Those who feel that there is no such thing as excessive profit - I hope they have a 19 year old daughter in college. I hope she is driving home one weekend and her car breaks down with a flat tire. I hope the tow truck driver senses and opportunity to maximize his return on investment in his tow truck and charges her $713.45 to tow her car back to his garage. I hope the tow truck driver realizes an avenue for increased revenue by charging her $2643.09 for 4 new tires and a wheel rotation. I hope the tow truck driver detects the potential for expanding his business in order to better serve his client base by encouraging her to buy a new battery, too, for only $432.24.
We can hardly expect the tow truck driver to exhibit any sort of restraint when we have executives making $23 million for getting fired, can we?
GregSY,
I do have a 20 yr old daughter in college (my third of five to go through college) The other two are still in elemetary of high school.
what I asked was for people to give their definition of "excess profits".
King Brown, profits arent for the comon good. They are for the person who took the risk., taxes are for the common good. But when the govt. takes more than what the business owner makes, that is wrong. I do not think its right for the bottom 40% of wage earners in this country not pay any income taxes. Thats right, (US Govt statistics), no taxes. But with Socialism, thats the way it is.
Profit is the incentive for people to succeed. Success creates wealth which through reasonable taxes, provides for esential services. That is why the difference in state tax rates and some states not even having income taxes.
And on that note, name me one tax that created business, expanded the economy or assisted busness!
Bill Gates is probably the one person responsable for creating more indivisual wealth in this country and in the world. Shold he be begrudged his billions. NO!
More power to him.
This is classic class warfare. I find it ironic that so many will condemm the "fat cat CEO" but when a person makes 25 Million a year to play basketball or baseball, they are a sports hero???????????
Or the Hollywood elitist who makes 50 million ayear on films, doesnt sign for less than 20 Mil. BS!!!
Its easy to villify CEO's. Convenient, they fit a stereotype. But what fraction of a per cent of the business communjity are they? Its the same with gunowners. A fraction of a % does something wrong and the lot is condemmed. Hmmm..........Far as I am concerned, you are treating the effects not the cause by slamming the CEO's who made millions. The Senators and Representatives who signed the bail out are the ones who should be put in jail. Their exesses are far worse.
