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Gas prices / where the cheapest gas is
#50
(02-03-2023, 09:03 PM)HereOnThePrimalEdge Wrote: Math wasn't your strong point 

Being good a manipulating math will only fool some of the people some of the time.

Any taxpayer on Punaweb would be happy to get away with paying the Exxon tax percentage for 2021, OR 2022.
We would also be far happier if the gasoline price we paid at the pump in East Hawaii dropped as much as did the price of oil.
Apparently Exxon makes most of their money overseas.

 For 2021 US income and taxes, the numbers I see are: "$9.3 billion in U.S. earnings and $236 million in federal income taxes"  That's where the 2.8 percent comes from.  Is this accurate?  I have no idea, but am fairly confident they're rarely if ever paying anything close to the official US corporate tax rate. 

Perhaps Hawaii could try to levy a special windfall tax on oil companies, seeing how much consumers are paying at the pump. Probably not worth it though, as the corporations would likely sue as Exxon did after the EU .came up with a windfall tax.

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RE: Gas prices / where the cheapest gas is - by Durian Fiend - 02-04-2023, 12:36 AM

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