"I do not underestimate the ability of fanatical groups of terrorists to kill and destroy, but they do not threaten the life of the nation. Whether we would survive Hitler hung in the balance, but there is no doubt that we shall survive al-Qa'ida." -- Lord Hoffmann
Who do people imagine are the largest investors in America? It's Pension and Mutual Funds.
Secondly, it took (depending on the current stock price) a hundred or two hundred billion dollars in capital to earn that money. Risk capital, I might add.
It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
"Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911
Royal Dutch Shell Plc (RDSa.L)...full-year profits to $31.4 billion, a record for a European company and up from $27.6 billion in 2007.
Shell Q4 profits fall, but will raise Q1 dividend | Reuters
BP and Royal Dutch Shell, Europe's largest oil companies, delivered record profits for the first quarter of 2008. Anglo-Dutch firm Shell netted $7.78 billion in the first three months of this year, up 12% over the same period in 2007. Profits at rival BP, meanwhile, swelled by almost half to $6.59 billion.
BP and Shell Downplay Record Profits - TIME
On a side note...
Oh my, that has to be a conservatives nightmare, a company making record profits with union membership...The United Steelworkers union on Tuesday said it reached a tentative agreement with a unit of Royal Dutch Shell, a move that averts a possible strike at facilities that handle the bulk of the U.S.'s crude oil refining capacity.
Refinery workers settle contract dispute with oil majors - MarketWatch
Oil/chemical workers make comparable wages and benefits as autoworkers.
“I’m worried that I will be the last Republican president.” - George W. Bush
Good for Exxon. You don't like their profit, don't shop/buy gas from Exxon.
there is a SIMPLE solution to your outrage.
They made $45 billion in profit. That doesn't tell us much. What was their profit margin? Would you be outraged if you knew it was about 10 percent? The biggest corporation earns the most profits. Imagine that!
Microsoft earns about 35 percent profit. There is nothing particularly profitable about selling gas.
I'm glad somebody is making money for all the retirees who invested.
3 months from now there will be more articles about Exxon reporting a record profit, and then 3 months after that.