quickthinker

2 Comments

Labor Pains: Deeper Contractions [view article]
Gabe: If it quacks like a recession..It IS a recession. You sound like a very well read person, you should know that all govt. statistics especially in an electionyear are suspect.

I hope-wish you are right. However the headwinds seem to be too strong. If China stopd reinvesting their dollars in the US, if housing prices do not recover, If financial companies do not find a way to recover their losses, we are all sunk.

To all readers: Be defensive, very defensive. Sep 05 12:55 PM
Exxon's 2007 Tax Bill: $30 Billion [view article]
The article is obviously biased in favor of XOM. The book or accrued taxes are just an accounting term. The more relevant amount is actual cash taxes paid out. Most tax liability is deferred for ever. Yes, the tax deferred from sometime in the past is due today, but it is more than offset by a much larger deferral from the current periods. The result is as long as the company continues to purchase capital assets it will not pay the deferred taxes. Just pull out XOM's balance sheet for the last 5 years and check out the cash taxes paid. I bet it will be less than $6 billion per year. I also bet that it is lower than the average tax rate paid by the lower 50% of the population! Feb 07 11:41 AM

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