Monday, March 31, 2014

Last Call For All The Money

To recap, 2013 marked the fifth straight year of record US corporate profits.


But corporate taxes are too high and crushing business, and our economy is stalled out.  Or it could be that the rich are screwing us over at a record pace.  Corporate profits in the US have tripled since 2000.  Median real wage growth since 2000 for workers?  Flat, if not fallen. 

The American worker hasn't seen a dime from the these massive profits.  Now keep in mind that Republicans want to cut corporate taxes further to give corporations more profit.  They're not investing it in workers or wages or jobs, that's for damn sure.

So where's it going?


The top 1% account for about 40% of the wealth in this country, which is a terrible problem.  But that's misleading.  The bottom half of the top 1% account for only 7%.  The next 40% of that is about 11%.  But the top tenth of the one percent account for more than 21% of the wealth, and the top 1% of the one percent alone has 11% of the wealth of the entire US.  That share for the super-wealthy has doubled since 1998.

So the money is not going to anyone you know.  Not to your paycheck.  Certainly not to your schools or roads or water mains.  The rich are getting richer.  The rest of us are getting nothing.

But let's keep voting for Republicans who want to eliminate corporate taxes while telling us a rising tide floats all boats.  It floats yachts.  It drowns those who can't afford the damn boat.

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