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People keep claiming this, but SEC filings don't show these inflated profits across any sector I have checked in to. Which sector(s) do you claim is gouging pe

People keep claiming this, but SEC filings don't show these inflated profits across any sector I have checked in to. Which sector(s) do you claim is gouging people for higher than normal profits? Have evidence in the form of profit/loss records?

aaomidi 4y ago
Inflated revenues would be the thing to look for, not inflated profits.
- ChrisLomont 4y ago
  Inflated revenues do not show gouging - they show increased costs to sellers. Inflation alone will increase the numerical value of revenues and profits. Gouging implies sellers are making significantly more than they used per same amount of sales. So to demonstrate gouging you should demonstrate increased profit/revenue. I have looked at multiple industries main players, and find no evidence of this (as has many economists). Again, does anyone have solid evidence for this claimed "gouging" in some sector other than opinions?
  - aaomidi 4y ago
    You're just using words to justify stuff. You realize the creative accounting companies do to make their profit as close to zero right? For example, look at the number of stock buybacks. This is money that you're spending with these companies for them to go buy their own stocks, reducing their tax burden. Theres a ton more. Do you have evidence price gouging isn't happening? Other than looking at the most basic thing of profits?
    - ChrisLomont 4y ago
      >This is money that you're spending with these companies for them to go buy their own stocks, reducing their tax burden. No. Companies pay tax on profit, then use post tax profit to buy back stocks. Learn tax law before making up stuff. > You realize the creative accounting companies do to make their profit as close to zero right? Anything they do illegal under tax law should (and is) prosecuted. There is no need for any entity, whether it be a person, a company, a non-profit, a charity, any entity, should pay more in taxes than the laws states. >Do you have evidence price gouging isn't happening? Yes, it does not show up in economic analyses of companies. Economists who also study such things have written they also don't fund evidence. So, now do you have evidence there is any sector wide gouging, other than hand wavy pop culture feelings and rambling? I told you really solid evidence that the allows checking the pop ignorance on the issue. Now provide the solid evidence to the contrary. Invoking wizards and magic and conspiracies is not evidence.

aaomidi 4y ago

Inflated revenues would be the thing to look for, not inflated profits.

ChrisLomont 4y ago
Inflated revenues do not show gouging - they show increased costs to sellers. Inflation alone will increase the numerical value of revenues and profits. Gouging implies sellers are making significantly more than they used per same amount of sales. So to demonstrate gouging you should demonstrate increased profit/revenue. I have looked at multiple industries main players, and find no evidence of this (as has many economists). Again, does anyone have solid evidence for this claimed "gouging" in some sector other than opinions?
- aaomidi 4y ago
  You're just using words to justify stuff. You realize the creative accounting companies do to make their profit as close to zero right? For example, look at the number of stock buybacks. This is money that you're spending with these companies for them to go buy their own stocks, reducing their tax burden. Theres a ton more. Do you have evidence price gouging isn't happening? Other than looking at the most basic thing of profits?
  - ChrisLomont 4y ago
    >This is money that you're spending with these companies for them to go buy their own stocks, reducing their tax burden. No. Companies pay tax on profit, then use post tax profit to buy back stocks. Learn tax law before making up stuff. > You realize the creative accounting companies do to make their profit as close to zero right? Anything they do illegal under tax law should (and is) prosecuted. There is no need for any entity, whether it be a person, a company, a non-profit, a charity, any entity, should pay more in taxes than the laws states. >Do you have evidence price gouging isn't happening? Yes, it does not show up in economic analyses of companies. Economists who also study such things have written they also don't fund evidence. So, now do you have evidence there is any sector wide gouging, other than hand wavy pop culture feelings and rambling? I told you really solid evidence that the allows checking the pop ignorance on the issue. Now provide the solid evidence to the contrary. Invoking wizards and magic and conspiracies is not evidence.