The Era of Obama: Clorox Co. Loses Net Income to Taxes?

In a harbinger of profit statements to come, Clorox Co. — maker of numerous household cleaning products — reports that it’s net income was nearly flat despite a one percent rise in revenue.

The reason? Taxes.

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.

Warner Todd Huston

Warner Todd Huston is a Chicago-based freelance writer, has been writing opinion editorials and social criticism since early 2001 and is featured on many websites such as Andrew Breitbart's BigGovernment.com, BigJournalsim.com and all Breitbart News' other sites, RightWingNews.com, CanadaFreePress.com, and many, many others. Additionally, he has been a frequent guest on talk-radio programs across the country to discuss his opinion editorials and current events as well as appearing on TV networks such as CNN, Fox News, Fox Business Network, and various Chicago-based news programs. He has also written for several history magazines and appears in the book "Americans on Politics, Policy and Pop Culture" which can be purchased on amazon.com. He is also the owner and operator of PubliusForum.com. Feel free to contact him with any comments or questions : EMAIL Warner Todd Huston and follow him on Twitter, on Google Plus , and Facebook.

Leave a Comment

Share this!

Enjoy reading? Share it with your friends!

Send this to a friend