- Corporate profits in the U.S. have recently hit an all-time high. This comes just after the worst recession since the Great Depression and in the midst of several years’ worth of sluggish growth for the overall economy. Even with the last three U.S. recessions, corporate profit margins have been in a fantastic uptrend since the early 1980s.
- Wages in the U.S. are at a historic low as a percentage of the overall economy. Wages in the U.S. have been on a downtrend since 1970. Compared to the parabolic rise in corporate profits since the end of the Great Recession, wages have continued to slide.
A common throw away line from conservatives in the fiscal cliff debate is that progressives or Democrats are “waging class warfare.” The trash is truly where that line belongs. The fact is that aside from a few years during the Clinton era in Washington, the economic game has been more than rigged for special interests and corporations at the expense of working Americans. There are many facts to illustrate this, here are just two: