Obama: Corporate Profits “Have To Be Shared By American Workers”
“If we’re fighting to reform the tax code and increase exports, the benefits cannot just translate into greater profits and bonuses for those at the top. They have to be shared by American workers, who need to know that opening markets will lift their standard of living as well as your bottom line,” President Obama told the Chamber of Commerce on Monday morning.
One certainly cannot say he is shy in telling us what he has in mind for us and Business. This should make the Stock Market take a rocket ride.
Conservatives on Fire has an excellent comment: here tis:
Is it possible that “The Smartest Man in the Room” is that stupid? Now, I’m going to assume that Mr. President is talking about after tax profits.
Does he not know that after tax profits means that everyone has already been paid up to and including the CEO? Does he not know what happens corporate profits?
Does he not know that profits are used for new capital invest to keep the company strong and thereby keep all their workers employed, and for paying down interests, and for paying dividends to those that own the corporation, which the IRS taxes a second time,and etc.?
These owners, Mr. President are called share holders and through employee pensions many, as you call them, workers are also owners. Or is it, Mr. President, that you want give the profits to the “workers”, which by the way includes all of the executives, so that you can reap more taxes?