In case you need more confirmation that the US economy is out of balance, here are three charts for you.
1) Corporate profit margins just hit another all-time high. Companies are making more per dollar of sales than they ever have before. (And some people are still saying that companies are suffering from “too much regulation” and “too many taxes.” Maybe little companies are, but big ones certainly aren’t. What they’re suffering from is a myopic obsession with short-term profits at the expense of long-term value creation).
2) Wages as a percent of the economy just hit another all-time low. Why are corporate profits so high? One reason is that companies are paying employees less than they ever have as a share of GDP. And that, in turn, is one reason the economy is so weak: Those “wages” are represent spending power for consumers. And consumer spending is “revenue” for other companies. So the profit obsession is actually starving the rest of the economy of revenue growth.
3) Fewer Americans are working than at any time in the past three decades. The other reason corporations are so profitable is that they don’t employ as many Americans as they used to. As a result, the employment-to-population ratio has collapsed. We’re back at 1980s levels now.
In short, our current obsessed-with-profits philosophy is creating a country of a few million overlords and 300+ million serfs.
So, what about those trickle down economics folks?
This also brings me to something else - you ever notice how the right has done everything they can to paint the president as a socialist and/or left wing radical while business keeps thriving and making record profits?
Or how about the people who keep defending keeping taxes low on corporations, or who keep defending them in regards to the wages they pay their workers?
Profits are at a record high, taxes are pretty low, and meanwhile unemployment stays high and wages are now at a historic low. If all the bullshit the right has been spewing was true, then we’d be swimming in high paying jobs right now.
But we’re not.
Dynamic Duo - 사선에서 (In the Line of Fire)
Georgia GOP chairwoman: We can’t allow gay marriage because then people would get gay married for government benefits
So what… what exactly is stopping people from doing this with a friend of the opposite gender? Oh right NOTHING. (And as the article points out, the incidence of that happening is pretty low.) I mean, read her whole quote. “Government benefits… abuse of government money… HUSBAND AND WIFE SHOULD BE MAN AND WOMAN… uh, people just want a free ride.” She knows her argument is bullshit. Anyone arguing against same-sex marriage because they think the gays will get some kind of advantage over straight people, deep down, they know it’s bullshit. It’s homophobia masked as “well I just care about government spending!!!11” No. You’re a bigot. Stick to your bigoted arguments, plz.
Evanescence l Taking Over Me