Re: Consider buying American!

still just me wrote:
> On Thu, 14 Feb 2008 22:45:56 -0800, "Robert A. Cunningham"
> <infojunkie@[EMAIL PROTECTED]
> wrote:
> 
>>> Whereas the domestic manufacturers don't even have profits.
>> Not only do they not have profits, they get tax credits for the money
they 
>> lose.
>> But I guess it's ok, 'cause it stays in the U.S. ;) 
> 
> You misunderstand the tax system. You don't get a "tax credit" for a
> loss. You pay taxes on PROFITS. If you don't have any profits, you
> don't pay taxes. 
> 
> You want to talk about tax credits, look at the oil companies. There
> was a bill this year that would have ended preferential tax rules for
> oil companies. Note that Exxon had record $40b profits again this year
> and other oil companies did similarly well.

WoW! $40 billion already this year! And we're only 1 and 1/2 months into 
the year. That's better than I hoped for.

Most of the $40 billion in profit last year was from outside the country.

> Bush vetoed that idea
> because he claimed that eliminating their special treatment would be a
> "tax increase" (Apparently not giving his incredibly profitable
> friends special tax treatment is not fair).

Can you tell us what this special tax treatment is?

> I'm not aware of any special rules for the auto industry. 

Of the $40 Billion that ExxonMobil made last year, 75% was from outside 
the US.

Jeff