Profits Up, Jobs Down, Inequality Gap Widens

There have been a couple of articles pertaining to corporate profits published lately that I have enjoyed reading and have found to be very informative. Both have pointed out the rising profits of corporation, the declining income of American workers and the middle class, and the rapidly widening inequality gap between corporate and corporate elite profit makers and the working class and shrinking middle class in America.

The first article is entitled “Recovery in U.S. Is Lifting Profits, but Not Adding Jobs”. The article was published in the New York Times on March 3, 2013.

“With the Dow Jones industrial average flirting with a record high, the split between American workers and the companies that employ them is widening and could worsen in the next few months as federal budget cuts take hold.”

The graph that accompanies the article tells the story.

Incoming Shifting to Business

The entire article can be read here.

The second was published by Common Dreams on March 4, 2013. The article, “Golden Age for ‘Corporate Profits’ As Workers Get Whacked”, begins by saying that  “Experts estimate so-called budget sequestration could cost the country about 700,000 jobs, but Wall Street doesn’t expect the cuts to substantially alter corporate profits or threaten stock markets.”

You can read the entire article here.

We all know that the Great Recession has impacted everyone in the United States. Some have fared it well, have even benefitted from it. Others, in fact, most, have been negatively impacted by it.

The two articles above show us just how well corporations and the corporate elite have benefitted from the Recession and how they are now going to benefit further from the Sequester.

The Sequester is not going to benefit everyone, though. It is going to have a very negative impact on America’s working and middle classes as spending cuts and austerity programs trickle down and “whack” the American public.

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Explore posts in the same categories: Economics, Labor, Politics, Poverty, Social-Economic Justice, Uncategorized, Unions

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