Tuesday, November 29, 2011
Corporate Profit At 50 Year High, Personal Income At 50 Year Low
Not only are corporate profits at a 50 year high, the corporate tax load is at a 50 year low, while personal income is at a 50 year low.
-These historic levels of corporate profit have not been seen since 1929. Remember how that worked out?-
It's no mystery why the middle class is hurting and the ranks of the poor are growing. The answer is simple mathematics. Decades of reverse Robin Hood economic policy will have that result every time.
Note that the steady decline in personal income began under Richard Nixon and has continued under all following Republican presidents with the steepest declines occurring under George W. Bush, Ronald Reagan and Richard Nixon. The only respite from this economic strangle-hold on the middle class and the poor was the 8 years of the Clinton administration.
As you examine the above graphs take note:
1.) 7 of the last 8 recessions occured when a Republican was in the White House and conservative economic policies were in place (see also "History of Recessions" http://bureaucountydems.blogspot.com/p/history-of-recessions.html )
2.) Job creation plummeted under Supply Side Economics
(see: http://bureaucountydems.blogspot.com/p/job-growth.html )
3.) The National Debt exploded under Republican economic policies
(see: http://bureaucountydems.blogspot.com/p/national-debt.html )