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> extracting mega-profits You realize these companies are largely publicly traded, and their financial statements can be looked at? For example, compare ExxonM
by 35235235235 4y ago
> extracting mega-profits
You realize these companies are largely publicly traded, and their financial statements can be looked at? For example, compare ExxonMobil (the firm Biden's ire has mostly been directed at) with Google:
https://finance.yahoo.com/quote/XOM/key-statistics?p=XOM https://finance.yahoo.com/quote/XOM/key-statistics?p=XOM
>Profit Margin 8.34%
>Operating Margin (ttm) 10.86%
https://finance.yahoo.com/quote/GOOGL/key-statistics?p=GOOGL https://finance.yahoo.com/quote/GOOGL/key-statistics?p=GOOGL
> Profit Margin 27.57%
> Operating Margin (ttm) 30.47%
Those are just in relative terms. In absolute $$$ figures, there's no comparison. Oh, Exxon also paid a tax rate double that of Google's.
The "price gouging" and "record profits" (as long as a company grows year to year, even if only at the rate of the wider economy, it will have record profits year after year by definition, assuming margins remain constant) rhetoric just proves these people are either lying or ignorant of basic finance and economics.