IS no such thing as
Profit before Taxes
OME LEFT-WING LABOR LEADERS and bureaucrats
are telling you that business can pay wage
increases out of profits without raising prices. And
they quote the "profits" of the companies or indus·
tries they are talking about.
They do not tell you that the "profit" they quote
is before taxes are paid, and any beginning book
keeper knows that such a figure means nothing.
You might as well give a figure of "profits b...
530-There Is No Such Thing As Profit Before Taxes.pdf