Wednesday, February 13, 2008

About Corporate Profits...

The debate on corporate profits needs another angle.

Check your 401(k). What investments does it have? It will likely take some digging because of mutual funds and what-not that make it difficult to determine what exactly you have invested potential retirement monies in.

But I'm guessing stocks are a part of the mix.

And stocks benefit us with dividends (when the company is profitable and they offer dividends), higher stock prices (which helps the value of our 401(k)'s go up), and jobs if there is enough profit and volume to take that risk.

Taxing profits of a corporation affects workers, 401(k) plans, mutual funds, and stock investors. That's you and me, buddy. Nancy Pelosi is in effect taking money away from you and I and gussying it up with flowery class-envy/class-warfare rhetoric.

And she must be stopped.

Besides, on a gallon of gas, the federal government and the state government "profit" more than the oil companies do. In Wiscoinsin right now is a bill pending that would mandate ethanol use in our gasoline--beginning at 10% and going up to 25% over the years. Now, should the ethanol companies start making obsene profits (per mandate if the ethanol bill goes through) and we pay higher fuel prices, will the government turn on the ethanol makers as well?

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