Saturday, October 27, 2012

Corporate Profits Thriving Under Obama

Looking at the above chart (from The Motley Fool), I have to wonder why the corporations are spending so much money to defeat President Obama. Corporate profits have enjoyed a higher annual growth during his presidency than under any other president since 1900. Are they so enamored by Willard Mitt Romney's promise of a massive tax cut that they would risk putting their own profit growth in danger?

Note that the policies of Ronald Reagan and George W. Bush -- the policies that Willard wants to return to -- didn't produce nearly as good a results as have been seen under President Obama. In fact, if you take out the recession, and judge President Obama from pre-recession levels, the growth of corporate profits under Obama is still three times as large as that under Ronald Reagan -- and much higher than under George W. Bush (who doubled-down on Reagan's trickle-down policies and threw the nation into recession).

This makes me wonder about the intelligence of corporate executives. Isn't it better to pay taxes on a very large profit, than to not pay taxes on a very small (or non-existent) profit?

No comments:

Post a Comment

ANONYMOUS COMMENTS WILL NOT BE PUBLISHED. And neither will racist,homophobic, or misogynistic comments. I do not mind if you disagree, but make your case in a decent manner.