What’s Wrong With This Picture?
When the Republicans are trying to justify tax cuts for the wealthy you will hear:
A rising tide raises all boats.
Think about the assumptions in that. They want you to think that it means that everyone will benefit.
When I hear it I think:
You have to be wealthy enough to afford a boat or you’re going to be treading water until you drown.
After 7½ years which version contains more truth?
CNN/Money reports that Exxon posts record $11.68 billion profit
NEW YORK (CNNMoney.com) — Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
…
But Exxon (XOM, Fortune 500) profit fell short of Wall Street estimates.
Analysts predicted the company, the world’s largest publicly traded oil firm, would make $12.1 billion in profit on $144.4 billion in revenue, according to Thomson Reuters.
Exxon shares fell about 3% on the New York Stock Exchange.
Even though Exxon made the most money in the three months that any corporation has ever made, the Wall Street class is upset that apparently they didn’t get all of the money that was available. They are angry that a middle class family somewhere is still able to afford peanut butter and jelly with two slices of bread for their kid’s lunch, and won’t be happy until the kid goes to school with a package of crackers from a soup kitchen so the parents have the gas to go to work.
2 comments
A rising tide lifts all wallets…
Ain’t that the truth.