians is statism. They don't trust hard work and smart investing. It is a pity that such free-enterprise values are so low in the world nowadays - statism is generally thought of as the only political solution on earth, the panacea for all human troubles and needs.

4:21 AM  
Blogger JennyZ said...

Food for thought:

Number of years since Roe v. Wade: 35

Age a person must reach to be elected President: 35

Number of decent 2008 Presidential candidates: 0

8:35 AM  

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