Tax The Rich

On  right: Senate democrats constructing an economic plan.

There is a great deal of preening and crowing by the useful-severly-challeneged these days about taxing the rich, like the oil companies. Yeah, those mean oil companies who kill baby seals.

I have recently pointed out the profit margin of these evil companies is low. Indeed, as you will see below, it is 6.2%.  This is not a bad return, but would you invest multiple billions of dollars to earn 6.2%, fight your government, fight other governments, and so on? You don't see me starting a major oil company, no matter how evil.

Before I drop in a piece from Seekingalpha.com that lists industry profit margins, let me show you how Hollywood does.  These are the proponents of the left and their profits are not questioned:

Rank	Symbol	Company	Gross Profit Margin	ProRating
1	RGC	Regal Entertainment Group	62.04%	Go Pro
2	LGF	Lions Gate Entertainment	51.60%	Go Pro
3	RLD	RealD	51.06%	Go Pro
4	NOOF	New Frontier Media	48.92%	Go Pro
5	RENT	Rentrak Corporation	44.21%	Go Pro
6	CNK	Cinemark	34.87%	Go Pro
7	DWA	Dreamworks Animation SKG	33.33%	Go Pro
8	CKEC	Carmike Cinemas	11.07%	Go Pro

Not bad.  In the old days, making a profit was a good thing.  Now, it is good only for the oligarchy behind the talking heads.

Below is part of Mark J. Perry's article for Seeking Alpha that has the first 114 industries ranked by net profit.  You can compare.

There, notice Periodicals, you know, like Time, Newsweek who report on taxing the rich, are number two, behind the fascists, at 51.%. Big Oil is 114, those bastards.  Who needs oil!  I hope the Democrats run all oil and coal companies out of existence.

Now, wait.  I don't see Hollywood even listed.  Nothing about studios, cinema, pornography, drek.  Isn't that something?  No one thinks of Hollywood as an industry, I guess. Oh, it could be Time Warner et al own the media so the profits are tucked in there.

I would recommend you send this blog to your Congressional representatives, local media, and all your friends. We are in boiling water and think it is a spa.

It is one thing for the useful-severly-challenged to repeat Marxist lines, but normal people have to see the truth if we are to survive as a nation, something that does not look promising. The media is part of the oligarchy so you will not hear a word from them.

Indeed, do not doubt that there are powerful forces well placed who want to collapse our nation.  Say, just saying, the president, the basketball player who is not a natural born citizen. They are doing a good job, but they do not see what will happen to most of them if they succeed.

I don't usually offer opinions here, but it is time to get active and vote according to principles (that is, if you believe in the Constiution).  There is no longer any room to vote for your party, then go shopping. I recommend, we vote in the primaries, they are the most important targets available for all us voters with right reason, a term I heard in the old days, in college, before our education system took a great leap forward.

Clearly, the Marxists are on the way out next election, but we do not want to put in more drones, conmen, and theives.  If we do not control the primaries, the old guard will be swept in and be able to hide stupidity and theivery behind the good feelings after the election.
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...As the table below shows, the Integrated Oil and Gas industry made an average profit of 6.2 cents per dollar of sales, which ranks #114 out of 215 industries by profit margin...If the Senate Finance Committee wants to investigate "excessive" or "windfall" profits, they might consider going after some of the other industries that have benefited from higher commodity prices and achieved much higher profit margins than oil (at 6.2%), like silver (44.7%), copper (24%), gold (21%), and industrial metals... 

Rank	Industry	Net Profit Margin
1	Closed-End Fund - Equity	81%
2	Publishing - Periodicals	51.7
3	Silver	44.7
4	Closed-End Fund - Foreign	38.3
5	REIT - Diversified	36
6	Copper	24
7	Internet Information Providers	23.8
8	Application Software	22.7
9	Foreign Utilities	20.5
10	Industrial Metals and Minerals	20.1
11	Gold	20.1
12	Cigarettes	19.8
13	Semiconductor - Broad Line	19.2
14	REIT - Healthcare Facilities	19.1
15	Lumber, Wood Production	17.7
16	Semiconductor - Integrated Circuits	17.6
17	Diversified Investments	17.5
18	Healthcare Information Services	16.6
19	Beverages - Brewers	16.5
20	Regional - Southwest Banks	16.4
21	Semiconductor- Memory Chips	16.1
22	Publishing - Books	16.1
23	Networking and Communication Devices	15.7
24	Drug Manufacturers - Major	15.4
25	Long Distance Carriers	15.2
26	Railroads	15
27	Beverages - Wineries and Distillers	14.9
28	Nonmetallic Mineral Mining	14.6
29	Beverages - Soft Drinks	14.3
30	Wireless Communications	14.1
31	Semiconductor Equipment and Materials	14.1
32	Personal Products	13.9
33	Personal Computers	13.9
34	Medical Instruments and Supplies	13.9
35	Drug Manufacturers - Other	13.6
36	Security Software and Services	13.2
37	Property and Casualty Insurance	13.2
38	Agricultural Chemicals	13
39	Specialty Chemicals	12.7
40	REIT - Residential	12.7
41	Biotechnology	12.7
42	Medical Appliances & Equipment	12.6
43	Technical and System Software	12.5
44	Mortgage Investment	12.5
45	Entertainment - Diversified	12.5
46	Air Services, Other	12.4
47	Diversified Electronics	11.9
48	Processed and Packaged Goods	11.5
49	Foreign Regional Banks	11.5
50	Water Utilities	10.9
51	Semiconductor - Specialized	10.5
52	Money Center Banks	10.5
53	Consumer Services	10.5
54	Broadcasting - TV	10.5
55	Regional - Midwest Banks	10.4
56	Toys and Games	10.1
57	Textile - Apparel Footwear	10.1
58	Restaurants	10
59	Investment Brokerage - National	10
60	Oil and Gas Drilling and Exploration	9.9
61	Paper and Paper Products	9.8
62	Foreign Money Center Banks	9.8
63	Regional - Northeast Banks	9.7
64	Business Software and Services	9.7
65	Synthetics	9.5
66	Scientific and Technical Instruments	9.5
67	Data Storage Devices	9.5
68	Internet Software and Services	9.4
69	CATV Systems	9.3
70	Specialty Eateries	9.2
71	Telecom Services - Domestic	9.1
72	Specialized Health Services	9
73	Diversified Computer Systems	9
74	Savings and Loans	8.9
75	Internet Service Providers	8.9
76	Conglomerates	8.8
77	Research Services	8.7
78	Diversified Machinery	8.7
79	Education and Training Services	8.4
80	Independent Oil and Gas	8.3
81	Industrial Equipment and Components	8.2
82	General Entertainment	8.2
83	Diversified Utilities	8.1
84	Asset Management	8.1
85	Accident and Health Insurance	8.1
86	Information and Delivery Services	8
87	Gas Utilities	8
88	Business Services	8
89	Telecom Services - Foreign	7.9
90	Oil and Gas Equipment and Services	7.9
91	Insurance Brokers	7.8
92	Cleaning Products	7.8
93	Steel and Iron	7.7
94	Drug Related Products	7.7
95	Home Furnishing Stores	7.6
96	Diagnostic Substances	7.6
97	Auto Parts Stores	7.3
98	Industrial Electrical Equipment	7.2
99	Waste Management	7
100	Confectioners	7
101	Aerospace/Defense - Major Diversified	7
102	Publishing - Newspapers	6.9
103	Jewelry Stores	6.9
104	Home Health Care	6.9
105	Computer Based Systems	6.9
106	Pollution & Treatment Controls	6.8
107	Lodging	6.8
108	Communication Equipment	6.7
109	Aerospace/Defense Products & Services	6.6
110	Sporting Activities	6.5
111	Packaging & Containers	6.5
112	Catalog & Mail Order Houses	6.5
113	Drugs - Generic	6.3
114	Major Integrated Oil and Gas	6.2

This article is tagged with: The Macro View, Commodities, Basic Materials, Major Integrated Oil & Gas

PS.  I told you to buy metals and REITs.  Now, buy coffee and, what the hell, cocoa.