Ok, how do you argue with the crazy?
Profit is good. It encourages inovation, it increases product options, it generates taxes, and it increases wages as the companies want to hire the best people and they will pay for it.
True, Profit is good , but good for who? depends on how it is utilized. At present profit is being funneled out of U.S economy and sheltered overseas so corps do not pay appropriate taxes. When profit is used to reinvest back into market place either through expansion growth etc it is good . when profit is used only to reward elite execs with golden parachutes insane bonuses, while employee wages are ever shrinking - not so good.
The problem we have is the Democrats and liberals do not like profit, they think we use too many natural resources and that they should be allowed to tell people what htye should buy or do with their money.
Not true , the problem
dems MOST AMERICANS want a level playing field with all entities pulling their own weight. Not the skewed tax code we have now. Corps are not contributing equitably . Why should American taxpayers subsidize multi billion dollar corporations while a vast majority who receive these subsidies circumvent their equitable share of the tax burden? How is that a free market?
And of course a coperation that sees corrupt politicians that want to control thiongs as a good thing and will suppoort politicians that want to create rules and regulations that limit new entries into the market.
If anything the last 10 years of deregulation should have taught the American people , you need common sense oversight and regulations. We have lived through what happens when we let the foxes watch the chicken coops. Too big too fail is a joke. When financial institutions make poor choices for their investors, why the hell should they be allowed to come to Washington hat in hand asking American people to bail them out?.
Look at the tax code that gives you a break on your taxes if you do this or that. Even if it makes no economic sense but to not pay taxes.
And then beat up the companies for using the tax loops? Remember the old gem of corperations don't pay taxes? It was said because the taxes are built into the price. But the fact is companies send billions and billions to washington and to the states in the form of taxes.
Yep close all loopholes. Make a good product , folks will purchase , offer a crappy product , fall by the wayside. Is this not the American way? Fact is Corps are getting their cake and eating it too, and only a few are profiting. ie: PROFITS ALL TIME HIGH, WAGES ALL TIME LOW. time for true tax reform.
The Liberals are the ones that so far have been the ones willing to deal with CRONY- Capitalism and picking winners and products.
BS , The bush tax cuts were put in place to pick the winners and losers. 81% of the tax cuts reward the top 2 %.
They are the ones that stole dealer ships from the people that oppised them in the GM take over and the closing of dealerships. All the closed dealer ships were Republican supporters, if that does not sing of cronyism. And think of the attacks if it had been a Republican that had closed Democrat supporters dealerships and the calls for impeachment and the never ending tales of poverty on CNN, MSNBC, or in the NY Times. Do you not understand that the concept of disposable income is what has built our economy and that creating more rules and regulations, higher taxes, and more fees only adds to costs that deminish disposable income and limits products limits purchasing power and increases unemployment.
Last I looked Detroit Auto industry is on the rebound , thousands of jobs saved . big three turning profits and the loans were paid back with interest. As far as closing dealerships. GM MGMT made those tough decisions (not the govt) to restructure, become more streamlined, and function more streamlined and gain profitability. If private equity had bailed them out , they would have had to do the exact same thing. made no difference where initial bailout $$ originated from. As Romney said a manged bankruptcy is a managed bankruptcy. The problem with the Romney approach is history supports , at the time of Auto industry collapse, there was no private equity available to lend.
Govt is not all evil. and history shows -
Bailing out GM was the right thing to do. it not only saved auto industry but the whole supply chain jobs as well.
Bailing out financial institutions to save the arses of the elite ,(who by the way used that money to give themselves big bonuses and take lavish trips) was wrong. They are back doing exactly what got us into this mess in the first place like nothing ever happened.
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Personally as painful as it might be I'm all for going over this fiscal "cliff" . I hope no deal is struck. Let all bush tax cuts go by the wayside. Then they can come back to wahington in 2013 and pass meaningful Legislation and True tax reform, common sense regulation, make Norquist irrelevant, and start working for "majority" of Americans again. . IF not well then 2014 elections will help vote out obstructionists. Washington has forgotten their primary job is working for the people not corp lobbyists , special interests, and campaign fund raising.
Semper Fi
