Corporations are currently making more as a percentage of the economy than they ever have since such records were kept. But at the same time, wages as a percentage of the economy are at an all-time low...I'm sure that enormous wealth will start trickling down any minute now...
Corporations made a record $824 billion in profits last year as well, while the stock market has had one of its best performances since 1900 while Obama has been in office.
Meanwhile, workers are getting the short end of the stick. As CNN Money explained, "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."
Posted by Melissa McEwan at Monday, December 03, 2012
$1.75 trillion: US corporate earnings in the third quarter, up 18.6% from a year ago.