Standard and Poor's downgrades US to AA+

[jms62]

Originally Posted by joeydb

So they ALL, uniformly, showed "Unmitigated Greed"?

Or is it more likely, due to the uniformity of their action, that the conditions for making profit here in the United States was comprimised by unions and high labor rates, high taxes, excessive regulation, and the like?

Greed would be the pursuit of excessive profit, right? But stable and substantial profits at some level must be made if a company is to stay in business.

They moved the work to where it is profitable. It was that or go out of business.

Clueless.... How is that strategy of "Moving Work where it is profitable" working out for the economy now Joey? How is it working out for the housing recovery Joey? High Taxes Joey? Most pay NONE... Corporations have a duty to employ citizens of the country in which they operate.

[joeydb]

Originally Posted by jms62

Clueless....

How is that strategy of "Moving Work where it is profitable" working out for the economy now Joey?

If the company is still here, and wouldn't have been otherwise, I guess it worked for that company.

Originally Posted by jms62

How is it working out for the housing recovery Joey?

The housing bubble was started from the mandated lending to otherwise unqualified buyers, directed by the government through the Community Reinvestment Act.

Originally Posted by jms62

High Taxes Joey? Most pay NONE...

They must forward the taxes - now as far as them paying none, you're correct in that most companies will not take a hit on profit to pay a levied tax, so that means the price of the product would have to go up. If that company thinks that the new price to pay the new tax would be noncompetitive with, say, a company outside the country not having to pay the tax, they're going to move.

Originally Posted by jms62

Corporations have a duty to employ citizens of the country in which they operate.

No they don't. They have a duty to their shareholders and the customers buying their products.