3 ms·
> Profit as the excess retained by or on behalf of capital owners > capital owners There it is, the "not when we do it" qualification. Just as I suspected, v
by mcpackieh 3y ago
> Profit as the excess retained by or on behalf of capital owners
> capital owners
There it is, the "not when we do it" qualification. Just as I suspected, very predictable. Profit is when you're bringing in more money than you're spending. Whether you are labor or a "capital owner", profit is profit. When an animal gets more calories from their food than they spent to get it, even that is profit.
Here's wiktionary's definitions:
> (accounting, economics) Total income or cash flow minus expenditures. The money or other benefit a non-governmental organization or individual receives in exchange for products and services sold at an advertised price.
There's no "capital owners" qualification in this or any other common definition: https://dictionary.cambridge.org/dictionary/english/profit https://dictionary.cambridge.org/dictionary/english/profit https://www.merriam-webster.com/dictionary/profit https://www.merriam-webster.com/dictionary/profit
- erik_seaberg 3y agoAren’t wages typically taxed differently than revenue or profits?
- mcpackieh 3y agoIf a worker's wages exceed his expenditures (housing, commute, food, bills, etc), then he's profiting. The tax code doesn't own the word.