Exxon Mobil Per Second: $1,400 in Profits, But It Pays $4,000 in Taxes, $15,000 in Operating Costs
Obama thinks government is not getting a "reasonable share" of oil companies' profits, which in 2007 were, as a percentage of revenue (8.3%), below those of U.S. manufacturing generally (8.9 %). Exxon Mobil pays almost as much in corporate taxes to various governments as the bottom 50% of American earners pay in income taxes. Exxon Mobil does make $1,400 a second in profits -- hear the sharp intakes of breath from liberals with pursed lips -- but pays $4,000 a second in taxes and $15,000 a second in operating costs.
~George Will in today's Washington Post, partly based on this CD post (his office called to verify the data in that post)