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Tue Dec 18, 2012, 08:13 AM

5 ways the Free Market is doing a good job. on us.

http://www.nationofchange.org/five-ways-free-market-doing-good-job-us-1355759472

***SNIP

1. It's making record-high profits while paying record-low taxes.

While corporate profits have doubled to $1.9 trillion in less than ten years, the corporate income tax rate, which for twenty years averaged around 22.5 percent, suddenly dropped to 10 percent after the recession and has remained there ever since.

2. It's making those profits with less real work.

The financial industry accounted for 10 percent of all corporate profits in the 1960s, 16 percent in 1980. But before the 2008 recession, the financial industry made up anywhere from 35 to 45 percent of corporate profits.

***SNIP

3. It's eliminating the pesky working class.

Productivity has risen steadily in the U.S., but because of outsourcing, improved technologies, and monopolistic practices, the average worker has not benefited from the growth. The median earnings of full-time male workers, adjusted for inflation, have remained at about $48,000 since 1979. The Economic Policy Institute's State of Working America reports an income DECLINE for 90 percent of America between 1979 and 2008.

***SNIP

4. It's taking a big chunk of money from the people who remain in the working class.

A New York Times investigation found that states, counties and cities are giving companies over $80 billion a year in incentives. These include cash grants, sales tax breaks, property tax allowances, and income tax credits.

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Reply 5 ways the Free Market is doing a good job. on us. (Original post)
xchrom Dec 2012 OP
geckosfeet Dec 2012 #1

Response to xchrom (Original post)

Tue Dec 18, 2012, 08:21 AM

1. Unemployment remains stubbornly high while corporate profits are at all time highs.

So much for lower corporate and capital gains taxes stimulating job growth. Businesses are sitting on their pile'o cash, and/or handing it out to ceo's.

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