Corporate Profits Hit All-Time High
Posted in the Johnson City Forum
#1 Dec 5, 2012
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. 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."
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