Home Energy and Environment ExxonMobil’s Favorite Day of the Year: April 15

ExxonMobil’s Favorite Day of the Year: April 15

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Why? Because ExxonMobil paid $0 in federal income taxes in 2009:

The most hilarious part is ExxonMobil still finds a way to bitch about its lot in life. The corporation’s website includes an issues page on “industry taxes,” which threatens that energy innovation is already on the ropes because of excessive taxes, and it will be forever consigned to the dustbin by any new taxes on windfall profits (or, we’d assume, plans like President Obama’s to close the offshore earnings loopholes that saved ExxonMobil from the IRS this year). “While our worldwide profits have grown, our worldwide income taxes have grown even more. From 2004 to 2008 our earnings grew by 79 percent, but our income taxes grew by 130 percent,” ExxonMobil’s flacks wrote, presumably while playing the world’s smallest-and most expensive-violin.

But I’m sure this should give us no reason to doubt Gov. Bob McDonnell’s promises about how much state revenue will be delivered by handing over our coastlines to Big Oil for drilling … um, right?

  • Teddy Goodson

    is a basic tenet of the free market theorists and it is the libertarian ideal because, quite simply all taxes are regarded as illegitimate, a confiscation of one’s personal, hard-earned wealth, especially when taxes are collected by so-called democratic governments.  

    The idea here is that once the common herd of people, the feckless, lazy, unintelligent common herd, find out they can steal from the hard-working, intelligent elite through wealth re-distribution (i.e., taxes) then all bets are off, and the government will take everything the hard-working etc. elite have, and give it to the undeserving, lazy poor.

    Therefore, it behooves anyone with any kind of personal pelf to do exactly as the major corporations do: set up bank accounts and hideaways outside the high-tax countries, get two passports, and disappear from view with their money when governments try to tax them. It’s the right thing to do, simply everyone who is anybody is doing it.

    PS: Greedy governments have been fighting back, bringing pressure to bear on tax havens and even Switzerland with its formerly secret bank accounts. This enrages Ron Paul, Bab Bauman and other libertarians.