Democrats: Let's ban profits!

[-:Undertaker:-]

Posing as an anti-business crusader, Peter Schiff found a number of DNC attendees that support explicitly outlawing profitability.

Okay, well i'm not on the Republican or Democrat side (as they're both heads of the same monster) but here's a gem that has just been posted from the Democratic National Convention which is taking place right now. Peter Schiff, one of my favourite libertarian economists, poses and basically trolls the convention and puts across the arguments you usually hear on the left... to the left - and look how easily (and stupidly) they lap it up. But you know, you can easily dismiss these people as being normal people with clouded vision and no economic understanding, but it's actually rather scary - because if my memory serves me rightly, David Miliband floated something like this last year as a potential future policy for a British government.

A potential ban on profits or a cap on profits, you might as well flush your economy down the toilet.

Thoughts?

[JerseySafety]

What the hell, that'll just ruin the economy even more. Nothing wrong with profits really. This is crazy.

[Undesirable]

I have never heard anything so ridiculious. The only people that should cap any profits are the petro chemical and electricity/gas companies. They post profits of excess and do nothing to help struggling families - they just keep increasing prices... these should be the only companies who suffer.

[Grig]

The best phrase "I will support anything my President (Obama) wants to do, anything"

Oh god, some people.


I also loved the irony of the last phrase "You happen to be one of the smartest people that I've met whilst I've been down here". It's ironic because he is a smart guy undercover asking about a ridiculous proposition.

[GommeInc]

if my memory serves me rightly, David Miliband floated something like this last year as a potential future policy for a British government.

I have a vague recollection of him saying something like that too. His latest proposal seems to be a "head-in-the-cloud" proposition, too:

http://www.bbc.co.uk/news/uk-politics-19503451

In theory it's a nice idea to instead of tax people heavily, just ask businesses to increase their wages - but that's assuming businesses have the resources and funds to support higher waged low-level employees. Technically, if such a proposal went through, businesses would just hire less workers which is what they have been doing for years now since computers and technology are making things easier.

[Niall!]

That is friggin hilarious and frightening at the same time. Why are people so ******* stupid?

[Invent]

Funny/scary video but obviously not a realistic view of the Democratic party - just a few handpicked idiots.

[The Don]

What's the point of starting up a business if the profits will be capped? A great way to destroy the economy