gmallast Wrote:
Nov 13, 2012 7:36 AM
I agree. But Obama won re-election on such stupidity. Many people really think corporate profits are something taken from the workers rather than the means of financing both their jobs and the production of what they consume. Ignoring taxes, on average slightly over 80% of corporate revenue goes to people working and only 8% to profits. The rest is materials, interest, and other such odds and ends. So when taxes are raised on corporations it is obvious the biggest hit will fall on the biggest expense--labor. But with the majority of Americans contemptibly ignorant of economics and with academic economics in the hands of crackpots like "Helicopter". Bernanke, what do you expect?