Does anyone else have a problem with this?

[tony barnhill]

"Profit" generally is the making of gain in business activity for the benefit of the owners of the business. The word comes from Latin meaning "to make progress," is defined in two different ways, one for economics and one for accounting. Pure economic profit is the increase in wealth that an investor has from making an investment, taking into consideration all costs associated with that investment including the opportunity cost of capital. (Wikipedia)

Yep, it is the monetary surplus left to a producer or employer after deducting wages, rent, cost of raw materials, etc.; & the goal is to make it as large as possible to return to the investors (partial owners of the business) a gain on their investment and to attract other investors (partial owners).

So, no matter how great their profit, I have NO problem with it!

 

[Basil]

But isn't the definition of Profit a residual? Something leftover after all expenses have been paid to include, salaries, hourly wages, materials, taxes...? If they posted a Profit of close to 15 BILLION, it seems more than capitalistic. They beat thier own record!

Exxon details from market watch Note they returned $10 Billion to shareholders though dividends and they paid record taxes as well. Good news for Fed revenues and Good news for stock holders.

 

[RomanH]

Was it $32 Million that Exxon paid in taxes this last year?

Tony, I think it was $32 Billion not Million.
So the lion's share goes to the taxman.

 

[Basil]

One Post Deleted - swerved into politcal topic. Gonna lock this now.

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