Originally Posted by TimFreeh

1) From your second sentence I infer you think 15B in taxes on 39B of revenue is "fair" or at least appropriate given current tax law - hence your statement you would have no issues with Exxon/Mobil if they paid their "fair" share. Notice that this would be an effective rate of approximately 39% if we stick with your assumptions.

2) In your third sentence you then postulate that the application of certain unnamed/unspecified tax credits would cut a "huge chunk" out of "it". I assume "it" is the tax bill Exxon/Mobile would have to pay. As we all know this must be true because its common knowledge that rich corporations and people don't pay their fair share of the tax burden.

With me so far?

If the assumption you made in sentence #2 was correct we should see a reduction in the effective tax rate paid by Exxon/Mobil via the utilization of unfair tax credits. Maybe the tax rate would drop from 39% to say 35% or 20% of gross revenues.

According to the attached link Exxon Mobil's effective tax rate for 2005 was 39.5%