Corporate Profits Have Grown By 171 Percent Under Obama
Posted in the Minneapolis Forum
#1 Jan 18, 2013
Corporate Profits Have Grown By 171 Percent Under Obama -- Highest Rate Since 1900
Twice as high as the Reagan years.
January 17, 2013 |
Business executives like to portray the Obama administration as the most anti-business in history, creating an increasingly hostile environment for investment and job creation. However, the data tells a far different story. According to a Bloomberg News analysis, corporate profits have grown by 171 percent under Obama, the most in the post-war era:
U.S. corporations after-tax profits have grown by 171 percent under Obama, more than under any president since World War II, and are now at their highest level relative to the size of the economy since the government began keeping records in 1947, according to data compiled by Bloomberg.
Profits are more than twice as high as their peak during President Ronald Reagans administration and more than 50 percent greater than during the late-1990s Internet boom, measured by the size of the economy.
Average annual corporate profit growth under Obama is the highest since 1900, whereas profit growth declined during both Bush presidencies. As a share of the economy, corporate profits have never been higher.
Unfortunately, this profit deluge has not been shared by workers, whose wages as a percentage of the economy have fallen to all-time lows. Workers also got dinged by the recent increase in the payroll tax, which was large enough to wipe out a minimum wage increase in some states.
#2 Jan 19, 2013
Well, I don't mind stealin' bread
From the mouths of decadence -
But I can't feed on the powerless
When my cup's already over-filled....
#3 Jan 20, 2013
The economy is doing great if you are rich.
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