The Government's Peculiar Assault On Profits

Forbes.com ^ | June 7, 2010 | John Tamny

[mlocher]

In Ludwig Von Mises' 1922 book Socialism, the Austrian School economist noted that it offered happiness and enjoyment "to the losers in life's game" and "humiliation of all who are stronger and better than the multitude." His words still ring true today.

To watch what is happening in Washington right now is to witness a sickening scenario where the productive are the enemy, and the weak are good. To put it more simply, the political class is engaging in a peculiar assault on corporate profits.

This is strange and unsettling at first glance, given the basic truth about business success. Since U.S. corporations operate in what is a mostly free society, their achievements are always and everywhere the result of what Von Mises termed a "consumers' plebiscite." If consumers like what businesses are doing, they vote with their disposable income in favor of the companies doing best by them. The greater the profit, the greater the previously unmet need that's been fulfilled.

But to politicians seeking to score cheap political points for going after big business, profits are something to penalize. That one can't harm businesses without degrading opportunities for workers and consumers alike doesn't seem to concern them.

[mlocher]

Sadly for all of us, if the present offensive proves successful, corporations will to different degrees be robbed of their future and more jobs will be lost.

How high does unemployment have to go before "we the people" reign in this monstrous administration?

[piytar]

“That one can’t harm businesses without degrading opportunities for workers and consumers alike doesn’t seem to concern them.”

Sadly, I see this fallacy again and again. These marxist politicians WANT to harm workers and consumers. Why? So they become dependent on the government. Again, why? Because that gives them more power.

THAT’S THEIR ONE AND ONLY GOAL.

[OneWingedShark]

I believe you are right.