Should Taxes be MORE than Company Profits?
There’s a problem with the anti-business rhetoric being bandied about. In case we’ve forgotten, businesses create jobs – jobs that drive the economy. Businesses also pay taxes – a lot of taxes. Quick quiz. Did you know… • In 2011, ExxonMobil made profits after taxes of $41.4 billion on sales of $486.4 billion. That’s ~ 8.5 cents in profits per dollar of sales. • Combined taxes for ExxonMobil last year were $104.5 billion. That’s ~ 21.5 cents in taxes per dollar of sales. ExxonMobil takes the risks and the government makes 2.5 times more than the company does.