Hey Glory, that wasn't meant to sound socialist - socialist is like most other oil-producing countries Canada, Iraq, Iran, Algeria, Lybia, Saudia Arabia, Mexico, Venuezela, Nigeria, Russia - where the oil production has been Nationalized. I just want to see Corporate tax rates of 35% be realized as they are on small businesses.
I'm not gonna quibble about the percentage of profits Exxon makes, hell I think its great (as a stockholder) and whether or not we pay $3.50, $3.75 or $4.50 a gallon is of little concern for me. BUT, as a loyal American that dutifully, and without reservation, pays my fair share of income taxes, I find Exxon making $47 BILLIONS in profit AND PAYING ZERO, REPEAT ZERO in taxes to the IRS a little over the top. Again our IRS tax laws need adjustment and I add that in addition to paying ZERO to the IRS they received a future benefit (read that as a credit against future taxes) of $156,000,000. For those of us still in the fact check mode, please consult page 92 of their SEC 10-K filing for 2009. This is why I suggested that perhaps Corporate taxes be based on Revenues rather than Profits; realistically not workable but what a way to be certain we collect SOME corporate taxes (it'd work for GE, Wells Fargo too since they paid NO IRS taxes either).
And in response to your reminder of "By the way, the average tax on a gallon of gas is $0.489/gallon." That's the tax you and I pay (not Exxon) to build and maintain the roads, mass transit etc.
I still say the solutions are easy, there just has to be some negotiation and compromise; not so easy as long as we keep electing the BOZO's that are in the pockets of Lobbyists that should represent US.