Re:Startup Economics 101, or, How Long Until We’re Dead?
by jacoblyles on Monday March 21, 2011 @09:38PM
(#2352597)
"The dirty hippies tend to get angry about stuff like the fact that Exxon apparently pays little to no corporate taxes (citation needed), and whatever else they have going on they certainly haven't posted a loss recently."
Exxon Mobile paid $21 billion in corporate taxes on operating income of $53 billion in the fiscal year ended December 31, 2010 for an effective corporate tax rate of 40%. Do leftists not know where to look this stuff up? They are allowed to take finance and accounting classes, no?
Re:Startup Economics 101, or, How Long Until We’re Dead?
by anamax on Monday March 21, 2011 @10:31PM
(#2352749)
If the dirty hippies had read the paper, they'd see that machinery depreciation is a huge part of that difference between the effective and statutory rates.
The really clever hippies would notice that different industries have different machinery needs.
The especially brilliant ones would understand that the value of an oil lease goes down as the amount of extractable oil goes down, such as happens when said oil is extracted. They'd see that said decrease is just like the expenses of other industries.
http://cbo.gov/ftpdocs/69xx/doc6902/11-28-CorporateTax.pdf
Puts the effective corporate tax rate a cool 10-15 points under the statutory one, depending on sector, and has some graphs illustrating that our statutory rate is one of the highest while our effective rate is one of the lowest.
So it's not just the dirty hippies saying this.
The dirty hippies tend to get angry about stuff like the fact that Exxon apparently pays little to no corporate taxes (citation needed), and whatever else they have going on they certainly haven't posted a loss recently.