I have recently been informed that the President wants to start a board that would examine the profits businesses and corporations and determine whether or not it has made too much money. How absurd is that? Why should anyone have the ability to tell anyone else that they make too much? How will they determine what constitutes a reasonable profit? Will they look at profit margins? Will they take into consideration operating costs? Rainy day savings? Future expansion?
Without profit business doesn't grow or expand. Profits are saved and used to cushion lean years when profits are less than expected and are needed to make up the difference. Without those profits, businesses don't expand and hire new employees, raises and bonuses don't come.
Most of us know that this kind of "plan" is not really about fairness in income (which is a fallacy in itself). It's about bringing the wealthy down to everyone else's level which is straight out of the communist playbook. It's also short sighted. When you remove the incentive for hard work, you in turn remove the hard work. Fewer businesses will start, fewer jobs will be created. The poor will get even poorer and the playing field will be more level with everyone being closer to poverty, not wealth.
Without profit business doesn't grow or expand. Profits are saved and used to cushion lean years when profits are less than expected and are needed to make up the difference. Without those profits, businesses don't expand and hire new employees, raises and bonuses don't come.
Most of us know that this kind of "plan" is not really about fairness in income (which is a fallacy in itself). It's about bringing the wealthy down to everyone else's level which is straight out of the communist playbook. It's also short sighted. When you remove the incentive for hard work, you in turn remove the hard work. Fewer businesses will start, fewer jobs will be created. The poor will get even poorer and the playing field will be more level with everyone being closer to poverty, not wealth.