Saturday, May 24, 2008
BIG OIL makes WINDFALL PROFITS of a half TRILLION DOLLARS
Nice headlines aren't they?
What is the story under the headline?
On their sales last year the oil companies made $528 Billion Dollars. A lot of money. On that $528 Billion, they paid almost $300 Billion in taxes. The leftover $228 Billion was distributed as profit or share gain and will be taxed to the shareholders at figure of about 30 percent leaving a net real profit of about $150 BILLION, still not bad. Of course, it is only about 3 percent when the government gets their share.
Oh, the government. What does the government get?
Well, glad you asked. The taxes on the oil amounted to 1.3 TRILLION DOLLARS, plus the about 370 BILLION in taxes for a net take of 1.6 TRILLION DOLLARS.
Who is screwing you? Remember, Nancy Pelosi and Patty Murray tell us it is BIG OIL. After all, the government is here to help you. Actually, they are here to help themselves to your money. And, remember this also, they're not happy until you're not happy.
Boy, I sure am glad the Democrats got in to Congress and did something about the $2.30 per gallon price of oil when the Republicans were running things into the ground.
Oh, yes. And, could Barak Omama please call the EU and ask them what temperature my thermostat should be set at?