Harvard professor Senatorial candidate Elizabeth Warren continually inveighs against the evil corporations, particularly the oil companies getting those tax breaks.
Here are a few facts about Exxon Mobil for 2011. They paid $31 billion in income taxes at a 42.4% rate. Additionally, they paid $74 billion in other taxes and made $31 billion in investments. They employed 82 thousand people and paid $9 billion in dividends. Taxes to governmental entities were eleven times greater than what they paid shareholders.
The US corporate tax rate of 40% is the highest in the world. China taxes at 25%, the UK at 26%. The European average is 20.6%; the global average is 24.5%.
And Exxon produces a product that powers our Priuses and our factories. in contrast, Solyndra and Evergreen (two alternative energy darlings of the Left) received government subsidies of over $700 million and , I believe, $60+ million and are "gone with the wind."
I would expect Elizabeth Warren, as a Harvard professor, to be above demagoguery and adhere somewhat more to the facts. We should be encouraging good corporations, not demonizing them with untruths.
Pete Laird Sr.
Member Dover Republican Town Committee
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