Last quarter Exxon made 10 billion, but the government made 30 billion in taxes off them- who is gouging who?

Question

how much more revenue does the government get when gas prices are hire?

Answer 1

You are the responsible party. I am responsible also. If you stopped buying the fuel, they would stop raking in the profits. If you own a company, and you can sell your product, at a profit, as quickly as you can get it and in great quantity, why would you not sell it? Their stockholders are very happy.  

Answer 2

Dead Man Hand is ABSOLUTELY RIGHT on in  his answer.  Our Government taxes the h*** out of any US Company.  Why do you think so many have left our shores.  

Answer 3

They both suck equally as much

Answer 4

You are right.  Actually, Exxon-Mobil paid 62 billion dollars in taxes during the first two quarters of 2008 but shhhh!  This will educated people.............

Answer 5

The Government taxes the profits of the oil industry. The Governemnt taxes each barrell of oil out of the ground. The Government taxes the gasoline when it is delivered to a local distributor. The Government taxes the gasoline when it is purchased by a gas station. The Government then taxes the gasoline when you pump it into your vehicle. Remove all of these taxes and Gasoline is less then $1.00 per gallon  

Answer 6

And Chevron only made $5B while a huge steel company made nearly $6B. Why aren't we taking their windfall profits? Why only the oil industry? We should throw on some SS uniforms and start busting into everyone's businesses and take all of their money! Heck, I'm going to lower the prices I charge at my business so I won't be TOO successful or the gestapo will start confiscating my profits too!

Answer 7

And according to Osama bin Obama, that isn't enough.  He wants more.

Answer 8

Hey, don't forget about the credit card companies who collect a fee based on the purchase price.  As the fuel costs soar, they are raking in those higher fees as well!

I've heard of some small, independently owned gas stations that have actually gone out of business because of the increased credit card fees associated with the higher fuel costs and a lot of others have started charging the consumers more money per gallon for customers who charge the purchase in order to cover those fees.

Answer 9

In California we pay about $0.60 per gallon in Federal, State excise tax and sales tax.

The average gasoline usage in California is about 16 billion gallons per year leaving California with $6,700,000,000 and the Feds get $2,880,000,000.

Is it any wonder that Congress doesn't want to do anything about the high cost of gas ? It would be like killing a cash cow.

Answer 10

Let's see.  Exxon makes $10.66B in three months, breaking their own record for the highest after-tax quarterly profit of any company in the history of American business.  They get $1.2B in government subsidies for various things.  In the meantime, we're paying the highest fuel prices ever, both in absolute and inflation-adjusted dollars.

I'd say it is we who are getting gouged.

And the gas taxes do nothing for you only if you never, ever use a public road.

Answer 11

It seems not many people care that the Federal Government make 18 cents per gallon of gas sold for doing...absolutely nothing.  Not to mention the 42 cents the State of Maryland gets for doing...absolutely nothing.