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eEconomics - ep. 2 - Gas Taxes

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Published on Nov 20, 2012

In this second episode, David Angelo compares the taxes on gasoline with the profit made by oil companies. Another instant classic!

Follow the show on Twitter! https://twitter.com/eEconomicsShow

CORRECTION:
I have a mistake/oversight here at 2:47. The taxes Exxon pay don't all go to the U.S. government....so, while we can deduct that tax portion from XOM's 0.53 pre-tax profit, it's not accurate to add it all to the "taxes" tally (since only part go to U.S.). That said, the whole video is a very rough estimate, anyway, and none of the conclusions are hard numbers. The point is just to look at profit margin relative to taxes.

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Sources:

Current Gas Excise Taxes Applicable in CA
http://www.boe.ca.gov/sutax/gasswapfa...

Sales Tax Rates for Los Angeles
http://www.boe.ca.gov/cgi-bin/rates.c...

CA Regulation 1598, Motor Vehicle and Aircraft Fuels (how to calculate gas sales tax)
http://www.boe.ca.gov/lawguides/busin...

Exxon Financials
http://www.google.com/finance?q=NYSE:...

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