Too Much Profit

Let me just start by saying, liberal politicians have got to be the most retarded people on earth.

Of course, we all knew that already, and of course conservative politicians are close behind them, but still…

The latest thing is, the Democrats (not to be mistaken with the word “democracy,” as they have nothing to do with each other) have decided that big companies, particularly U.S. oil companies, have made “too much profit.”

Let’s look at the facts.

1. Companies exist to make money.
2. Demand drives prices under a capitalist system.
3. Everybody in the world wants oil.
4. One particular oil company isn’t trying to “gouge” anyone, because no one wants to price themself out of the market.
5. Oil companies, at least the smart ones, are investing a crapload of money into research and development of alternative energy solutions, because they know their days are numbered.
6. Taking money away from them will reduce their ability to do R&D.
7. Less R&D means a huge crisis looming sometime in the future.

The lessons transfer almost perfectly to pharmaceutical companies… more profit means more R&D, more R&D means more cures, and how could more cures be bad for anyone? Yes, they are subject to a lot of lawsuits, which is why today there is only 1 remaining manufacturer of flu vaccines in the United States. Speaking of cutting off your nose… And the Democrats are trying to block Bush’s attempt to shield pharmaceutical companies from insane lawsuits. (i.e. The person hurt or killed by a drug reation only had a lifetime earnings potential of 1 million dollars, but the plaintiff is awarded 50 billion gajillion dollars for punitive damages.) So basically, we want to punish drug companies for leading the effort of finding cures. Smart.

So back to big oil. Yes, several oil companies did very well in the last year. Some of them made as much as 9 billion in profits in a single quarter.

Good for them. In the process, they employ millions and millions of Americans, they increase the wealth of investors like me an you, and they provide something to us that we need… not to mention cutting into the amount of oil we have to buy from the middle east. Another advantage.

So the Democrats want a “windfall” tax. In other words, if your company makes “excessive profits” you are subject to a huge additional tax.

Personally, I hope to eventually make “excessive profits” whatever the hell that means. If companies exist to make profits AND maximize shareholder value, then how can we even entertain the thought of penalizing them for being successful?

It’s an idea that only a socialist Democrat could come up with, and hopefully the Republican congress will crush it like the cockroach that it is.

The day we’re limited on the amount of profit we can make (by anything besides supply and demand), that’s the day I’ll be moving my company out of the country. You can’t impose penalties for success. It’s contrary to everything the founding fathers intended when they came here.

This is a capitalist free market society, and I don’t remember there ever being a vote to change that… do you?

Incredipete

  11 comments for “Too Much Profit

  1. November 4, 2005 at 12:39 pm

    Ooooh, okay; normally I avoid anything political like I avoid sea urchin sushi, but I just wanted to take this moment to say:

    Damn Effing Right, Incredipeter.

    That is all.

  2. November 4, 2005 at 12:43 pm

    YES!

    Agreement! Harmony! Affirmation!

    Hooray!

  3. November 4, 2005 at 1:08 pm

    I often try to be open minded and at least try to understand where either side is coming from. But, limiting profits? Kinda like how the Way Left are the ones who want to limit what you can say and do. Strikes me, if anything, to be like the Way Right. The sooner everyone realizes what most of us want, the better off we are. But, it’s the fringes who have the voice…and the money.

    I know this is a silly analogy…but this season’s West Wing is taking an interesting swing at all this. The live debate this week should be interesting…a little pie in the sky from an ideological standpoint, but a wee glimpse at what could be.

  4. November 4, 2005 at 1:20 pm

    I love WEST WING!

    I love that they’ve pulled abortion up as a “hot topic” that they want to avoid. I think that if both republican and democratic candidates were pro choice (pro baby killing) the red staters might give a good 30-40% of the vote to a third party pro life candidate… Just saying.

  5. November 4, 2005 at 3:31 pm

    I CANNOT BELIEVE that i’m being outvoted for someone who hasn’t updated in like, FOREVER. Sorry HRT. Just venting.

  6. Rik
    November 4, 2005 at 4:35 pm

    Mental, technically, i never signed up for the poll. You can have my 3 votes.
    Incredipete, i’d have to agree with you there. You don’t penalize the Chiefs for score too many touchdowns (i know it’s a hypothetical, ha ha ha) do you?

  7. Your Incredibly Adorable Little Sister
    November 4, 2005 at 11:26 pm

    Dear, you must quit typing R&D. I kept getting distracted, thinking “oooh….shiny…Rackets & Drapes…” ‘Twas nice for the moment, but i believe it kept me from comprehending your little entry.

    Really, you should write and entry about Rackets & Drapes. That’d be awesome.

    Thanks.

  8. November 5, 2005 at 9:25 am

    PETE!! that is just crazy talk! Go tak your medicine you’re making sense!

    Oh and by the way my frind is taking me to the raiders game on Sunday and guess what? I’m wearing the SILVER AND BLACK!! JUST WIN BABY!!

  9. November 5, 2005 at 11:13 am

    You traitor! I’m a raider hater.

    I hope you don’t get pushed off the upper deck! Maybe I’ll see you there…

  10. November 7, 2005 at 10:31 am

    Incredipete, I’ve just reached a new level of luv fer ya; of course everyone who hates the Raiders are on that level but we won’t talk about that.

    YAY KANSAS CITY!!!

  11. HRT
    November 8, 2005 at 1:02 am

    a) I have updated, twice in the past week so :p
    2) not everybody believes in the free market system, those same people also don’t believe that you and I are smart enough to do the right thing for ourselves, our families and society in general
    -and finally-
    4) I can’t believe I’ve restrained myself for 3 whole days from gloating, I really must be losing my touch
    f) So sir-Incredipete-a-lot I’ma need a lot ‘o help learning how to use the prize that I am OH so unworthy of, but thanks to the other 11 people who voted for me! And in the words of Sally Fields “you like me! you really like me!”

    end.

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