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American Corporations Post Record 3Q profit, 1.66 Trillion

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posted on Nov, 23 2010 @ 10:13 PM
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Corporate profits hit a record high in 3Q


As the economy performed better over the summer than first calculated, according to today's Commerce Department report, U.S. companies turned in record profits for the third quarter — nearly $1.66 trillion, the New York Times notes.


Not bad, for having an avowed Muslim/Socialist/Antichrist for president.....




posted on Nov, 23 2010 @ 10:49 PM
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And yet the American working class still gets it in the (**
What does the average American have to show for that record profit?

1. more lost jobs
2. longer hours
3. attempts to increase retirement age
4. TSA Groping (ok just had to throw that in somewhere)
5. lower wages
6. part time employment
7. reduction of jobless benefits
8. an insurance bill that doesn't make insurance more affordable but does make you buy it
9. the destruction of savings so that the elite can reap the benefits of taking your property for pennies on the dollar
10. a bunch of rich a-holes laughing at you all the way to the bank where they own you and your property.



posted on Nov, 23 2010 @ 10:59 PM
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Originally posted by pirhanna
And yet the American working class still gets it in the (**
What does the average American have to show for that record profit?

1. more lost jobs
2. longer hours
3. attempts to increase retirement age
4. TSA Groping (ok just had to throw that in somewhere)
5. lower wages
6. part time employment
7. reduction of jobless benefits
8. an insurance bill that doesn't make insurance more affordable but does make you buy it
9. the destruction of savings so that the elite can reap the benefits of taking your property for pennies on the dollar
10. a bunch of rich a-holes laughing at you all the way to the bank where they own you and your property.


Quoted for emphasis, truth, and all that is sacred.



posted on Nov, 23 2010 @ 11:15 PM
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wow this is really mind blowing. the company i work for made an $8 billion profit last quarter. what i need to figure out is how to get in on that lol!!! there is alot of money being made and i want to work for a chunk of it! lol i sound like a mafia guy. hey if ya cant beat em join em



posted on Nov, 23 2010 @ 11:27 PM
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This is the part in history just before (which is also applicable to current) when the culling happens. Don't worry though the hedge trimmers will be on the scene beforehand whilst the bankers lay in waiting like vultures, waiting for the next house to be gobbled up.

Next up: Displacement parties (Or camps)

PS. I am just joking, nothing is going to happen, everything is going swell.
edit on 23-11-2010 by TheRemedial because: Freeedom!



posted on Nov, 23 2010 @ 11:41 PM
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hah! The corporations are posting record profits! The market is doing fantastic! Now.... according to my CATO and Heritage guide to the trickle down economics.... lets see here....

*turns pages*

ah yes! the economy should be wonderful and our unemployment rate should be low! hmmm, don't see that but hey, the wealthy know what's best. More tax cuts for the wealthy!
edit on 23-11-2010 by Southern Guardian because: (no reason given)



posted on Nov, 24 2010 @ 12:30 AM
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I'd really like to see some of these free-market conservatives we have on ATS comment on this. I mentioned this months ago, when profits and production were up while jobless rates remained. No one heard me. It was great.

But SG is right, we really need to keep those tax cuts for the wealthy, because everyone on the right is...right, in saying that it'll 'fix' the job problem and everyone will be rich again.

Tickle down economics......riiiiiight.



posted on Nov, 24 2010 @ 01:35 AM
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For anyone who doesn't know trickle down, in essence is the theory that: Our economy works best when we cut taxes for the rich..so they will spend and it will create jobs for the poor.

But what we find is that many rich only get richer..they do not spend, so it does not help the economy.

Give that money just taken from the rich (by taxing) and give it to the poor..I guarantee you that they will spend the money..it will create many more jobs than the rich sitting on their wealth.

That is my wife's idea so I will give her credit.

Peace

Let's just call that..the trickle up theory.
edit on 24-11-2010 by spav5 because: added last line



posted on Nov, 24 2010 @ 01:35 AM
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You do need to research further because the truth is that most of these corporations this article is talking about pay little to no taxes yearly, because of all of the loopholes they have been afforded. The Republicans BS that their taxes are too high is just not true. Go to the IRS web site and do some research and you will find this to be the truth. ExxonMobil, as one example, made huge profits last year, got government subsidies, that all oil companies get and paid exactly ZERO in taxes last year. Bank of America took bailout money, made huge profits and paid ZERO in taxes last year. This is just two of many that this is true for. This has been a constant untruth that the Republicans have been pedaling to us for years now. Huge tax burdens are not the reason, and in fact the Dems tried to get a bill passed that would close up some of the loopholes that companies that ship our jobs out are getting every year for doing so, and the Rethugs filibustered it like they do everything. (source)


I don't like taxes any more than the next guy, but this game certain mega-corporations are playing of not paying any taxes and outsource jobs simply in the name of pure profit will undermine the working class to the point there won't be any working class. Having CEOs and corporate boards earn trillions does nothing for America because none of that money comes back into the economy. "Trickle down" economics is an errant fraud. Close the tax loopholes and raise tariffs.



posted on Feb, 27 2011 @ 12:14 PM
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Trickle-down theory is a load of rubbish and this post proves it. Corporations made a record-setting 1.66 trillion profit last quarter, then where is the "trickle-down".


It was Voodoo economics back then, Bush Sr. called it correctly, and it's still voodoo economics today.

It seems to me the corporations have only one goal - to weaken the US from within to the point it utterly fails.

They've eroded the tax base with their greed, it's the little guy now that pays the taxes, and when he's been crushed completely, who will pay the taxes then? That will be when the country collapses. TPTB know this, that's why an NWO superstar like Bush started two unfinished wars, to stave off the collapse, but the wars have run their course and nothings better, all they did was delay the inevitable.




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