Tue Dec 4, 2012, 08:08 AM
xchrom (97,474 posts)
corporate profits hit record high while worker wages hit record low
A constant conservative charge against President Obama is that he is inherently anti-business. However, businesses keep defying the storyline by making larger and larger profits, rebounding nicely out of the Great Recession.
In the third quarter of this year, “corporate earnings were $1.75 trillion, up 18.6% from a year ago.” Corporations are currently making more as a percentage of the economy than they ever have since such records were kept. But at the same time, wages as a percentage of the economy are at an all-time low, as this chart shows. (The red line is corporate profits; the blue line is private sector wages.):
Corporations made a record $824 billion in profits last year as well, while the stock market has had one of its best performances since 1900 while Obama has been in office.
Meanwhile, workers are getting the short end of the stick. As CNN Money explained, “a separate government reading shows that total wages have now fallen to a record low of 43.5% of GDP. Until 1975, wages almost always accounted for at least half of GDP, and had been as high as 49% as recently as early 2001.”
La Lioness said I'm Princess Spice. So there.
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Response to xchrom (Original post)
Tue Dec 4, 2012, 11:03 AM
bighart (1,271 posts)
2. So the natural question this raises in my mind is
What are we the people, we the population, we the source of the corporate profit both in our labor for them and in the dollars that we spend that generate these profits going to DO about this?
What is it going to take for Americans in mass to say ENOUGH is ENOUGH and force change to the system?
We, myself included, feel we should speak up about this issue, along with an almost complete lack of representation by those we elect to be our voice, but the time is fast approaching that we will have to DO something and not just say something to make real change occur.