I'm not against companies and businesses making profits, that's the American way. Gouging consumers, cheating the public, making money from taxpayers through government privatization, these are all legitimate issues however. Excess, runaway, rampant greed has taken over in too many sectors however. I read yesterday where the executives of the 25 largest hedge funds are averaging $540 million per year in compensation. That's simply obscene, especially compared to what the average worker is earning.
Comcast just reported an 80% increase in profits. This is for their first quarter reporting. They attribute much of the growth to their bundled services, phone, tv and internet in one package. This is amazing however and I wonder how much of these increased revenues they plan on sharing with the employees out there making it happen? I bet the Roberts family continues seeing the bulk of those funds go into their personal accounts.
Senator Casey is proposing a new tax on oil companies excess profits. His legislation would impose a 50% levy on profits from oil priced above $50/barrel. It also revokes tax breaks and raises royalties on leases of offshore oil field rights. He would use some of the revenue to help poor people pay for gasoline. ExxonMobil reported a 10% increase in revenues over last year's record numbers.