I’m confused. Tax subsidy implies that they ARE paying taxes, but were able to subtract 12.9 Billion from that.
According to this article, “ ExxonMobil’s cashflow statement shows $4.2 billion in cash income taxes paid. The company says that in the decade to 2015 it made $82 billion in net income and paid out $110 billion in U.S. taxes.”
If President Donald Trump and the GOP leadership can ever get it together to attack tax reform, shareholders of America…www.forbes.com
I’m sure there’s some playing around with the books there, as is typical for big companies, but it does not seem accurate to claim that they pay no taxes, and certainly not that they are receiving $12.9B instead of paying anything.
I think it’s clear that, by your weird metric of comparing Exxon to individual US citizens, they paid more than every single one, not less.