CRAMER: Governor Romney, do you believe public companies have any social responsibility to create jobs, or do you believe, as Nobel Laureate Milton Friedman, the most important, most influential conservative economist of the 20th century held, that corporations should exist solely to create maximum profit for their shareholders?
ROMNEY: This is a wonderful philosophical debate. But you know what? We don't have to decide between the two, because they go together.
Our Democratic friends think when a corporation is profitable, that's a bad thing. I remember asking someone, "Where do you think profits go? When you hear that a company is profitable, where do you think it goes?" And they said, "Well, to pay the executives their big bonuses."
I said, "No, actually, none of it goes to pay the executives. Profit is what is left over after they have all been paid."
What happens with profit is that you can grow the business. You can expand it. You have working capital and you hire people.
The right thing for America is to have profitable enterprises that can hire people. I want to make American businesses successful and thrive.
What we have in Washington today is a president and an administration that doesn't like business, that somehow thinks they want jobs, but they don't like businesses. Look, I want to see our businesses thrive and grow and expand and be profitable. I want to see more --
Thursday, November 10, 2011
Cramer Asks a Stupid Question, Romney and Gingrich Provide Great Answers
Last night at the CNBC debate, Jim "Buy Bear Stearns" Cramer asked what I would call a very stupid question in his characteristically crazy manner (though honestly he seemed even more crazy last night, like he was hopped up on some Bolivian marching powder) about whether corporations had a responsibility to create jobs: