While this article may come off as being political, that is not my intent. It is election season in the USA, and things can get a little heated if you delve into politics. That is why I like to avoid the topic, for the most part.
I am going to show a video here in this article. The video was shot at the ongoing Democratic National Convention (DNC) in Charlotte, NC. In the video, delegates and others at the DNC are interviewed by a radio personality and asked about corporate profits. Surprisingly, almost all who are interviewed say that profits should be banned, or at least capped. Now, I would admit that people who gave a more credible answer were probably edited out of the video, and I sincerely doubt that all respondents called for a banning of profits.
Frankly, it does shock me that even a few people would think like this. Earning a profit is the reason why companies go into business at all. People invest serious amounts of money to start a business. In the case of companies in major industries like steelmaking, automobiles and such, billions of dollars are invested. These companies must recover their investments, and also if no profit is allowed, why risk your money in the first place?
Another thing that I found startling about this video is that the folks who are responding don’t seem to realize that it is corporate profits that fund their retirements and such. For example, a teacher’s union in California may well be invested in a steel company in Pennsylvania, an automobile company in Detroit, etc. They invest in these companies through the stock market, and the profits from these companies are what pays the retirement funds of the teachers, firefighters and such in California and all around the USA. Without profits for the companies, such retirements would have no money at all!
Anyway, I do not mean this as “look at the Democrats, look how stupid they are.” The fact is that the video was shot at the DNC, so that is what I had to use. I suspect that if you went down to the grocery store in Anytown, USA, you would get similar answers from many of the “everyday” folks shopping there.
Wake up, folks! Profit is good if it is earned in a legitimate way. If there is cheating, stealing and such going on, then those profits are not legitimate, but the question asked of these folks was about profit, not unfair practices. Profit and the ability to make a profit on your work and business is what made America the country it is today. Oh… scratch that… it is what made America the country it was 10 or 15 years ago! 😉