Over the last three years, Exxon Mobil has paid an average of $27 billion annually in taxes. That's $27,000,000,000 per year, a number so large it's hard to comprehend. Here's one way to put Exxon's taxes into perspective.
According to IRS data for 2004, the most recent year available:
Total number of tax returns: 130 million Number of Tax Returns for the Bottom 50%: 65 million Adjusted Gross Income for the Bottom 50%: $922 billion Total Income Tax Paid by the Bottom 50%: $27.4 billion
Conclusion: In other words, just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers, which is 65,000,000 people! Further, the tax rate for the bottom 50% is only 3% of adjusted gross income ($27.4 billion / $922 billion), and the tax rate for Exxon was 41% in 2006 ($67.4 billion in taxable income, $27.9 billion in taxes).
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Today's Featured Article - Tuning Up Your Tractor: The Battery - by Curtis Von Fange. Buried somewhere beneath the sheetmetal, under the gas tank, or stuffed in front of the radiator is the battery. This elusive and neglected component of the tractor is the hardest to get to when it is dead and in need of a jump. But usually, the storage battery is a storehouse of electrical energy waiting to be released a the flick of a switch. A few maintenance tips and periodic cleaning will keep it charged for the duration of its life span. The battery is made up of a number of lead bas
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