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not to stir things up again--but to add perspective
like most peole when the number of zeros gets too high even my eyes glaze over-- so I often look for articles that give context and perspective, I thought this was interesting-- From the Dennis Gartman letter:
ON TAKING ON THE LEFT
REGARDING OIL COMPANY PROFITS:
The Left has relied upon the fact that ExxonMobil's profits
for the last quarter were the largest by any company in
history as a reason why a windfall profits tax is necessary.
The sheer size of XOM's profits do seem, on their face, to
be large, making it hard for those of us who are free
market capitalists to argue when the Left brings this up.
However, continuing with Mr. Tillerson's interview with
ABC News last evening, Tillerson took on the Left's
arguments and dashed them on the rocks. He said
"I saw someone characterize our profits the other
day in terms of $1,400 in profit per second. Well,
they also need to understand we paid $4,000 a
second in taxes, and we spent $15,000 a second
in cost...We spend $1 billion a day just running
our business. So this is a business where large
numbers are just characteristic of it."
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