A study by the Fund for Stockowners Rights has found that the government takes more from American companies than shareholders make.

• Businesses pay $1.58 in taxes for every $1 in net income to the company, FSR found.

• Since companies pay many taxes besides income taxes -- such as payroll taxes, sales taxes, property taxes, use taxes, workers' compensation taxes, unemployment insurance taxes, import duties, gas taxes and others -- the FSR is not even sure its study caught them all.

• Oil companies pay among the highest taxes compared to net income -- with Exxon, for example, paying $3.43 for every $1 in net income.

• Next highest taxed were many utilities -- with Niagara Mohawk Power Corp. paying $3.26 in taxes for every $1 of net income.

In the study of 154 major American companies, Florida Progress Corp. paid the highest relative taxes, with a bill totaling 479 percent of net income.

Source: Grover Norquist (Americans for Tax Reform), "Big Daddy Investing," Investor's Business Daily, June 23, 1999.