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CEO's pay jumps 29% last year as profit soars

Discussion in 'Political Discussion' started by Zuma, Apr 20, 2008.

  1. Zuma

    Zuma Rookie

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    http://www.thestar.com/Business/article/413438

    CEO's pay jumps 29% last year as profit soars

    Exxon Mobil Corp., which recorded the biggest profit for a U.S. company, raised CEO Rex Tillerson's compensation by 29 per cent last year to $16.7 million (U.S.).

    Tillerson's salary rose 17 per cent to $1.75 million and his bonus jumped 20 per cent to $3.36 million, Irving, Texas-based Exxon said in a filing yesterday with the U.S. Securities and Exchange Commission. Exxon's largest U.S. rival, Chevron Corp., paid its CEO, David O'Reilly, $15.74 million last year.
    The 56-year-old Tillerson's restricted stock awards were $5.68 million, and the value of his pension and other deferred compensation rose by $5.51 million. Other compensation, including personal security and use of the company's aircraft, totalled $429,792.
    Exxon Mobil's 2007 net income jumped to $40.6 billion, surpassing the record $39.5 billion the company earned a year earlier.
    Its stock recorded double-digit growth.

    ===

    Why aren't Americans more upset about another aspect of the current Bush administration? Bush is in charge, the buck should be stopping with him, but it isn't. It is going right through Bush and into the pockets and bank accounts of the CEO's of the American Oil Companies.

    And Americans still continue to bend over.

    Fact is, albeit there are sever factors involved in the current oil and gasoline crisis, the fact remains that if we had not attacked Iraq, and placed our soldiers on Islamic soil, we, and the world would not be feeling the pain of the increased prices, and increasing daily, we are paying at the pump.

    There is only one way that the Muslim/Arab/Islamic world can fight back aagainst what they call "The Mighty Satan", and that is with the price of a barrel of oil.

    Osama Bin Laden never had any intention of defeating or destroying the United States militarily, but he knew that he could defeat us internally, financially, and economically, and he has done it. Thank Mister Bush, once again.
  2. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    So what M Ramirez made $20M, should the bush administration decide how much Manny should get paid? IS a baseball player worth more than the head of a large corp? Well if the market decides he is.

    The pay is the business of the shareholders not the gov.
  3. weswelker#83

    weswelker#83 Rookie

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    I think oil companies need an extra tax break .
  4. Ellis_Hobbs27

    Ellis_Hobbs27 Banned

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    With a democratic congress and a democratic president (if that is what happens in November) you can expect the "windfall tax proposal" to sail through congress this time......

    Capitalism is fine but the gouging of the average American while these guys reap these obscene pay days is something that needs to be looked at. And the windfall tax is one way to begin.

    Republican talking points continually try to make Americans think that the core of the problem is "foreign" oil, when in fact, one of the major factors in the obscene prices of gasoline and heating oil can be laid directly at the feet of the American Oil Cartel.

    And, of course aided by an administration that is loaded with former and even current oil people that are making fortunes for themselves, their families, and their friends at the expense of the middle class American.

    Carl Marx had the right idea but can not work in the society of today.
    Last edited: Apr 20, 2008
  5. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Pie Face Katie Couric
    15 Million A Year

    Whore Monger Billy Blue Dress Made Millions
    Biting His Lip For The
    Batty College Crowd

    Al Boob Bellowing Gore
    Makes Millions Telling Poor People To Ride Bikes

    I make Sh!t

    :bricks:
  6. Ellis_Hobbs27

    Ellis_Hobbs27 Banned

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    Spend it wisely. :D
  7. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    I save it--:singing:
  8. Ellis_Hobbs27

    Ellis_Hobbs27 Banned

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    Must really smell bad at your home. :eek:
  9. Stokes

    Stokes Rookie

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    So, anybody have a clue what Exxon Mobil actually paid in taxes last year? The figure I found was $30,000,000,000. Yep, that would be $30 BILLION in taxes. That part never seems to find its way into articles about how badly the big corporations are screwing over the US.

    http://seekingalpha.com/article/63131-exxon-s-2007-tax-bill-30-billion
    Last edited: Apr 21, 2008
  10. Ellis_Hobbs27

    Ellis_Hobbs27 Banned

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    Are you sure that they actually paid it like you know write out a check or make an electronic deposit to the US Government?

    Or did they find a lot of deductions and loopholes to knock that debt down to nothing, or near nothing?

    I dont know the answer. Do you?
  11. Real World

    Real World Moderator Staff Member

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    Plus, look at their profit margin, as opposed to profits. I don't think their margin was much different than most other industries. Don't get me wrong now, it burns me too when I see the figures. However, they have to be taken into context. The context doesn't sooth my anger when I dump $60 into my tank, at $3.45 a gallon, but it does put a little more understanding into the figures.
  12. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Yes, NEM, we are sure.

    Here's some good reading for you :

    http://www.american.com/archive/200...zine-contents/guess-who-really-pays-the-taxes

    "The latest data show that a big portion of the federal income tax burden is shoul*dered by a small group of the very richest Americans. The wealthiest 1 percent of the population earn 19 per*cent of the income but pay 37 percent of the income tax. The top 10 percent pay 68 percent of the tab. Meanwhile, the bottom 50 percent—those below the median income level—now earn 13 percent of the income but pay just 3 percent of the taxes."
  13. Ellis_Hobbs27

    Ellis_Hobbs27 Banned

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    Do you understand what the term "tax burden" means?

    Read below with the link following.

    With a donation to charity of $165 million last year, Texas billionaire T. Boone Pickens made the list of the country's top five philanthropists.
    Golf

    T. Boone Pickens, a billionaire and philanthropist, legally claimed a one-time tax exemption designed to encourage Hurricane Katrina relief by actually donating to the Oklahoma State University men's golf team.


    And he gets to write off more of that than ever because of a one-time tax break that's part of the Hurricane Katrina relief legislation.

    "The special Katrina legislation allows you to deduct up to 100 percent of your adjusted gross income," said Marcus Owens, an attorney and former director of the Exempt Organizations Division of the Internal Revenue Service.

    That's twice what had been allowed before, which means a taxpayer could deduct enough to effectively have a gross income of zero, which, as Owens noted, "would wipe out your tax."


    http://abcnews.go.com/WNT/Investigation/story?id=1830695&page=1

    And that is just one example. It is extremely common practice.

    BTW if you really want to talk to NEM I will be glad to give you his phone number - with his permission of course. You can send me a PM. You really need to consult a doctor regarding your paranoia. BTW, someone told me to tell that to you.
    Last edited: Apr 21, 2008
  14. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Look, NEM, I don't know about specific cases and what one person may be doing legally or illegally. But the macro group of "rich" pays almost all the taxes. Let's say your example is correct. Just because one rich person doesn't pay taxes doesn't mean all rich people don't pay taxes.
  15. Ellis_Hobbs27

    Ellis_Hobbs27 Banned

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    So, PM me and I will put you in touch with him so you can get rid of the bad case of paranoia that your are carrying.

    I happen to be my own person although I have literally identical views and opinions to another one but not entirely.

    Anyway sure this is one case but it is the way it is done and this is but one example as to how the majority of those you say pay the highest percentage of taxes actually get out of it and their payable burden is whittled down to zero or near zero.

    If you don't believe that then you are living in dreamland.
  16. otis p. driftwood

    otis p. driftwood Rookie

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    That would be the tax bill. They pay almost a 50% tax rate. Their tax bill is higher than their domestic profit. You can look it up, NEM.
  17. Ellis_Hobbs27

    Ellis_Hobbs27 Banned

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    You too are suffering from a very bad case of paranoia.

    In either case no one argues that they don't have a very high tax bill (burden) but after the loopholes and deductions and in many cases the lies they pay very little, and as shown in the example possibly nothing at all.

    I read somewhere some time ago that the biggest offenders of non payment of taxes and the cheating on tax returns are the highest earners in the country.

    If I can find it I will get you the link.
  18. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    LMAO NEM. Not only are you in dreamland/denial about this issue with no facts to back you up, you are even denying that you are NEM.

    Pathetic.
  19. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    It's irrelevant NEM. Just because SOME people cheat doesn't mean they all do. I'm sure some rich people cheat on their taxes. Just like some middle class people do. Just like some poor people do. Finding examples like that does NOT prove your point. It only shows that you tried to find evidence and returned empty handed.
  20. Ellis_Hobbs27

    Ellis_Hobbs27 Banned

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    Whatever. Like I was told it is very difficult to communicate with someone who has a closed mind. Now I see what he meant.

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