do you hate capitalism?

Friday afternoon I was at the Barack Obama rally in the Bank Atlantic Center in Sunrise, FL. To my right hand side, I had some friends from work, a libertarian, a conservative, and a democrat. My friend next to me, the libertarian, repeated something I've heard a lot over the years. When he heard Obama tear into the oil companies over skyrocketing profits and rising prices at the pump, he chuckled, "can't a company make a dollar these days? people just hate capitalism".

I can almost guarantee you wouldn't hear that kind of thing from someone poorer than us, but it's the kind of principled economic stance that you hear from a lot of people that stray further to the right of the political spectrum. I hear it a lot, how can you be mad at a company that is successful? How can you admonish them for doing well? It's not that surprising to hear that though, we're as single person households, in I would estimate the 90th percentile of income in the United States, if not higher. We are successful, we work hard, and nobody should penalize us for making a dollar. That's why, at least I think, I hear a lot of complaints about taxes and tirades of "liberals being against capitalism". Full disclosure, I own ExxonMobil stock and I have since I was 14 (it's not like I don't like to make money).

Unfortunately, cases like Exxon Mobil are different. Their profit is huge. It's not the fact that they make money that bothers me, it's that the way they take care of their business partners, whether they are the land owners, station owners, surrounding community, etc. Taking care of anyone that is not Exxon Mobil is something to be desired.

During Obama's speech, Obama spoke of how Americans need to band together, especially in difficult times; a new age of nationalism and community. During a time when rising gas prices are on the forefront of the American consciousness, what are companies like ExxonMobil doing? Joining forces with the consumer to get through a rough patch? More like diving into a Scrooge McDuck style money pool. Investment into alternative energy? Not really. Directing their millions of lobbying dollars towards something consumer friendly? You're dreaming. Do people like me hate capitalism? No, but it's a little infuriating when normal people can't even make a living selling Exxon Mobil's gas at the gas station. I can tell you where Exxon's 2007 $40 billion profit didn't go.

http://www.washingtonpost.com/wp-dyn/content/article/2008/05/24/AR2008052401961.html