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Some of the confusion about corporate profits stems from incomplete media coverage. It keeps people from knowing where things really come from. Most of us know that Exxon Mobil announced a record $45 billon in profits for 2008. What many don’t know is this was computed after paying $36 billion in income taxes. <br> <br> There is more good news. They also paid about $35 billion in sales based taxes and about $45 billion in other taxes. The total contribution in taxes was about $116 billion. This is an incredible contribution to the public works and one that should be celebrated by all.<br> <br> This isn’t hard information to find. It all comes from numbers in the same press release with the profit figures. You just have to look at it. www.santaclaussyndrome.com
By R. Lamar Smith, CPA
Search Boortz.com
