ExxonMobil, the most profitable corporation in the country, is spending some of its money on a series of television ads telling us to invest in education.
Most of us don't have a lot of money to invest in education. Exxon does. In fact, if Exxon were to merely pay what it owes in taxes, the Department of Education could increase its budget 14 percent.
Corporations are supposed to pay 35% income taxes. Exxon pays about half that. A report by Citizens for Tax Justice found that Exxon should have paid $4.1 billion more than it did between 2008 and 2010. Using the same calculation, we find that Exxon underpaid in 2011 by another $2.1 billion.
As the Exxon ads keep saying: "Let's solve this!"
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Action for a Progressive Future (the organization that runs RootsAction) is a nonprofit, progressive, public policy advocacy group that engages people in the democratic process and helps make sure legislators hear their voices.