You hardy ever hear how much a corporation pays in taxes, just how much profit they earned and how greedy they are.
So the gubment is raking in billions from oil companies AND billions from consumers at the gas pump through gas taxes. Maybe if they lowered the corporate taxes, our gas prices would fall. Or how about we kill the gas tax!?
Money quote:
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!
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