By Warner Todd Huston ——Bio and Archives--August 4, 2010
American Politics, News | CFP Comments | Reader Friendly | Subscribe | Email Us
Clorox Co. says its fourth-quarter net income was nearly flat, even though its revenue rose one percent, because it paid higher taxes and had smaller margins.The laundry giant said that it earned $171 million in the last three months and had revenue of $1.52 billion last quarter. Clorox also reports that it expects to earn enough to keep in line with estimates. So, sales have not been hurt by this recession for Clorox Co., at least. That is a good thing. But that its tax burden went up so much as to flatten its net income is unconscionable. Businesses are in business to make money not forever break even. Breaking even is no incentive to push for higher achievement and invites sloth and eventual disinterest. Without innovation and a return on the effort our economy will stagnate even further. As that happens tax receipts fall. Obama is playing a dangerous game with our economy, folks. It's one we are all bound to lose.
View Comments
Warner Todd Huston’s thoughtful commentary, sometimes irreverent often historically based, is featured on many websites such as Breitbart.com, among many, many others. He has also written for several history magazines, has appeared on numerous TV and radio shows.
He is also the owner and operator of Publius’ Forum.