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 )

source material: http://andrewsullivan.thedailybeast.com/2011/11/the-era-of-corporate-profit.html

A Chart That Debunks The Lie That The Upper 1% Are Paying More In Taxes Than Ever Before

The Upper 1% are NOT paying a higher percentage of their income in taxes no matter how many times the Right Wingers say they are. Their income has sky-rocketed while working people's incomes have plummeted however the percentage of income paid in taxes by the upper 1% has shrank by 10% since 1986.

read full article:
http://www.washingtonpost.com/blogs/plum-line/post/debunking-the-conservative-argument-about-the-rich-and-taxes-in-three-easy-charts/2011/11/21/gIQA366GiN_blog.html

http://www.washingtonpost.com/rf/image_606w/WashingtonPost/Content/Blogs/plum-line/Images/inequality1.jpg

Tax Calculator for President Obama's "American Jobs Act." -you will be very unhappy if Congress does not act-

Hit on the link below to see how much more you will be paying if the Republican leadership in Congress does not pass President Obama's, "America's Job Act."

http://www.whitehouse.gov/economy/jobsact/calculator

Illinois Posts Greatest Job Gains In the Nation, Wisconsin? Biggest decrease.

Unemployment rates fell in 36 states in October and rose in only 5, the Labor Department said Tuesday.

Illinois added 30,000 jobs, the most among states. ...
Wisconsin reported the biggest job loss, a drop of 9,700.

Hey Wisconsin, "How's that Walker thingy workin' for ya?"

http://www.huffingtonpost.com/2011/11/22/state-unemployment-rates-october-2011_n_1107807.html

Post Script: 4/2/2012
MADISON, Wis
When job losses are accounted for, the state (WI) has added just 8,100 private sector jobs through February compared with before Walker took office in January 2011. Private sector job gains for January were revised downward this month by 1,900. Figures for February are preliminary.

The report showed that the state also added an estimated 4,300 government jobs for the month, with almost all of them coming from state government.

source: http://www.cbsnews.com/8301-505245_162-57402691/wis-adds-jobs-in-february-unemployment-steady/Wis. adds jobs in February, unemployment steady - CBS News
www.cbsnews.com
Wis. adds jobs in February, unemployment steady..a few seconds ago · LikeUnlike ·

President Obama's Re-election Fund Raising Exceeds 2008 Results

Do not believe the false narative that small donors have abandoned President Obama. More than 606,000 people gave between July and September, exceeding a number that was a record-breaking 552,000 donors in the second fundraising quarter and reflects more than 257,000 first-time donors, according to campaign records. In another milestone, in mid-October, Obama hit 1 million donors.

Inspite of the effects of the atrocious Supreme Court "Citizens United" decision to allow unlimited, unsourced, untraceable, unaccountable corporate money into the political campaign the Presidnet has hit on the 99% solution. While the rich have the cash we have the votes. When people invest themselves in a campaign , they are far likelier to vote.

Wall Street may have thrown their finacial support to their protectors in the Republican Party, but the People are throwing our support to the person that is protecting us from Wall Street.

Do Nothing To Solve The Deficit Problem, -finally a job the Republican Congress is capable of-

The do-nothing plan: now worth $7.1 trillion
Posted by Ezra Klein
11/18/2011

In the past, I’ve talked about the “do-nothing plan” for deficit reduction: Congress heads home to spend more time with their campaign contributors, and the Bush tax cuts automatically expire, the 1997 Balanced Budget Act’s scheduled Medicare cuts kick in, the Affordable Care Act is implemented, and the budget moves roughly into balance. It’s not an ideal way to balance the budget, but it helps clarify that the deficit is the result of votes Congress expects to cast over the next few years. If, instead of casting those votes, they do nothing, or pay for the things they choose to do, the deficit mostly disappears.

The last few years have added new elements to the do-nothing plan: the trigger, for instance, and various temporary tax cuts Congress has been extending. James Horney of the Center on Budget and Policy Priorities ran the numbers for my colleague E. J. Dionne, and he says the do-nothing plan would now lead to $7.1 trillion in deficit reduction — more than even the Fiscal Commission envisioned. Here’s how it breaks down:

— $3.3 trillion from letting temporary income and estate tax cuts enacted in 2001, 2003, 2009, and 2010 expire on schedule at the end of 2012 (presuming Congress also lets relief from the Alternative Minimum Tax expire, as noted below);
— $0.8 trillion from allowing other temporary tax cuts (the “extenders” that Congress has regularly extended on a “temporary” basis) expire on schedule;
— $0.3 trillion from letting cuts in Medicare physician reimbursements scheduled under current law (required under the Medicare Sustainable Growth Rate formula enacted in 1997, but which have been postponed since 2003) take effect;
— $0.7 trillion from letting the temporary increase in the exemption amount under the Alternative Minimum Tax expire, thereby returning the exemption to the level in effect in 2001;
— $1.2 trillion from letting the sequestration of spending required if the Joint Committee does not produce $1.2 trillion in deficit reduction take effect; and
— $0.9 trillion in lower interest payments on the debt as a result of the deficit reduction achieved from not extending these current policies.

Put another way, all we need to do to solve our deficit problem — or, more accurately, avoid creating one — is to enforce PAYGO rules in Congress.
source article:
http://www.washingtonpost.com/blogs/ezra-klein/post/the-do-nothing-plan-now-worth-71-trillion/2011/08/25/gIQAmfIIYN_blog.html

TEA PARTY PIGGERY, -hypocrites at the slop pile-

Many of us, as we watched grow, the astroturfed Tea Party claiming to be grass roots inspired while it was funded by Dick Armey's (R) TX "FreedomWorks" and other Republican fat cats like the Koch brothers, were struck with an equal amount of amusement and disgust. Indeed there are many within the movement that are "true believers," but we saw the organization for what it was and is: another political wing of the party that brought us $9.2 trillion in national debt.
This movement has been in power in the House of Representatives for 10 month's. Their growing record is confirming what we knew all along. Check out these Tea Party Pork Barrel examples of fiscal hypocrisy:
Eric Cantor (R) VA:
The eternally smug and shrill critic of President Obama, famously called a high speed rail proposal from Disneyland to Las Vegas, wastefull "pork barrel spending." Yet he simultaneously wrote letters asking for nearly $3 billion for a similar project in Virginia. And now that people are beginning to take notice, Cantor has flip-flopped and is running away from the project as fast as he can.
Cantor also wrote letters asking for $60 million to build ships in his home state. An unrelenting critic of HUD Cantor, until last year, held $50,000.00 in preferred stock from a company that received funds from the very department he excoriated when the camera's were on.
John Boehner (R) OH and Darell Issa (R) CA
The vociferous critics of President Obama's efforts to support clean energy and American made solar panels, sung a different tune when both requested funds for similar projects in their home states. Boehner requesting funds for a uranium project and Issa rooting in the Federal tough for funds for an electric car corporation.
Rick Perry (R) TX
The tongue tied Texan made 1,180 requests for federal aid since 2001, according to an Associated Press study. That's a rate of one every four days.
Fred Upton (R) MI
Wrote 10 letters asking for $250 million to support clean energy job creation in Michigan in spite of ridiculing President Obama's clean energy initiative.
Ron Paul (R) TX
An unrelenting critic of government spending wrote 3 letters asking for $150 million for a high speed rail project in Texas.
Michele Bachman(R) MN
The fact challenged founder of the Tea Party Caucus begged $750,000.00 to promote business at a small airport in St Cloud Minnesota.
David Vitter (R) LA
The Senator that gained national attention for his patronage of the Washington DC's and New Orlean's Canal Street brothel's, rallied on the steps of the Capitol against President Obama's stimulus package. Two months later he was requesting funding to boost an activated carbon power plant in Red River Parish, Louisianna.
Marlin Stunzman (R) IN
Came to Washington in 2010 to limit government received $4,061.00 in farm subsidies in that same year and has raked in $183,431.00 from the Dept. of Agriculture since 1997.
Alan West (R) SC
The fire breathing small government legislator, less than 10 months in office, has written at least four letters begging money from the federal government for various projects such as a pedestrian walkway in his home district.
Judson Phillips, founder of Tea Party Nation," when confronted with these facts characterized them as, "...pretty disturbing." From our point of view it's actually pretty predictable.

source:"Newsweek," Nov. 7th & 14th, 2011
Associated Press

The chart below highlights the ultimate hypocrisy of Red State America. While these state's elected leaders are often the most out spoken critics of federal programs they are at the same time standing at the front of the line with both hands out.

Red State America Is Sucking Blue State America Dry

a href="http://a5.sphotos.ak.fbcdn.net/hphotos-ak-ash4/304243_2045182126777_1161114272_31929436_1727386_n.jpg"

Since the advent of Reagonomics and Supply Side Economics things have went poorly for the Middle Class. The Rich? Woo Hoo!

Tax give-aways to the rich, deregulation, union busting, Republican policies promised increased jobs, increased revenues and increased prosperity. The record: $9.2 trillion in debt, the greatest income disparity in history, 4 recessions, and a decade of zero job growth.

The 99% are not mad that the 1% prospered. We are mad that many of them cheated to gain their obscene wealth by corrupting the system with their hoards of cash to influence the political process to favor themselves over everyone else.

This income disparity is the end result of Supply Side economics. And we, the 99%, are all the poorer for it. Allowed to continue, we will be the first generation in American history to leave a lower standard of living to our children and grandchildren.