View Full Version : historically unprecedented.

06-30-2011, 11:52 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"><span style='font-size: 14pt'>Since 2009, 88 Percent Of Income Growth Went To Corporate Profits, Just One Percent Went To Wages</span>

By Guest Blogger on Jun 30, 2011 at 3:15 pm

After the longest recession since WWII, many Americans are still struggling while S&P 500 corporations are sitting on $800 billion in cash and making massive profits. Now, economists from Northeastern University have released a study that finds our sluggish economic recovery has almost solely benefited corporations. According to the study:

“Between the second quarter of 2009 and the fourth quarter of 2010, real national income in the U.S. increased by $528 billion. Pre-tax corporate profits by themselves had increased by $464 billion while aggregate real wages and salaries rose by only $7 billion or only .1%. <span style='font-size: 14pt'>Over this six quarter period, corporate profits captured 88% of the growth in real national income while aggregate wages and salaries accounted for only slightly more than 1% of the growth in real national income. </span>…<u>The absence of any positive share of national income growth due to wages and salaries received by American workers during the current economic recovery is historically unprecedented.</u>”

The New York Times adds, “According to the Bureau of Labor Statistics, average <u>real hourly earnings for all employees actually declined </u>by 1.1 percent from June 2009, when the recovery began, to May 2011, the month for which the most recent earnings numbers are available.”

So as average wages fall, and nearly 14 million people remain unemployed, America’s economic recovery has almost entirely benefited corporations. This development adds another chapter to the decline of the middle class, whose incomes are shrinking and wages are stagnating. <span style='font-size: 14pt'>Last year, top executives’ salaries increased 27 percent, while workers’ salaries increased only 2 percent. </span>At the moment, <u>income inequality in America is the worst it’s been since the 1920s</u>, as the richest 1 percent make nearly 25 percent of the country’s income.

–Sean Savett

link (http://thinkprogress.org/economy/2011/06/30/258388/corporate-profits-recovery/)


07-01-2011, 02:50 AM
Now explain how this isn't the fault of Obama and the democrooks.

They are beholden to the banksters and the UAW and shoveled hundreds of billions of US dollars to them .... which is the source of much of this "PROFIT" ... while saddling the children of the working class with the debt to repay it.

07-01-2011, 03:16 AM
I stated a fact. I didn't assign any blame.

Tell me again how CEOs need a tax break.


07-01-2011, 05:24 AM
I didn't ask you to assign blame. I asked how you could deny the current regime's complicity. Obviously ... you can't.

Gayle in MD
07-01-2011, 07:07 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">I stated a fact. I didn't assign any blame.

Tell me again how CEOs need a tax break.

Q </div></div>

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> I stated a fact.</div></div>

That was your mistake, LOL. No facts allowed. /forums/images/%%GRAEMLIN_URL%%/grin.gif

07-01-2011, 09:16 AM
So how do you excuse dear leader and the democrooks?