General Discussion
In reply to the discussion: What does "abolish profit" mean? [View all]Lint Head
(15,064 posts)I'm not sure of. But I have thought of this often myself.
Here is an example. Say an individual, and entrepreneur, has made 10 billion dollars personally profiting from his business. He has maybe 2,000 employees and a business that is successful and makes a profit every year.
Question. Could a person not live well with 10 billion dollars? Why would they need another 1 billion dollar bump the next year?
I have worked for several corporations and have a basic understanding of how they gauge success and profitability. I know there are people on this forum who probably have a better insite and have worked in accounting. But there's one thing I know for sure. Corporations base their success on a percentage of increase in profit each quarter. And if that goal is not reached they consider that a loss.
I understand that there must be an adjustment to make sure that profitability keeps up with inflation. But I think the idea of a percentage of increase as the gauge as opposed to the actual flat dollar amount is majorly flawed.
The laws and regulations today favor not only the wealthy but the large corporations. Do you as an individual look at your money each quarter and say well I made it percentage more than I did last year, this last quarter, and then believe that that makes you profitable? That's a profitability based on percentage not on the actual dollar amount.
Another example is an idea of the flat tax rate. Here in the city of Nashville Tennessee property taxes are gauged based on the percentage of increase in the value of the property. Not the actual value of the property. Just the increase.
We have the issue now of people living in four million dollar homes in an area whose property values of increased 25% yet the property values of people living in poor neighborhoods have increased 75%. That has forced the poor to have to sell their homes or move because they can't afford to live in the rental property they have lived in for years That regulation is detrimental to the poor and profitable to the rich. If you're living in an area where homes are worth an average of 2 to 10 million dollars. The increase is almost always going to be less then say a home worth $75,000 increasing to $200,000. Which is happening here.
The taxes are gauge based on the profitability of the property.