As I noted last week, media pundits like Sam Donaldson simply cannot understand why polls show the public is so down on the economic direction of our country. These commentators - who are supposed to reflect the true pulse of America - look at today's Wall Street Journal headline blaring that "Corporate Pretax Profits Jump 14.4% - Strongest Gain Since 1992" and wonder: why, oh dear god why, aren't ordinary Americans aren't jumping with joy?
The answer, as I note in my upcoming book Hostile Takeover, is simple: if you take the five seconds it takes to actually look at the underlying data, you see that those profits aren't actually benefitting ordinary workers - they are increasingly benefitting only those at the very top of the economic ladder.
"American government is the entertainment division of the Military Industrial Complex."
"One deluded president plus an army of paralyzed editorialists = many more years of a war that is one big atrocity." - Greg Mitchell, Editor&Publisher "I trust God speaks through me. Without that, I couldn’t do my job." - George W. Bush
4.01.2006
Record Profits for Some But Workers' Share Hits 40-Year Low
Posted by the ever-vigilant David Sirota who has a book- Hostile Takeover - coming out soon:
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