Jordan Candler / April 6, 2015

Profit Margins, Public Perception and Progressive Causes

The stigma plaguing today’s Republican Party on matters of economic policy is the result of a craftily orchestrated attack on capitalism. By associating the entrepreneurial free market with “corporate greed,” the Left frames conservatives as being against middle class America. It’s a strategy that has a long record of success. Recall that in 2009, Democrats approved another massive entitlement program – ObamaCare – in part by rallying behind a false narrative: that millions of Americans were uninsured because “selfish” insurers were swimming in massive profits. In truth, insurers were operating on a 2% profit margin. Democrats knew their PR stunt was a lie, but they successfully swayed public perception at a pivotal moment. Indeed, every progressive cause has traces of gross distortion, and, similar to how leftists overhauled the health care industry, they’re fabricating the war on corporate America. The American Enterprise Institute’s Mark J. Perry writes, “When a random sample of American adults were asked the question ‘Just a rough guess, what percent profit on each dollar of sales do you think the average company makes after taxes?’ for the Reason-Rupe poll in May 2013, the average response was 36%!” The reality? Memo to Occupy Wall Street: “Not surprisingly they are off by a huge margin,” Perry notes. “According to [a] Yahoo!Finance database for 212 different industries, the average profit margin for the most recent quarter was 7.5% and the median profit margin was 6.5%.” If this teaches us anything, it’s that Republicans must dismantle the Left’s big lies. The propaganda machine is not conquered by twiddling thumbs. More…

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