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Conservative Compass Blog
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Written by Bob Sordahl
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Sunday, 08 March 2009 |
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Who do you think owns “Big Business”? You know, the sleazy corrupt practitioners of theft. The ones who smoke big cigars in their big city penthouses while they plan their next big rip off of the American people. I’ve done some research, I have met the enemy, and to a large extent, it is us. It is you and me, Joe citizen. It is teacher and state employee retirement funds, it’s your insurance company and institutions of higher learning. Any entity that invests money into companies hoping for return, is a part owner and benefits from the success of big business.
If you have a 401-K or other retirement account, have you ever really looked at what’s in your portfolio? My 401-K for example contains investments in Exxon Mobile, Wal-Mart, Wells Fargo, General Electric, Chevron and JP Morgan Chase to name just a few. My retirement fund and those of millions of Americans are dependent upon and intertwined with the success and profitability of most of the largest companies in this Country. Do I want these companies to pay out ridiculous salaries and bonuses when times call for austerity? Hell no, but do I want them to stop incentives for corporate and sales success? Absolutely not. What is good for their business is good for my investment, and my ability to retire at some time in the future. And, incidentally, the ability of your insurance company to cover claims that far exceed the amount you have paid in premiums. Or even, your ability to put your kid through college for far less than what it costs to pay all those professors and heat the buildings. There have been abuses to be sure, but to vilify all big business, as seems to be in vogue today, is shortsighted and will actually make things worse.
Congress, and their twin from a different mother the mainstream media, have done such a complete job of beating up business in this Country that they have almost single handedly destroyed the executive jet business, and dropped convention destinations like Las Vegas into a deep slump. I guess corporate executives are supposed to take a Greyhound to the meeting in Chicago, and local picnic grounds will be adequate for that big sales seminar. There is, it seems to me a huge difference between constructive criticism based in reason and fact, and just piling on. Should we throw more money at a corporation that has burned through its last loan to the tune of $80+ million a day? No, but there are plenty viable businesses out there that don’t need to be crippled by misguided government policies which are attempting to alter the free market, and raise cash for dubious schemes to share the wealth.
How do you drive your kids to soccer without the gas provided by some big business? It takes 10 to 15 years of exploration, equipment procurement and actual drilling before even one penny is earned by an oil company. Their reported profits are hefty to be sure, but they still average only about 8% ROI on a huge cost outlay, coupled with a lot of risk. Bookstores, grocery stores and McDonalds consistently make a better return, and I don’t hear anyone complaining about that.
So the next time someone says we should eliminate corporate tax breaks, or whines about “corporate welfare”, ask them if they have any investments. Then take a moment and remember who the real beneficiaries of a healthy, robust pro-business climate are. It is not really the enemy...it is us.
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