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Thanks Dan.

Manly

Boortz is too far to the right for me but if you read MY blog you would know that I am a pro-business kind of person.

There has been much talk of “taking” some of Exxon Mobil’s profits by the far left.

Some interesting points:

EXXON MOBILE PROFITS

I covered this on the Information Overload portion of the Boortz show yesterday. Web Guy and Cristina tell me that there have been hundreds of email requests to put the information here in the Nuze.

Happy to oblige.

The issue here is the profit figures for Exxon Mobile. This oil company has been a favorite target for leftist, anti-capitalist politicians. I’m sure you remember Hillary screeching about wanting “to take those profits” so that she could spend them.

Recap: In 2006 Exxon reported profits of $39.5 billion. Politicians went nuts. In 2007 those profits went to $40.6 billion. Politicians went nutsier.

The reason politicians can successfully demagogue these profits is that the vast majority .. and we’re talking 95% and above .. of Americans couldn’t tell you the difference between a profit and a profit margin if their flat screen TVs depended on it. Simply stated, profit is the total amount you make. Profit margin is how much you make on each dollar of sales. You would think that this would be taught in our government schools … but if you did think that you would be wrong.

So … what has been happening to Exxon’s profit margin during these record profit years? Staying about the same, that’s what; around 10%. The reason their profits have been increasing is because the price of crude oil has been going up … bring gas prices up with them … thus increasing the dollar amount of sales. Profit � up. Profit margins � ’bout the same.

By the way … financial institutions and cosmetics companies have been enjoying higher margins … along with many other sectors of our economy.

Now .. the numbers that I presented yesterday. Pretty eye-opening. The research was posted on the Seeking Alpha website.

Over the past three years Exxon Mobile has paid an average of $27 billion a year in taxes to the Imperial Federal Government. This has amounted to about 41% of Exxon’s taxable income.

The last year for which complete numbers on who pays what taxes are available was 2004. In 2004 there were 130 million individual tax returns filed. If you take the bottom 50% of those tax returns � 65 million of them � and add up the total amount of taxes those households paid you come up with $27.4 billion. This means that one corporation, Exxon Mobile, pays as much in taxes to the federal government as do the bottom half of individual taxpayers. How’s that for paying your fair share.

There’s more. The Adjusted gross income for the bottom 50% of taxpayers comes out to about $922 billion. This means that these taxpayers are paying an effective tax rate of about 3% of their adjusted gross income. Exxon? Adjusted gross income of around $67.4 billion in 2006 … for an effective tax rate of 41%.

There’s the facts, my friends. If you’re able to absorb them you’ll see just how you’re being manipulated by the likes of Hillary Clinton and other politicians. If the American voters were truly educated they couldn’t get away with it for a minute.

Link HERE.

Manly

This just goes to show you that looking at one year (or two, or 10) of warming/cooling doesn’t amount to fundamental climate change.

As I have stated before, much of the data suggests that at the very least the jury is still out on the cause.

The article linked below doesn’t prove or disprove that there is warming but I found it amusing.

http://newsmax.com/newsfront/global_warming_or_cooling/2008/02/19/73798.html

Manly

I found this interesting.

The quote below is from a book titled “The Bad Boy of Baltimore” which is a biography of H.L. Mencken by Marion Rodgers.
Page 409 reads:

By the mid-1930’s, thanks to the New Deal, all that self-reliance had changed, prompting Mencken to declare: ‘There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them.’ Despite the billions spent on an individual, ‘he can be lifted transiently but always slips back again.’ Thus, the New Deal had been ‘the most stupendous digenetic enterprise ever undertaken by man…. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time. The effects of that doctrine are bound to be disastrous soon or late.’

When someone asked, “And what, Mr. Mencken, would you do about the unemployed?” He looked up with a bland expression. “We could start by taking away their vote,” he said, deadpan. Mencken was not surprised when the majority disagreed. “There can be nothing even remotely approaching a rational solution of the fundamental national problems until we face them in a realistic spirit,” he later reflected, and that was impossible so long as educated Americans remained responsive “to the Roosevelt buncombe.”

Wherein “buncombe” means nonsense.

How completely relevant to the election happening this year, in which every Democrat has nothing to say about self-reliance or freedom but only talks of their new entitlement schemes.

History is definitely repeating itself here.

Manly

I concur.

Manly