Monday, March 4, 2013

Corporate profits way up. Wages way down. Remind me again why closing corporate tax loopholes is a bad idea?

"Although experts estimate that sequestration could cost the country about 700,000 jobs, Wall Street does not expect the cuts to substantially reduce corporate profits." 

As a percentage of national income, corporate profits stood at the largest share at any time since 1950, while the portion of income that went to employees was near its lowest point since 1966."

"Four days after United Technologies shares soared to a record high last month, the company confirmed it would eliminate an additional 3,000 workers this year, on top of 4,000 let go in 2012 as part a broader restructuring effort."

March 3, 2013