All Things Economic

I can see Wayne's point.

I completely disagree with it, but I can see where he is coming from.

I personally don't like the "fair share" argument. Who decides what a person or company's fair share happens to be.

All other things being equal, I think we should have a balanced federal budget. That, of course, depends on any kind of natural disaster, war, or other emergency. If we need to deficit spend, we should do so in those instances.

But we should not be running multi-billion or multi-trillion dollar deficits as a matter of practice.

“The problem I have with the term "corporate greed" is that it is just an emotional viewpoint. Define what you consider "greed"“

Greed equals Enron. I worked there. I saw it. I know.

And some of the very same people that were doing shady things then, have moved on to other corporations and are still doing shady things.

Not all corporations have greed as their defining characteristic, but almost all major corporation have some greedy elements.

"The problem I have with the term "corporate greed" is that it is just an emotional viewpoint."

You are the one who said, “In a free economy corporate greed is impossible." So it appears this is an emotional issue for you, not me.

My comment was, "I haven’t seen anyone denouncing corporations for making a profit, I did say that a company that blames inflation for a 20% price hike while making billions of dollars per year and paying hundreds of millions in bonuses and dividends is being disingenuous. Do you disagree?"

"I also think that it is moraly wrong for businesses to pay ANY taxes. No business should be taxed. Businesses and corporations are all run by people. Those people are already paying taxes, so when you tax their business, you are taxing them twice. That isn't very fair at all. If they didn't pay taxes, they would have more profit to share with their employess and work on making better products."

Besides that comment taking us back to la la land, the idea that, "...they would have more profit to share with their employess and work on making better products." is the fantasy of trickle-down or supply-side economics which has failed to do anything of the kind. As demonstrated by General Mills, when they raked in $2.1 billion, they didn't give raises to their employees or lower prices on their products, they rewarded the investors and executives.

BTW, I don't see this as black or white, good guys vs bad guys, there needs to be a balance between supply side (reward business investments and investors) and demand side, paying a living wage and corporations paying their fair share of taxes.

It worked in the 60s, 70s and into the 80s until Wall Street deregulation but that's another conversation.

~Scamp.

<p>"<span style="background-color:rgb(255, 255, 255); font-family:open sans,sans-serif; font-size:14px">Yes, actually, on a fundamental level corporations and the very wealthy do stuff large amounts of money back into a mattress."</span></p>

<p><span style="background-color:rgb(255, 255, 255); font-family:open sans,sans-serif; font-size:14px">Can you explain that? So you are saying that the wealthy take their money in the form of cash and physically hide it somewhere, never to be spent on anything?</span></p>

"Do you think they just stuff it in a matress and waste it? No! They invest it in some way, shape or form back into the economy."

I'll leave the tax nonsense to anyone that has more patience than me, but this one? Yes, actually, on a fundamental level corporations and the very wealthy do stuff large amounts of money back into a mattress. It's why supply side economic theories don't actually work, no matter how often they're proffered.

If you want the healthiest of all possible economies, you privilege the middle class, making it possible for them to grow wealth and increase their standard of living.

<p>"<span style="color:rgb(0, 0, 0); font-family:open sans,sans-serif; font-size:14px">I haven&rsquo;t seen anyone denouncing corporations for making a profit, I did say that a company that blames inflation for a 20% price hike while making billions of dollars per year and paying hundreds of millions in bonuses and dividends is being disingenuous. Do you disagree?"</span></p>

<p><span style="color:rgb(0, 0, 0); font-family:open sans,sans-serif; font-size:14px">I don't agree with. The problem I have with the term "corporate greed" is that it is just an emotional viewpoint. Define what you consider "greed"? Is it based on profit? Is there a certain profit level that should not be allowed?</span></p>

<p><span style="color:rgb(0, 0, 0); font-family:open sans,sans-serif; font-size:14px">Back to General Mills. What I found is that ever since 2021 their profits are down. Yes, they made over 2 billion, but that profit is down year-over-year. So relatively speaking, they are losing money.</span></p>

<p><span style="color:rgb(0, 0, 0); font-family:open sans,sans-serif; font-size:14px">I also think that it is moraly wrong for businesses to pay ANY taxes. No business should be taxed. Businesses and corporations are all run by people. Those people are already paying taxes, so when you tax their business, you are taxing them twice. That isn't very fair at all. If they didn't pay taxes, they would have more profit to share with their employess and work on making better products.</span></p>

<p><span style="color:rgb(0, 0, 0); font-family:open sans,sans-serif; font-size:14px">What do you think people do with money that they didn't pay in taxes? Do you think they just stuff it in a matress and waste it? No! They invest it in some way, shape or form back into the economy. Even if they use it to buy yachts and private jets, they is investing it in the yacht and private jet companies and those companies have employees and vendors that they the pay.</span></p>

"I blocked 5looking a short while ago."

I did so years ago. Because I have a policy of blocking people with the sorts of mental disorders that make for only toxic, unpleasant interactions.

There is literally no point to dealing with them, unless you get something out of it, and I don't.

“ This is the first interesting thing you've posted. Two questions. Why for the first and second statements? I like to hear why ppl don't believe in sky daddies and invisible friends”

Who said anything about god? I don’t speak of a god. That’s your adoration and another failed attempt at comedy.

“ I find it interesting that some of the people denouncing "greedy corporations" for making a profit, are also bragging about how they are killing it in the stock market, investing in........................................................
greedy corporations making profits.”

I haven’t seen anyone denouncing corporations for making a profit, I did say that a company that blames inflation for a 20% price hike while making billions of dollars per year and paying hundreds of millions in bonuses and dividends is being disingenuous. Do you disagree?

~Scamp

“If you are serious about setting aside?” Yes

“Do you first believe that the lack of product for nearly 3 straight years, the planetary inflation on all products produced wasn’t severely impacted.” I believe global inflation is the result of the pandemic when there were shortages of everything from toilet paper to microchips, and try to explain this to those who wish to blame the current administration for inflation.

“… if you know anything about health you know that cereal is the worst thing you can consume.” I don’t eat cereal, I was using it as an example of corporations price gouging while blaming inflation.

“They couldn’t be over charging if you weren’t over buying for something you despise. They don’t take the money out of your pocket you did.” I agree to a point. But when so much of what we buy is controlled by just a few companies, alternatives aren’t readily available. A free market only works when there is competition, monopolies eliminate competition.

“Have you figured out that you pay the biggest profit to the government through Federal, State & local taxes. You complain about corporations but you ignore the armed faction of a government that can imprison you if you don’t comply with their gouging.” This is a different topic altogether but I am in favor of complete transparency and accountability for government and businesses.

“I never said I have the answer to everything. I have said it is my opinion based on my life in the business and corporation world as well as the political one.” And all I can offer is my opinion from my pov as a retired, former small business owner who grew up in a blue collar town. But I’m sure you also agree that both of our perspectives are shaded by our political leanings, for better or worse.

“And no it is not my belief that they are artificially causing it to get Trump back in office.” You have to admit, that would be a pretty strong motive though.

“To be totally honest I don’t have belief of faith in any entity these days. I probably never should have in the first place. I do know that all of it.. how we treat each other, how we relate to each other, how we protect each other has changed and it has made all this uncomfortable between us but be ifical to those who impose..”. If you are saying that we have all been “gaslit” to some extent by every entity, be it government or business or religion and we now view each other through the lens of misinformation and propaganda and have been manipulated to view anyone who disagrees with us as our enemy, I would at that is a sad but true statement.

To clarify my comments about corporate greed, I understand it and agree that companies need to be profitable to survive and be innovative but they should be honest about price increases and not blame inflation while setting record profits and BTW, should pay their fair share of taxes.

~Scamp

Maybe he's the poster boy for "Money can't buy you happiness"?

If I had homes on 3 continents, there's going to be a lot of peace and pussy inside of it.

Maybe it's a Limp Noodle situation? Able to buy the world's premium pussy, but gotta pay someone else to fuck it?

Remember that line in the Sopranos?

Tony is describing his mother as "She has a Virginia ham under both arms and complains she doesn't have any bread"

"He was all nastiness and brought nothing of value to any discussion"

You'd think that someone so "successful" wouldn't be so unhappy.

I blocked 5looking a short while ago. He was all nastiness and brought nothing of value to any discussion.

Sounds like I made a good decision.

I find it interesting that some of the people denouncing "greedy corporations" for making a profit, are also bragging about how they are killing it in the stock market, investing in........................................................

greedy corporations making profits.

"To be totally honest I don’t have belief of faith in any entity these days. I probably never should have in the first place"

This is the first interesting thing you've posted. Two questions. Why for the first and second statements? I like to hear why ppl don't believe in sky daddies and invisible friends.

@ scamp..

To be totally honest I don’t have belief of faith in any entity these days. I probably never should have in the first place. I do know that all of it.. how we treat each other, how we relate to each other, how we protect each other has changed and it has made all this uncomfortable between us but be ifical to those who impose..

Part Duex..

Have you figured out that you pay the biggest profit to the government through Federal, State & local taxes. You complain about corporations but you ignore the armed faction of a government that can imprison you if you don’t comply with their gouging.

Can you tell me how you can’t point to unbridled taxing as nothing more than gouging by the government and experienced by everyone public and private?

I don’t look at a glass as half full or half empty.. I think someone should seal it before no one benefits from it.

I have my doubts that this will lead to any later civil conversations but one could hope. I never said I have the answer to everything. I have said it is my opinion based on my life in the business and corporation world as well as the political one. And the outcome I have achieved because of looking forward and thinking for myself.

“So putting your personal attacks, insults and condescension aside for a moment, perhaps you could address the topic at hand.”

You do realize that China has had its hand in General Mills for nearly 30 years. It runs manufacturing as well as cake kitchens.
There are far reaching reasons for a lot of things most don’t understand or even think about. Many depend on the media, and the government for their opinions.
If it were not for corporations this government would cease to exist. Prove me wrong. They provide innovation, bringing taxes, jobs, bringing taxes, commerce, that brings in taxes. Without them this country could not and would not exist in the world fourm.

In January cereal companies were pushing that their cereals are cheaper and better for them. Ind the blind dumb public buys it. A good portion of the populace are sheep. Forever they believed in a government produced food pyramid. Hmm. How did that work out.

If you are serious about setting aside? Do you first believe that the lack of product for nearly 3 straight years, the planetary inflation on all products produced wasn’t severely impacted. You are being lied to, and you are being led to believe untruths. And you are buying it. Again.. if you know anything about health you know that cereal is the worst thing you can consume.

I will go back to if they are making a profit you or anyone else doesn’t agree with then stop buying from them. Find an alternative.

Every industry has paid advocates. Every company, corporation or conglomerate is there to profit. You are the ATM machine. They couldn’t be over charging if you weren’t over buying for something you despise. They don’t take the money out of your pocket you did. See a problem here? I guess not.

And no it is not my belief that they are artificially causing it to get Trump back in office. You would have to use that same question if the government is artificially promising labor unions. It’s what they do,

Have you figured out that you pay the biggest profit to the government through Federal, State & local taxes. You complain about corporations but you ignore the armed faction of a government that can imprison you if you don’t comply with their gouging.

Can you tell me how you can’t point to unbridled taxing as nothing more than gouging by the government and experienced by everyone public and private?

I don’t look at a glass as half full or half empty.. I think someone should seal it before no one benefits from it.

I have my doubts that this will lead to any later civil conversations but one could hope. I never said I have the answer to everything. I have said it is my opinion based on my life in the business and corporation world as well as the political one. And the outcome I have achieved because of looking forward and thinking for myself.

“Hmm, my first guess is you're a Bernie Madoff Business School graduate? If so, you're good”

Think back to 2019 Belize.. shouldn’t be that hard. 6 degrees of separation my friend.. Six degrees of separation.. no recall of talking about our suites? Do you remember who you were with? I do..

You sound much different in print than you do in person. You should have been able to identify who I am just by my financial strategy that you agreed with here in the forum as I had shared with you on the cruise.

Yeah.. It’s a small world..

“Hmm, my first guess is you're a Bernie Madoff Business School graduate? If so, you're good”

Problem is you personally know better than that. We have had several encounters face to face on cruises and at parties. I’m sorry you haven’t figured that out yet.. But you know better..

You feel better now?

“If you take offense at something said to you or about you on an anonymous swingers board, maybe you don't have the maturity to be on the internet at all...”

Ya did.. and Kettle.. meet black..

" I’m not going to relive how it started but it was a comment you made about my mother."

I did no such thing.

I made a comment about your post (whatever it was), and you are so small minded that you took it personal.

I can't help that you are so thin skinned that you have to respond to every perceived slight with invective.

However, I will tell you what I tell a lot of people.

If you take offense at something said to you or about you on an anonymous swingers board, maybe you don't have the maturity to be on the internet at all...

"I have faith you can understand the innuendo without me having to waste my time writing it. Come on man.. you got this."
-------

Hmm, my first guess is you're a Bernie Madoff Business School graduate? If so, you're good.

@5

So putting your personal attacks, insults and condescension aside for a moment, perhaps you could address the topic at hand.

DJT held a news conference the other day where he blamed inflation on Biden and used food as props with posters showing how much prices had gone up and one of those posted was cereal, up 23.5%.

I posted that General Mills blamed inflation for raising their cereal prices 20% while raking in $2.1 billion in profits, paying over $300 million in dividends and another $150 million in stock buy backs and executive bonuses.

So I have two questions for you, since you are firmly in the “greed is good” camp.

Why do companies blame inflation rather than just admit they cater to inventors, executives and shareholders, not employees and customers?

And 2, do you think companies are artificially driving up prices and blaming inflation so people will vote for the guy who has already promised further tax cuts to the wealthy and large corporations?

Thanks in advance for your thoughtful response.

~Scamp