Corporate profits are highest-ever of GDP, while wages are lowest-ever

Posted in the Minneapolis Forum

Bob Schmahl

Saint Paul, MN

#1 Dec 4, 2012
Corporate profits are highest-ever share of GDP, while wages are lowest-ever

Corporations are doing well. Workers, not so much. That could be the opening of just about any discussion of the American economy at least over the past couple years since corporations recovered from the great recession while workers didn't. But that's because there are always new specifics coming out to illustrate the point. Like this: after-tax corporate profits were a record share of the gross domestic product in the third quarter of 2012. Wages were the smallest share of GDP they've ever been.

Profits accounted for 11.1% of the U.S. economy last quarter, compared with an average of 8% during the previous economic expansion. They fell as low as 4.6% of GDP during the recession.[...]

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.

Once again, the 1970s are the tipping point where the balance of power shifts decisively toward business and away from working people. This is not, as corporate mouthpieces would have us believe, because of an inevitable force of history, but because corporations decided to exert power to make it this way. And it's causing people to suffer. It's devaluing work. It's devaluing the human beings who do the work. But hey, profit!
Consistent

Grantsburg, WI

#2 Dec 4, 2012
Thank you Messiah!

His Handlers will keep up the Corporate Cronyism for another 4 years!

Thanks a lot Demokrats for Re Erecting Corporate Amerika's favorite President in about 80 years!

It is almost criminal how Barry Soretto is so deeply embedded with the Corporate Pigs that "Keep the working man down". What will America look like when Barry's handlers have had 8 years to rob America blind?

Thanks a lot Demokrats!
non-starter

Saint Paul, MN

#3 Dec 4, 2012
Bob Schmahl wrote:
Corporate profits are highest-ever share of GDP, while wages are lowest-ever
Corporations are doing well. Workers, not so much. That could be the opening of just about any discussion of the American economy at least over the past couple years since corporations recovered from the great recession while workers didn't. But that's because there are always new specifics coming out to illustrate the point. Like this: after-tax corporate profits were a record share of the gross domestic product in the third quarter of 2012. Wages were the smallest share of GDP they've ever been.
Profits accounted for 11.1% of the U.S. economy last quarter, compared with an average of 8% during the previous economic expansion. They fell as low as 4.6% of GDP during the recession.[...]
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.
Once again, the 1970s are the tipping point where the balance of power shifts decisively toward business and away from working people. This is not, as corporate mouthpieces would have us believe, because of an inevitable force of history, but because corporations decided to exert power to make it this way. And it's causing people to suffer. It's devaluing work. It's devaluing the human beings who do the work. But hey, profit!
I have the solution, start your own company and pay the people any way you want to. I am sure people will line up at your McDonalds and pay $10 for a Big Mac and $5 for a coke once they know that your prices are more than double so you can pay a "living wage" to your college trained fast food force. By golly, that guy flipping burgers deserves $60k a year. Cash in your 401k and start now.
Amused Slew

Seattle, WA

#4 Dec 4, 2012
God helps those that help themselves.

Join a union and help yourself and your co-workers !!!
non-starter

Saint Paul, MN

#5 Dec 4, 2012
Amused Slew wrote:
God helps those that help themselves.
Join a union and help yourself and your co-workers !!!
Help yourselves out of a job after you bankrupt the company, and don't let the door hit you in the backside on the way out.
Consistent

Grantsburg, WI

#6 Dec 4, 2012
Amused Slew wrote:
God helps those that help themselves.
Join a union and help yourself and your co-workers !!!
Fauching Weetawd.
Amused Slew

Seattle, WA

#7 Dec 4, 2012
Yeah, we see you drunken fool... Again, I'm sure glad the family is gone, to save them the embarrassment/shame... Too bad the residue is YOU~! LMAOROTFU~!

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