Outraged over Exxon Mobil’s record profits?

Hee.

This past quarter, ExxonMobil made what some deem a fat profit [actually not so fat – that’s about 8.5 cents per dollar of sales], but the company also had a fat tax bill. On a worldwide basis, ExxonMobil paid over $10 billion in corporate income taxes in the second quarter alone, $9.5 billion in sales taxes, and over $12 billion in other taxes.
In other words, ExxonMobil paid (or at least collected) $32.361 billion in taxes in the second quarter. Or to look at it another way – Exxon paid (or collected) almost $3 in taxes ($32.361 billion) for every $1 in profits ($11.68 billion).
That means that for every dollar in Exxon sales – not profits, SALES — 23.4 cents is for taxes. And that is averaged over all types of sales – not just gasoline.
For the financially illiterate who wish to verify these figures, here’s a URL for the company’s quarterly earnings statement (if this board allows URL’s — otherwise Google it):
https://tinyurl.com/5rnmyc