Exxon to invest 50 billion in US due to tax cuts
 

https://www.cnbc.com/2018/01/29/exxo...ax-reform.html

https://scontent.fbna1-2.fna.fbcdn.n...e0&oe=5B24A83C

Talk is cheap.

Facts don't matter to Trump cucks like you.

The U.S. Treasury Department slapped a $2 million fine on ExxonMobil for violating Russia-related sanctions in 2014 when Rex Tillerson, who is now the U.S. secretary of state, was the company?s CEO.

Carrier plant Trump pledged to save lays off another 215 workers

"This is the second round of layoffs since Trump visited the plant to tout his deal with United Technologies to keep the factory open. More than 300 jobs were eliminated in July."

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Read what you post

"These layoffs had actually been postponed; Carrier originally said that the jobs would end right before Christmas. And it originally expected to lay off 290 workers, not 215. "

From 2011

Exxon Mobil Dodges the Tax Man Again

"Exxon Pays a Lower Effective Tax Rate than the Average American"

"..despite being Exxon Mobil?s fifth year as the top corporate earner in Fortune 500?s annual listing. The company paid no taxes at all to the U.S. federal government in 2009 on its domestic profits of nearly $2.6 billion."

My company pays ZERO in income taxes. Every single cent gets spent. I literally have receipts for .01. If I have a year end influx of sales I pay bills early and buy whatever I know Ill need. It's a smart way to do business and makes for a great start of the new year..

Oh look! Exxin has announced ever year since 2013 the same thing, the promised number just keeps getting bigger. You just can't make this stuff up! :1orglaugh You are such a sucker! You can't even Google shit to verify before you post it lol

EXXONMOBIL PLANS $20 BILLION INVESTMENT TO GULF COAST REGION | March 2017

""These investments began in 2013 and they're expected to continue until at least 2022"

You're such a sucker!! :1orglaugh:1orglaugh:1orglaugh

Exxon Mobil Fined $21 Million For Violating Clean Air Act 16,386 Times

"A Texas judged ordered Exxon Mobil to pay $19.9 million in fines on Wednesday after finding one of the company?s refining and chemical plants illegally spewed millions of pounds of pollutants into the air."

ExxonMobil Resolves Tax Dispute with Chad to Evade $74B Fine

"The country?s High Court asked ExxonMobil to pay $819 million in overdue royalties. Last year, the company was asked to pay 2% in royalties on crude exports by the government of Chad when ExxonMobil argued that it made a deal with the government in 2009 to set the royalties at 0.2%."

And yet in this thread you defend Trump's decision to charge tolls on trucks creating a stealth tax for consumer goods!

This is the problem with Trump cucks, you are walking contradictions when you try to defend everything indefensible someone does and who changes his point of view daily.

I call bullshit. You are honestly too stupid to run a lemonade stand.

This is exactly what I was thinking... Isn't this something they announce every year or every other year? I'm tired of the Trump administration trying to take credit for shit they didn't do.

I watched a video of a woman who worked for Carrier the other day. She voted for Trump, Trump gave Carrier how much money? - and then they shipped the jobs off to Mexico any how. And people fell for it.

They always fall for it. Trump loves the poorly educated for a reason, especially the ones in the South like Onwebcam, another non industry anonymous nic. :winkwink:

the bill for them tax cuts will come due...somebody is going to have to foot the bill...I wonder who? :1orglaugh:1orglaugh:1orglaugh

It's found money for the government. You know Hillary wasn't going to let them bring it back. It's a win / win for the government since all these companies are paying out huge bonuses, hiring more employees and paying taxes on over a trillion+ dollars. This will stimulate the economy BIGLY.

Where would we be right now if Hillary got elected? Instead of letting these companies bring back over a trillion+ she would be drowning us with over a million useless Syrian refugees who would jump on the dole. Just imagine the healthcare, housing and welfare bills.

Yes but now that taxes are lower who is going to foot the bill? You do realize it's gonna have to be paid right? The rich now pay less tax, I wonder who is gonna make up for it...could it be the middle and lower class?

1.5 trillion....over 10 years...relax

A young friend of mine - all of twenty years old - was on Facebook today complaining about kids cutting school to protest Trump. She said "They are too young to know what they are talking about". I reminded her that she herself was not yet legal drinking age, and already married. Then I thanked her for the tax cut and reminded her that she is going to be the one to pay for it.

Why do we need to stimulate the economy? I thought the economy was booming? Did anyone stop to think about that?

During the recession when Obama passed a stimulus bill the Republicans bitched. But now that a Republican is doing it suddenly it's a great idea?

It's almost like building the wall. We have less illegal immigrants than ever before in the past ten years, less coming over every day, and more being deporting. At the same time, 40% come over legally and just don't go home. Yet we need to spend yet more billions on a wall?

Trump is trying to fix problems that don't exist.

So you would have rather had Hills in there bringing in a million useless Syrian refugees, no repatriation of over a trillion + and zero tax cuts?

It's not really a tax cut as much as it is a redistribution of tax...downwards LOL

Calling it a cut is only half the story...

In the end, the success or failure of these tax cuts will be determined by the net result on the middle class. If 2 years from now the economy is still doing well, there are higher paying jobs being created, and the middle class finds itself with more disposable income, people will feel good about them.

If, however, the economy goes flat, the debt skyrockets, and people aren't seeing better jobs or more money while businesses and the wealthy rake it in, that will be an albatross around Trump's neck that will be very hard for him to remove.

Until Exxon starts spending money and that money benefits the middle class this is all just talk.

I own a couple of businesses and I have to tell you, if someone wanted to come and pay me 24.87x post tax earnings for either of them I would retire a gazillionaire. Yet this is the average, repeat, average, valuation of $US25.12 trillion, repeat, trillion, dollars worth of US stocks in the S&P 500.

Think about that for a minute ok.

All this money coming back, could of returned at any time, it was not the extra 15% tax that was the issue, it was corrupt and pilfered money from other countries, held in tax havens and tax swindles that is now being brought back because Trump admin is not worrying about the source.

Basically your international pirates are bringing the loot home, its a one off boost from Trumps corrupt buddies.

What does Syrian refugees have to do with tax cuts?

Doing business in another country is being a pirate? Aren't you from AU and do business in the US?

Australia’s ‘worst tax dodger’ revealed, report claims


EXXONMOBIL has been branded Australia’s worst tax dodger, with a new report revealing the oil giant has made nearly $25 billion over the past three years without paying a cent of corporate income tax.

Thanks Trump or thanks Australia and other countries?


According to the report by the Tax Justice Network, Exxon uses a complex web of offshore shell companies and complicated high-interest loan structures to artificially reduce its tax payments in Australia.

In effect, the report says, Exxon’s entire Australian operations are owned through the Bahamas, in what appears to be a “Caribbean variation” of the aggressive tax minimisation scheme known as the “Double Irish with a Dutch Sandwich”.

“Exxon is the poster boy for corporate tax dodging,” report author Jason Ward said in a statement. “What this research shows is that ExxonMobil has exploited Australia’s natural resources, made a ton of money and siphoned it all off overseas.

“By using notorious tax havens, high-interest internal loans and related party transactions they’ve sucked the taxpayer dry. ExxonMobil has $54 billion sitting in offshore bank accounts.

“Our research shows that much of that money has been funnelled from Australia through Exxon’s Dutch outfit, and ultimately through their Bahamas subsidiary. But the very idea of Exxon Australia being owned in the Bahamas raises more questions than answers.”

None of this money is coming back because of lower taxes, its coming back because its the first time its allowed to be brought back and there is the very big difference. Trump via deregulation is allowing all their dirty money to come home, which puts the USA up there with every other corrupt regime in the world.

Tis not something to cheer for, but hang your heads in shame for.

What's being done is a very short term boost that leaves the USA with egg on its face.

One criminal patting another criminal on the back.... job well done.



Now lets look Apple..

How Ireland got Apple?s $9bn profit | afr.com

US tech giant Apple has shifted an estimated $8.9 billion in untaxed profits from its Australian operations to a tax haven structure in Ireland in the last decade..

…
The Government here, and others around the world are chasing this money and its currently working its way through the court systems.. which is a very slow process and of course they delay it as much as possible.


What Trump has allowed them to do is empty the accounts, its a corrupt Government, supporting corrupt business, and a one off fucking event, that has DEEP long term implications, because if you can't continue that cash grab next year, it all falls on the ass with the Stockmarket behind it, because this stolen cash, is being factored into the success of the economy.

And its not, its just stolen pirate loot coming home

I didn't defend Trump. It's not his idea as I pointed out..Also as mentioned, most of the first bridges ever built were built by private interests.. I'm actually torn on that matter. I hate tolls. But at the same time I hate shitty roads as well. Every private toll road I've ever been on was always nice.. But then again they were also mostly new... Personally I think the Federal government should continue to manage the interstates they built.. The bridge I mentioned going into Louisville is BS.. Here you are driving down a main stretch of interstate and you're told you have to get off said interstate and go over the river in some other way only to get back on that same interstate just to avoid a toll bridge...

be careful what you ask for, my house to the airport here in Sydney is a 40 minute trip, 7 tolls totalling $17 bucks to get there... And once you arrive, $15 for an hours parking.

enjoy your flight.

BTW we don't have any toll booths that's old skool, your credit card and number plate is in the system and don't forget the speeding cameras all the way for automated speeding tickets if you decide your in a hurry.

You don't have an understanding of the market. No, the market will not fall because you can't continue to brink back trillions of overseas cash. People understand it was a one time thing. People also understand (most Hillary supporters are in denial) that bringing it back would do good things for the economy. And like I predicted, most companies are raising wages, giving out bonuses to all their employees and are hiring 10s of thousands of employees..all because of tax repatriation.

Learn history, tax cuts under both JFK and Reagan led to a boom to the economy. The present lefts idea to help the economy is bring in more people from other countries, guess what, doesnt work.

Exactly. With Hillary we would have zero tax cuts. Zero repatriation. Zero bonuses. Zero raises. But you know what we would have? Lots of useless syrian refugees draining our taxes with welfare, education, health care and on and on.

So these companies hated America so much they kept the money in other counties.. because they had lower tax rates, and now they are bring it back, because the tax is lower in the USA?.

Does it occur to you that any other country can lower their tax rates as well? I mean if that's all it takes no problems! Its just a matter of how much a Government want's to screw over the population of that country and if they will be dumb enough to fall for it.

Here's my prediction, the list of companies bringing cash back will mirror the bail out lists of the future.

The cash coming back was all but frozen crime money as its all pilfered from other countries, deregulation of bringing corrupt funds in is the cause of the cash windfall more than any tax breaks.

I'm not saying its bad for the USA, you can swim in the cash, we will make plenty more from China anyways.. Just be clear its not coming back due to any Tax changes.

You do know that these multinational companies based in the US also pay taxes in other countries? What are you carrying on about pirated loot? The only country they stiffed was the US but in reality why SHOULD they pay taxes in both countries at such a high rate? There should be a lower rate for repatriated cash and I don't blame them for keeping it overseas ..which btw is totally legal....and it's not pirated loot...you're clueless lol.

LOL you do that :1orglaugh :thumbsup

The private toll roads I've been on here in the US generally have higher speed limits and I have yet to see a police officer clocking speed. One in Kansas is the longest I've been on the speed limit on it was 75 and I never saw a cop. The government run toll roads are a different story.. It's a real government scam up north east.. Chicago is one of the worst offenders. They turned the old interstates into bypass tolls and don't do a damn thing to repair them.

Yes you did, that's all you do here every day, defend Trump and blame Obama & the Clintons

Nobody drives the private toll roads here in Orange County. They're overpriced we don't have much traffic anyway it's insane. They are deserted roads

Seriously?

Didn't we have a recession after Reagan left office?

Didn't Bush enact tax cuts? Didn't we have a MASSIVE recession as he left office?

You are answering your own question.. "after" > when a democrat is entering the office the market reacts because they know higher tax rates will be imposed.

There's no doubt the current balloon will pop.. The question is can Trump keep it inflated until he leaves office.. So far, so good. If Trump decides not to run again and/or a Democrat contender appears to take his place, be prepared for a big crash.... Because business interests and investors will be preparing themselves.. If Hillary would have won we would be entering another recession by now if not deep into one. Imagine how it would be right now with that witch dueling with a Republican house and Senate. Absolutely nothing would be happening.

What they forget is that Reagan's tax cuts may have helped in the short term, but they caused the debt to skyrocket so in his second term he oversaw one of the largest tax increases in history to make up for it. It's why George H.W. Bush ran on the platform of "Read my lips, no new taxes." Of course, he raised taxes and it cost him.

In the end, trickle down economics doesn't really trickle.