Is Exxon really evil?
After seeing the last two debates for President and Vice President and watching the media coverage, I have become enraged about what has become the new Evil of America, Exxon Mobil. From the Obama campaign, the word is consistently that McCain supports corporate tax cuts. They don’t mention any of the companies except Exxon when this topic is discussed by Obama or Biden. Their claim is that Exxon Mobil will not have to pay an additional $4 billion in taxes. I did not realize that we claimed war on Exxon!
Although gasoline is a hot topic in our economy these days, Exxon is not the problem. The problem is that America has become so hooked on gasoline that we cannot live without it. Exxon serves America by producing oil that we can use to “feed our habit”. They are not terrorists as much as the Obama campaign would like to make us think. Is Walmart a terrorist company — they are second in line in profits to Exxon Mobil?
Let’s look a bit further. Exxon is an American company with a global presence. They employ over 82,000 people worldwide. They happen to be the highest net profit company in the US, with Walmart right behind. Exxon Mobil paid $32 billion in income taxes worldwide. That is over 40% taxation. And that does not include the taxes that are paid by the employees of Exxon Mobil. Let’s cheer them on, not condemn them!
We all know that election time is a lot of propaganda. At my last look, an important part of our American democracy is the ability to create your own business and make it as profitable as you can. This is the American dream and the business owners I work with share this same dream, including me.
I urge each of you to take a realistic look at the tax plans of each candidate and really see what the bottom line effects are before you make your decision. Be informed — and that does not mean just listen to what the media says!