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Exxon Mobil and Obscene Profits

August 7th, 2008 at 08:21 pm

The profits Exxon Mobil made fro Q2 are obscene. No firms should make that much. Right? But should we stick to one sector? Are there other companies making obscene profits?

How would be compare? I say we use the Net Profit Margin come up with a number and then take 100% of profits over that number. So Net Profit Margin for Exxon is profit divided by revenues. So thatís, $11.6 billion obscene dollars divided by $138 billion in revenue or 8.4%. So if a company makes 8.4 cents of profit on every dollar of revenues they sell, it's considered obscene.

Ok Google has a net profit margin of 25%. Talk about obscene. That' s 297% more obscene then Exxon.

In fact, the average net profit margin of the S&P is over 9%. Healthcare industry is at 12.28%, tech at 9.31%, Internet firms at 20.8%, and Personal products at 11%.

Over half the companies in the S&P 500 are gouging us. From banks to computers, to household companies. I say stop the gouging and cap the net profit margin at 5%. Anything above should be taxed at 100%.

It's time that companies stop gouging the American public. These companies would be forced to either increase their costs (like hiring people) or reduce their prices. Every company would be on a level playing field.

Source: http://biz.yahoo.com/p/s_conameu.html

I almost forgot those evil railroads at 13.5%.

6 Responses to “Exxon Mobil and Obscene Profits”

  1. Broken Arrow Says:

    Hahaha! I laughed obscenely all the way through your obscenely informative entry. Thank you sir. Never thought of it that way before.

  2. merch Says:

    I was going to add that anyone saving over 15% should be taxed because of the obscene money they make ...lol

  3. Broken Arrow Says:

    I'm not laughing anymore.

  4. merch Says:

    well If you weren't obscenely wealthy, you wouldn't have an issue, would you?

    I say tax the rich like BA!!!!! THEY HAVE TOO MUCH MONEY!!!!

    I mean look at me, my paycheck goes towards bills. It's not fair that these wealthy people don't pay there fair share!!!!

    *Getting off my soapbox.

    Smile

  5. HouseHopeful Says:

    So we should tax the rich and spead the money around? Sounds a little too Socialist for me.

  6. cptacek Says:

    Uh, HouseHopeful, he was trying to be funny. Some members of Congress (and presidential candidate?) are proposing a "windfall profit tax" on oil companies. Merch was just pointing out that there are a lot of other companies that make more money than the oil companies.

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