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  • Senate Republicans block amendments to Keystone bill [View news story]
    According to the Congressional Budget Office, tax benefits for renewable energy and energy efficiency make up three-quarters of more than $16 billion in energy-related tax subsidies the U.S. for 2013.
    Big Oil’s taxpayer-funded hand-outs are actually taxes they do not pay. The three largest oil companies paid the most in taxes in absolute terms of all major corporations, according to data on S&P 500 companies compiled by The New York Times. You know the NYT, that liberal mouth piece for Obama. ExxonMobil paid $146 billion in taxes; Chevron paid $85 billion; and ConocoPhillips paid $58 billion over the last five years.
    In terms of their effective tax rates, Exxon had an effective tax rate of 37 percent, Chevron’s effective tax rate was 39 percent, and ConocoPhillips’s was a 74 percent. The U.S. corporate tax rate is 35 percent.
    Last year Exxon and Chevron ranked in the top two companies that paid the most in taxes. ConocoPhillips ranked sixth in terms of taxes paid, reports USA Today.
    At least they pay taxes, unlike the Solyndra default on a $535 million loan guaranteed by the Department of Energy. A giveaway of 500 million to political and fundraising buddies of Obama.
    Jan 22, 2015. 04:15 PM | 2 Likes Like |Link to Comment
  • Walgreen: Potential Tax Inversion Move Creates Public Backlash [View article]
    Three of the statements in the article are interesting.
    1. Based upon statutory tax rates of 35% in the US which are just 20% in Switzerland.
    2. These kind of moves are very damaging to national budgets and consumers.
    3. The inversion move could cost the US people some $4 billion in missed tax revenues.
    So when the author of this article files their personal income tax they seek to pay the maximum possible, or like any average American do they pay the least possible taxes they legally are allowed? I think the latter. Why do people think it is the governments money. If America did not have one of the highest corporate tax rates in the world, maybe corporations would not think they had a reason to look outside the USA.
    Jun 13, 2014. 07:57 PM | 3 Likes Like |Link to Comment
  • Walgreen inversion: These Alliance Boots are made for walkin' [View news story]
    With US corporate taxes higher than what they are in Russia and even higher that in Socialist Sweden, why would a company choose to be headquartered in America. They are in business to make money. Since I own Walgreen I want them to make all and keep all they legally can.
    May 26, 2014. 09:04 PM | Likes Like |Link to Comment