Is It right to take away the profits of corporations and CEOs?

Question

If so, then shouldn't we take away the profits of entertainment and sports? They make too much money off the people. Their salaries are too high just like the CEOs.

Entertainment and sports are a corporate business too.

Answer 1

Absolutely not. If their profits are taken, how will they reinvest into the country? How will they provide jobs? What money will they have to spend back into the economy to keep it moving, and generating more income? How will they live? LOL, they need food, clothing, and housing, too!
The rich are rich, because people want to buy what they offer, what they have to sell. They must have a good product, or we wouldn't be buying it. Plain and simple. Success should be celebrated, not punished, or else why try? I know if I was never allowed to be the best at what I do, I wouldn't waste my time in trying to achieve a goal. Really, what would be the point? I could never make a better life for my family, I could never make a better life for myself. What aim could I possibly have to do anything, if I was not allowed to be great at what I do? I know I wouldn't care about it anymore. I'd probably stay drunk all the time, work in a workhouse somewhere, like the Russians did in the Cold War. They weren't allowed to try and be more, than they were given, by a government, then.
Perhaps it was called the cold war, because all the Soviets were poor, starving, needy, and wanting? There was no flux of monies entering or leaving that country (except through arms-deals, and the government got that money to feed their fat hides), no economy, no rich, forced labor. I don't want that for America, or my family.
I want my son to be the best he can be, because he earned it, even if he grows up to be the garbage man! LOL

Answer 2

Try this website: http://www.cbpp.org/10-16-03tax.htm


It has the following quote: Corporate revenues represented only 7.4 percent of all federal tax receipts in 2003. With the exception of 1983, this represents the lowest level on record (these data go back to 1934).

So exactly how are we taking profit away from corporations? And I'm willing to bet that the CEO's as well have good enough tax lawyers and accountants to get out of paying most of them. A corporation is an entity just as you and I are, and I feel they should pay their fair share, which is about 20% of their income like I do.

Answer 3

Athletes make the salaries they do because they directly contribute to the team making money. GM's give these salaries because they feel that the player will be able to help the team compete, which will bring in more fans, more merchandise sales, higher TV ratings, etc. etc., which will bring in more to the team than the salary being paid. Entertainers are paid based on expectations of the profits their efforts will bring to the company paying them. If an actor is paid $20 million for a film, but the film still makes a profit, what's the problem?

CEO's make huge salaries regardless of the performance of the company. Companies whose stocks fall, whose profits fall, who have to lay off workers still manage to pay huge salaries to their CEO's.

As to profits, while I certainly support the ideal of making profits, perhaps it is time to stop the ideal of making maximum profits short-term, and instead look to ways to better compensate those who work for the company, thus enabling the company to make the profits. This will put more money into the economy at all levels, allow for more savings and spending, and eventually increase profits and strengthen the economy long-term.

Answer 4

At first glance, that sounds like a great idea. Until you realize that taking away profits also removes the desire to achieve. This desire to achieve is what makes corporations expand and ....hire more workers! And you want to take their motivation away just so you feel better? After all, why work harder if you end up with nothing to show for it? Now imagine that attitude on a national level....see any problems? It is never right to take the fruits of one's labor, no matter the reason.

Their salaries are a direct correlation their worth. If you don't like it, why don't you get better job skills and make more money instead of complaining about what others make? Fact is you're also paid what you're worth. Don't like it? Too bad. Grow up.

Answer 5

points to you pip. yes there is benefits to having high gas prices but the cons out weight the pros ten fold. people say take a bus. i live in Cleveland Ohio i fairly big city and there is no bus route to my work. its 14 miles. i have cut all the excess driving i can and still no. just as big oil has jobs here and opening up the oil fields here would open more jobs the majority of it is still over seas. and who benefits also from high gas prices....the government with there tax. as the price goes up so dose the tax, which does nothing as far as i can tell. there is a fine line between capitalism and a monopoly and the oil company's are playing a monopoly on a valuable resources. they compare the price to over seas and it works out to be 10$ a gallon here but you have to consider that from there high tax's they get more from there government than we do regardless of income and that they have a superior system of transportation. its good that there making a profit and it would be better if they helped the economy but there not and just turning this into a monopoly and crushing the middle class.

Answer 6

NO - it is not right.
CEOs have a big responsibility running mega million dollar companies that EMPLOY many people. Not EVERYONE could do their job.

Entertainers and athletes are a dime a dozen. WHAT skill is there in PRETENDING to be someone else. It makes me laugh when actors talk about "taking risks" with their characters...WHAT? Our MILITARY takes risks. ACTORS PRETEND!!!
Athletes get way too much money and that drives up the cost of tickets. $100 to go to a football game?

I VALUE entertainment - don't get me wrong...I just put a smaller value on it than the current industry does I guess.

Answer 7

If the profits come at the expense of workers and the environment.

Professional athletes are like musicians. People fill the stadiums to see them perform. So I don't think their salaries are unfair. People give them the money.

When you talk about corporations, you have to consider government-granted monopolies, subsidies, unethical business practices, and so on. Corporations rival the government in terms of the influence they wield on society. Wal-Mart and Manpower have more power over wages and quality of life than the Congress. We demand Congressional oversight, so we should demand oversight of big business.

Answer 8

No! People should be rewarded not penalized for taking risks in business! Isn't it funny how Robin Hood is made out to be the good guy? It's ironic how many actors are anti-capitalism and pro-socialism yet they don't give most of their money to the government!

Answer 9

If you wish to pay CEO's what they are worth USE RESTRICKED stock options as their main form of pay. NO GOLDEN parachute. This way their LONG term value to their company is compensated. IF they manage their company well their compensation could be obscene, but worth every penny. If on the other hand their management ability is poor they will suffer even more than their employees.

Answer 10

It is not "right" to take from anyone. I agree with your supposition , that if we are going to "punish" some we should do it equally and I certainly cannot see the value of sports as compared to companies, but, taking is wrong, period.

When the politicians talk like this Americans should become really concerned since if they can take from one then they take from all, where is the line drawn.