Quote:
|
And those who will benefit most from this 'holiday' proposal are the oil companies (artificially lowered prices equals higher use which puts more money in Big Oil's pockets), not the poorer among us. And that, sir, is a most beloved Republican activity, not merely a talking point.
|
Take a look at the taxes these oil companies are paying -- another beloved Republican activity? They actually have rather modest profit margins (far less than Microsoft for example) and have the highest tax rates. Exxon just paid $9.3 billion in worldwide income taxes in the first quarter of 2008, representing a 49% tax rate on its gross income of $20.2 billion.
Exxon: Profit Pirate or Tax Victim?