Why is it so bad for companies to make money? I hear all of this "windfall profits tax" talk coming from the left side of the political spectrum and I just don't understand it.
How can you punish a company that is making profits? Doesn't that just mean that they're doing what a business is supposed to do? Provide a product or service that a consumer can purchase, and do so in a way that brings more revenue than cost.
If you punish a business for doing just that, what keeps them in business? I was taught at an early age that if I did something that warranted punishment, I should not do it again. I did not like punishment.
I guess in the future, all businesses should be run by masochists.
All of this thought was fueled by the news today stating that Exxon had recorded record profits for this quarter. In most articles, the fact that the profit margins were only 9.7% is barely mentioned, if at all. What's also missing is that many companies operate on margins that are much larger than this, including media/publishing, who often target 20%+ margins, and banks and financial institutions that are still operating on 20%+ margins despite the rocky US economy.
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