Friday, February 09, 2007

Take Take it yours?

Here's a brief excerpt from an article by Larry Kudlow in the National Review. Click on title above to read the full article. I think the statement below pretty much speaks for itself while Hillary definitely speaks for the Democratic party. I do also believe it's the Democrats in Congress that regularly vote to expand eminent domain powers of the government. Take money from private corporations, take land from private citizens...

At the winter meeting of the Democratic National Committee, the senator from New York said, “The oil companies reported the highest profits in the history of the world. I want to take those profits and I want to put them in an alternative energy fund.”

Take? Isn’t that a confiscation of private property? Author P.J. O’Rourke framed it perfectly on a recent edition of CNBC’s Kudlow & Co.: She’s “Hugo Chavez in a pants suit.”

And what exactly would Mrs. Clinton be taking? ExxonMobil’s profits are outsized, but they come on sales of $377.5 billion, making for a profit margin of just over 10 cents on the dollar. This remains well below the profit margins of many industries, including banking and biotech where the margins nearly double those in the energy sector. The numbers are big, but the returns are middling.

Larry was a speaker at our club and is CEO of Kudlow & Company, an economic research and consulting firm. He is also host of his own show on CNBC “Kudlow & Company".

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