Exxon's annual profit was $40.6 billion (by the way, this is net income, that is, after-tax income). This exceeded the record $39.5 billion Exxon earned in 2006. Exxon's income, before taxes, in 2006 was 67 billion and they paid almost 28 billion in taxes.
At least someone is making money in this economy. Taxpayers will be happy to know that we gave the oil industry 14.5 billion in subsidies in 2006.
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2 comments:
Wow, that's quite a chunk of cash! I was even more amazed when I read that they paid 27 billion in taxes at at 41% tax rate.
No one can ever say they don't pay their fare share. I am not a fan of their lobbying against things like cafe standards, but they seem to be pulling their weight in other ways.
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