As share of GDP, corporate profits highest since 1950
“So far in this recovery, corporations have captured an unusually high share of the income gains,” said Ethan Harris, co-head of global economics at Bank of America Merrill Lynch. “The U.S. corporate sector is in a lot better health than the overall economy. And until we get a full recovery in the labor market, this will persist.”
The result has been a golden age for corporate profits, especially among multinational giants that are also benefiting from faster growth in emerging economies like China and India.
…. As a percentage of national income, corporate profits stood at 14.2 percent in the third quarter of 2012, the largest share at any time since 1950, while the portion of income that went to employees was 61.7 percent, near its lowest point since 1966. In recent years, the shift has accelerated during the slow recovery that followed the financial crisis and ensuing recession of 2008 and 2009, said Dean Maki, chief United States economist at Barclays.
Corporate earnings have risen at an annualized rate of 20.1 percent since the end of 2008, he said, but disposable income inched ahead by 1.4 percent annually over the same period, after adjusting for inflation.
“There hasn’t been a period in the last 50 years where these trends have been so pronounced,” Mr. Maki said.
Yet conservatives continue to argue that the business climate under President Obama stifles profitability.
This seems a good time to rerun the chart below, taken from data compiled by the Federal Reserve of St. Louis. In the chart, the share of the national economy, or GDP, going to workers’ paychecks is in blue. The share of the economy that is going to after-tax corporate profits is in red. (Again, note that in this combined chart, the two statistics have separate scales.)
– Jay Bookman
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699 comments Add your comment
MiltonMan
March 4th, 2013
2:45 pm
Jay, thinking that there is a direct coorelation between profits and the business climate. That is funny.
Keep Up the Good Fight!
March 4th, 2013
2:45 pm
Maybe I should stop trying to channel my inner Fred.
Hmmmm…. so do I go with:
“Free your inner Fred!” or “Let your Fred flag fly”?
Bernie
March 4th, 2013
2:45 pm
MO MONEY! MO MONEY! MO MONEY! For the TAKERS as far as the EYE CAN SEE…..
Now tell me again REPUKES, how President Obama is destroying America?
Seems to me its BUSINESS AS USUAL in Corporate America!
JohnnyReb
March 4th, 2013
2:45 pm
RB made some excellent points, I’ll add this.
Employees are similar to a commodity. Why would a business pay Joe $15 an hour when Tom will do the same job with just as good a result for $12?
How many of you line up at the BP station to purchase Amoco premium (we use to call it white gas) when your clunker will run on QT’s regular?
People with skills can get a job. They may have to relocate, but they can find a job. Trying to force businesses to pay a premium wage for routine labor is another socialist tactic born of the Left.
You want a bigger piece of the pie? Earn it.
Brosephus™
March 4th, 2013
2:47 pm
Kamchak
I can’t tell you the number of people who travel with those in their bags, many of them carry-on bags. From that link, it sounds like they’re talking about checked bags as that’s where notes are left when a bag is searched. Notes are not given out for carry on as the person is there to witness the search. It could be that people are nasty, but if I didn’t have to, I wasn’t searching anybody’s bag with sex toys because of where they’ve been. That’s as bad as having to search somebody’s bag and they have sh*tty drawers in there.
Stevie Ray
March 4th, 2013
2:48 pm
Class of ‘98
March 4th, 2013
2:30 pm
Hmmm. Think about your comments again. Let’s take the road paving equipment. How many new manufacturing jobs you think would be created to offset loss of 100 manual jobs?
Kinda like domino’s….since the use of computer techology and now robotics, manual jobs utilized to formerly build this equipment are lost. The parts that build these machines are mostly performed by such technologies…the former manual jobs are cut materially in favor of highly skilled stewards of this equipment.
The Amazon example is an easy one. The bookstores close…they can still sell those $5 frufru coffee drinks…but the need a fraction of stores to accomodate that population. The bookbinders and publishers are completely automated. The amazon distribution warehouses are modernized contiuously by technology to more effectively and efficiently move product…
Look around….
DebbieDoRight - What this country needs is more unemployed politicians
March 4th, 2013
2:49 pm
You liberals keep piling on the paperwork and regulations, business keeps following the path of least resistance (shipping jobs overseas)
Wow! I’m surprised, really, really, surprised that it took this long for RB to finally say this! He’s been gearing up to it for a couple of months now; but I thought, (Dumb Debbie was soooo dumb that she thought….) RB was only spouting rhetoric and wasn’t seriously thinking about turning this great nation into another 3rd world country for American corporations to spoil and pollute!
Man! Was I wrong……………..
Kamchak ~ Thug from the Steppes
March 4th, 2013
2:51 pm
I wasn’t searching anybody’s bag with sex toys because of where they’ve been.
Yeah, that was my first thought too.
Y’all must go through boxes and boxes of gloves on a daily basis.
JohnnyReb
March 4th, 2013
2:51 pm
Don’t know how it will affect us in the long run, but I do have first hand knowledge on prices going up on goods made in China. Chinese workers are demanding more and it ripples into pricing.
Anyone who thinks Apple will be making items in the USA because they are patriots is being foolish.
curious
March 4th, 2013
2:51 pm
Feel the trickle?
Keep Up the Good Fight!
March 4th, 2013
2:52 pm
Debbie, what? You object to having horsemeat in your meatballs?
Doggone/GA
March 4th, 2013
2:53 pm
“it is the small businesses that employs the vast numbers in our workforce”
not according to the numbers posted upthread. They show that while small business employs a lot of the workforce, it doesn’t add up to “vast” numbers compared to the totals for all other employers
mm
March 4th, 2013
2:53 pm
Labor built this country.
Greed is destroying it.
Kamchak ~ Thug from the Steppes
March 4th, 2013
2:54 pm
The amazon distribution warehouses are modernized contiuously by technology to more effectively and efficiently move product…
That’s only part of the problem.
I try to give my business to brick and mortar retail shops, but I am continually told, “We don’t have that in stock, but I can order it for you.”
Hell, I can order it myself, and I don’t have to drive back to the store.
Lynnie Gal
March 4th, 2013
2:55 pm
If corporations are making such huge profits and 47 % (there’s that number again!) work for large corporations, why are wages plummeting? I’ll tell you why. Because wages go along the way of unions. If there are strong unions, everyone’s wages increase–even non-union workers. When unions are crushed, everyone’s wages declines. It’s true that a rising tide lifts all boats when it comes to union success.
Stevie Ray
March 4th, 2013
2:56 pm
We all know one thing, despite rhetoric to the contrary via that crap Dodd-Frank, life remains good for those too-big-to-fail entities. We have set precedent that taxpayers will forever re-insure these bowevils…so in addition to protecting our too-big-to-fail government, we have to bail out mistakes and risks of the entities that control all the stuff..
DEMS/GOPS et al need to bust these groups up in pieces…all benefits for us..competition, safety and the like…Speaks volumes that the tarp money was even given to them instead of customers…better all around..
curious
March 4th, 2013
2:57 pm
The problem in this Country is people like that bank executive in Ellijay; a pillar of the community and probably a staunch conservative.
Kamchak ~ Thug from the Steppes
March 4th, 2013
2:57 pm
I do have first hand knowledge on prices going up on goods made in China.
I do have first hand knowledge of Catrinel Menghia’s anatomy.
Erwin's cat
March 4th, 2013
2:57 pm
I can’t tell you the number of people who travel with those in their bags, many of them carry-on bags.
3 times so far and always on the return trip filled with dirty laundry
_____________________________________________________
You object to having horsemeat in your meatballs?
don’t knock it til you’ve tried it
Kamchak ~ Thug from the Steppes
March 4th, 2013
2:58 pm
I do have first hand knowledge on prices going up on goods made in China.
I do have first hand knowledge of quarterbacking a winning Super Bowl game.
Stevie Ray
March 4th, 2013
2:58 pm
Lynnie Gal
March 4th, 2013
2:55 pm
Wages plummeting? Wow, that’s quite dramatic I think. Unions are only exceeded by religious institutions in terms of investments to remain relevant. The trend in union participation (value) is what is plummeting….a good idea way past it’s prime..
Union
March 4th, 2013
2:59 pm
@lynnie gal.. umm yeah… tell that to the non union delta employees that are making more than their union counter parts
Doggone/GA
March 4th, 2013
2:59 pm
“Hell, I can order it myself, and I don’t have to drive back to the store”
And have you ever thought to ask them if they can have it shipped directly to you? Most of them can.
Erwin's cat
March 4th, 2013
2:59 pm
LG – If corporations are making such huge profits and 47 % (there’s that number again!) work for large corporations, why are wages plummeting? I’ll tell you why.
supply and demand
Thomas
March 4th, 2013
2:59 pm
Good thing that Bernie (Madoff) is able to blog with us. Please, tell us more.
One of the real issues facing employment and corporate America now is that institutions laid off 10-15% of the workforce in ‘08 and ‘09 and unfortunately no one is missing them.
Education, skill, and technology gap- income and wealth gap are a symptom not a cause.
Brosephus™
March 4th, 2013
3:00 pm
Kamchack
Gloves and hand sanitizer. I don’t even wait on the employer to provide them as I usually buy my own.
Erwin's cat
March 4th, 2013
3:01 pm
LOL at my 2:57
I was referring to a bag search….nothing else, i swear
Stevie Ray
March 4th, 2013
3:02 pm
mm
March 4th, 2013
2:53 pm
You forgot to include global economy, government blunders, and incentive malalignment. I guess you are suggesting that if I own a share of stock, that I don’t want the biggest return on my investment. Greed exists at every single point in the process…
JohnnyReb
March 4th, 2013
3:02 pm
Kamchak ~ Thug from the Steppes
March 4th, 2013
2:57 pm
I do have first hand knowledge on prices going up on goods made in China.
I do have first hand knowledge of Catrinel Menghia’s anatomy.
_________________
You’re a lucky guy.
She’s hot, but I’m not so sure hot enough to raise pricing of Chinese goods so that more people go to work here.
Kamchak ~ Thug from the Steppes
March 4th, 2013
3:03 pm
And have you ever thought to ask them if they can have it shipped directly to you?
I’m a part time resident of two states, and while my comings and goings are pretty flexible, I prefer not to have to wait for a delivery.
Paul
March 4th, 2013
3:03 pm
“As share of GDP, corporate profits highest since 1950″
A relative by marriage posted one of those inane pics on Facebook about Obama being ‘the worst president ever’. I had about a three-day exchange with a woman and cited nearly every sound bite she posted was true of Bush, not Obama (increased gov’t spending, bailouts, to name a couple), or was true of Obama, not Bush (record corporate profits, lowest fed taxes as percentage of income,r record stock market growth – all the stuff we read here) or misrepresentations or lies (Obama wants to confiscate my guns). Her response was to ’stop whining about Bush.” I noted most everything she disliked about Obama was true of Bush, not Obama. She said she just wanted her opinion. I asked, what if your opinion is based on bad information? Don’t you want to know so you can change it? She said “I’m done, stop lecturing me.”
It so reminded me of Jay’s blogs on topics like this. “Don’t bother with the facts, I just want to keep my opinion that Obama’s bad and responsible for everything.”
This topic is no different.
Jm
March 4th, 2013
3:03 pm
“Education Secretary Arne Duncan on Monday said that he had chosen the wrong words last week when he told reporters that teachers were already receiving pink slips due to the spending cuts mandated by the so-called sequester.”
And Obama misspoke about janitors wages being cut.
The liberals just lie and lie and lie.
Brosephus™
March 4th, 2013
3:03 pm
Kam: I try to give my business to brick and mortar retail shops, but I am continually told, “We don’t have that in stock, but I can order it for you.”
Hell, I can order it myself, and I don’t have to drive back to the store.
That’s because companies shed warehousing a while ago in order to cut costs. Most companies rely on a just-in-time supply model where any interruption in the supply chain can cause all kinds of chaos.
————–
EC
Only by searching the bag will we know whether the cat is a vibrator or not.
GT
March 4th, 2013
3:04 pm
The point here is maybe the economic recovery is not in the hands of the government as much as it is in the hands of the private sector. You are pumping money into a machine and it comes out in China with the GOP’s model. At least the government employee is an American citizen and the money drains in an American economy.
We need to encourage American small business. Let a Fidelity Bank compete with a Chase, let an American operation that pays American taxes and employs American people and uses American incentives grow, favor them over international companies that are like Caribbean chartered banks where they are here in name only. God bless anyone who can make this kind of money but bless the ones who help the homeland, being the USA, the most.
Stevie Ray
March 4th, 2013
3:05 pm
Doggone/GA
March 4th, 2013
2:59 pm
Not sure that is productive….just means I have to go to the store twice….the cost of gas alone makes the transaction unfavorable. Of course if you invest a couple hundred into a reading device, you never get out of stock replies for the books available, no gas expense, and instant gratification…
Stevie Ray
March 4th, 2013
3:07 pm
GT
March 4th, 2013
3:04 pm
Busting up the top 15 financial institutions could be the single most effective act to make things happen. Talk about sitting on capital, introducing competition for consumer and small business capital would work wonders…as would a transaction tax….even a fraction of a percent.
Redneck Convert (R--and proud of it)
March 4th, 2013
3:08 pm
Well, I always did think we never treated corporations very good. At the least we shouldn’t tax them. And maybe when one walks by we should offer our wife or josef—whichever way they roll. And maybe the first-born.
Far as I’m concerned us Conservatives need to cozy up to the corporations alot more.
tm
March 4th, 2013
3:08 pm
Wonder what the GDP was for those years? flat? decreasing? rising?
Doggone/GA
March 4th, 2013
3:12 pm
“I’m a part time resident of two states, and while my comings and goings are pretty flexible, I prefer not to have to wait for a delivery.”
but if you order it yourself, you have to wait. What’s the difference?
mm
March 4th, 2013
3:12 pm
Stevie Ray,
“You forgot to include global economy, government blunders, and incentive malalignment. I guess you are suggesting that if I own a share of stock, that I don’t want the biggest return on my investment. Greed exists at every single point in the process…”
Bull pucky. Screw the global economy. Government is greedy? Incentive malalignment = greedy management. You can’t argue with the facts.
Walmart and many of the restaurant chains are responsible for the rapid increase in welfare and foodstamp recipients. We are subsidizing their low wages for cheap meals and goods.
Paul
March 4th, 2013
3:12 pm
Jm
“And Obama misspoke about janitors wages being cut.
The liberals just lie and lie and lie.”
For all you concern about lies by the Executive Branch, I cannot recall you ever posting the same about VP Cheney or SecState Powell or Nat’s Sec Advisor Rice lying that cost 4400 American deaths and tens of thousands wounded.
And here I thought you were concerned about lying in general, not just specific cases.
Then again, you always did have your priorities straight.
Erwin's cat
March 4th, 2013
3:13 pm
Steve Ray – Of course if you invest a couple hundred into a reading device, you never get out of stock replies for the books available, no gas expense, and instant gratification…
On that note Best Buy will match Amazon and other online pricing….now that’s instant gratification
They call me MISTER JamVet.
March 4th, 2013
3:13 pm
Lynnie, to your point, there have been two great organizations in this country that have protected the American working family from the unmitigated and ruthless power and corruption of America’s robber barons.
They have been labor unions with the wonderful American tradition of collective bargaining and Uncle Sam who outlawed the moist vicious excesses and treatment of American workers.
Both have been effectively gutted by the modern day GOP fascists. (Hitler banned labor unions when he first came to power.)
THAT is why incomes have essentially FLATLINED for nearly 80% of American workers.
And the new robber barons laugh as they have the servile, working class schmucks of the gullible right wing in their back pockets helping them consolidate more and more and more power and wealth into fewer and fewer and fewer hands.
It makes no sense, but this is the disease of perverted capitalism…
Fred ™
March 4th, 2013
3:14 pm
Busting up the top 15 financial institutions could be the single most effective act to make things happen. Talk about sitting on capital, introducing competition for consumer and small business capital would work wonders…as would a transaction tax….even a fraction of a percent.
It’s only recently that they were allowed to grow so big and that was so they could compete with the banks from other Countries, some of which are Gov’t supported……..
Jackie
March 4th, 2013
3:14 pm
Not only are businesses making a more substantial profit, they are refusing to share those gains with the workers.
Documented reports show that business has more $2Trillion dollars cash on their balance sheets.
http://finance.fortune.cnn.com/2012/06/06/2-trillion-cash-obamas-fault/
willie lynch
March 4th, 2013
3:16 pm
JohnnyReb
March 4th, 2013
2:51 pm
So prices go up on goods made in China because Chinese workers are demanding higher wages. Are they wrong for making these demands?
Fred ™
March 4th, 2013
3:16 pm
LOL Jackie, quite the contrary. Did you read teh AJC article last week about Corporate VIP’s getting HUGE salary increases?
Erwin's cat
March 4th, 2013
3:17 pm
Jackie – Not only are businesses making a more substantial profit, they are refusing to share those gains with the workers.
should they?…and not quite true, my bonus metrics are tied to companies profitability
Kamchak ~ Thug from the Steppes
March 4th, 2013
3:18 pm
…but if you order it yourself, you have to wait. What’s the difference?
Yeah, that’s why I prefer brick and mortar retailers, but for some reason, most of what I want usually has to be ordered.
Jackie
March 4th, 2013
3:19 pm
@Fred
I should have qualified my remark to show those workers at a pay level less than management have been loosing income.
bman.
March 4th, 2013
3:19 pm
“My business is fine. I’m currently working on opening a restaurant. I don’t see obstacles, I see money and opportunity.”
Odds are you will be chirping a different tone.
GT
March 4th, 2013
3:19 pm
Stevie Ray and what really blows me away is we bailed them out. They are all about being American on that end of the gun, but let’s put our capital, which was in part American tax payers’ money, in foreign ports where we make more money on the other side of the coin.
We are actually aiding and abiding our enemy in the China model; China, a country that plays with their currency to weaken ours and hacks into our websites to steal information. The same regime that underpins North Korea and allows them to threaten the world is encouraged by China. New markets that are polluting the world with our oils, out of reach of our government rules, but not our money.
Brosephus™
March 4th, 2013
3:20 pm
JamVet: They have been labor unions with the wonderful American tradition of collective bargaining and Uncle Sam who outlawed the moist vicious excesses and treatment of American workers.
So, that’s where the whole “no vaseline” thing came from? I learn something new here every day.
Doggone/GA
March 4th, 2013
3:20 pm
“Yeah, that’s why I prefer brick and mortar retailers, but for some reason, most of what I want usually has to be ordered”
And it’s not going to change. See above about “just in time shipping”…it’s just not cost effective anymore for a lot of businesses to maintain big inventories when most stuff can be shipped directly to the customer. Even the cost of that shipping is less expensive than maintaining stock inventories and the neccessary space to keep them.
We’re not so far off when more than a few businesses are going to be nothing more than shop windows.
Jackie
March 4th, 2013
3:20 pm
@Erwin’s cat
The key word in your post was “bonus.”
How many average workers receive a bonus, yet, they work harder and more productively than ever?
ethics?
March 4th, 2013
3:21 pm
where is the blog about president selling access for 1/2 million? too busy worrying about $100 gift limits in GA?
Brosephus™
March 4th, 2013
3:23 pm
bman: Odds are you will be chirping a different tone.
It all depends. Had a new restaurant open up within walking distance of my house in late Nov/early Dec. The parking lot has been packed all day, every day since then. I wanted to take the family there, and the wife agreed that we’d go once the crowd thinned out. We still haven’t been yet.
Erwin's cat
March 4th, 2013
3:23 pm
Jackie
How many average workers receive a bonus,
I have no idea…do you?
yet, they work harder and more productively than ever?
by what metric?
Jackie
March 4th, 2013
3:24 pm
@Erwin
Couple my original assertion with the fact that economists have said that wages are not stagnant, they are plummeting.
http://www.washingtonpost.com/blogs/wonkblog/wp/2012/07/31/wages-arent-stagnating-theyre-plummeting/
Recon 0311 2533
March 4th, 2013
3:25 pm
Yet conservatives continue to argue that the business climate under President Obama stifles profitability.
Classic example of the left not understanding what has been clearly evident. Conservatives argue that Obama’s policies discourages domestic business investment.
Stevie Ray
March 4th, 2013
3:25 pm
This is classic…at the expense of having my politics defined I offer the following:
Now it appears Obama has backed down. After issuing apocalyptic warnings of the plagues and pestilence would descend upon the land if the sequester took effect, on Friday he declared, “This is not going to be [an] apocalypse, as some people have said.” (Some people, Mr. President?) Instead of the end of the world, the sequester is now “just dumb.”
Brosephus™
March 4th, 2013
3:26 pm
where is the blog about president selling access for 1/2 million? too busy worrying about $100 gift limits in GA?
http://www.blogspot.com/start_your_own_blog/write_your_own_opinions.html
They call me MISTER JamVet.
March 4th, 2013
3:27 pm
Entrepreneur, lawyer, shareholder advocate, and author, Robert A. Monks wrote recently that “American corporations today enjoy an absolute reign. They and they alone have the power to control the rules under which they function. Corporations, and the most powerful CEOs acting through them, have effectively seized authority over the United States without assuming any of the responsibilities of dominion.”
Was corporate domination the theme of the recent Republican and Democratic conventions? Only to the extent to which hospitality parties put on by the drug, banking, insurance, energy and other industries had the best booze, food and other allurements.
Normal, Plain and Simple
March 4th, 2013
3:27 pm
Off topic again, but …ya think?
http://www.salon.com/2013/03/03/obama_now_its_all_about_2014/
Keep Up the Good Fight!
March 4th, 2013
3:27 pm
Jackie: How many average workers receive a bonus, yet, they work harder and more productively than ever?
I would add how many workers are misclassified, often intentionally, by employers to avoid paying overtime and to provide benefits.
GT
March 4th, 2013
3:27 pm
Fred ™ even a lot of that government assistance of foreign countries is our aid being used indirectly to weaken us. The old models are not holding water; the world has learned how to play it better than we can. And the ex American corporations have join them in doing so. Our immune system has turned on us.
Jackie
March 4th, 2013
3:27 pm
@Erwin
Here is further info to help you understand my point about the American labor force.
http://www.inc.com/news/articles/200709/labor.html
Fred ™
March 4th, 2013
3:28 pm
Brocephus@ 3:20: I think that is some of your “comedic gold” that cheesy grits was referring to…….
Stevie Ray
March 4th, 2013
3:28 pm
mm
March 4th, 2013
3:12 pm
If your argument is that all of our woes rest solely upon the shoulders of the dreaded 1% or whatever, your time came and went. Guess the other variables are simply silly foibles pushed by evil conservatives..
Jackie
March 4th, 2013
3:29 pm
@Keep
They have manipulated the laws to such an extent, that most workers can be classified as management and be require to work overtime without compensation.
Erwin's cat
March 4th, 2013
3:31 pm
Jackie…I don’t argue the wage/gap issue, it is what it is. What do you propose as a solution?
In the middle
March 4th, 2013
3:31 pm
Interesting but useless chart. Showing “that” profits are rising without finding “why” they are rising is another lame attempt at trying to make a feeble correlation. Even beyond that “A correlation does not necessarily indicate a cause and effect”. Corporations are not a bad thing, healthy and profitable corporations are not bad.
Getting beyond the “corporate greed man” and “down with the man, man”. How about using your highly developed skills as a journalist try to find out the cause and effect, not just the result.
Lame lame lame..
For all you Harvard Business school grads out there. Wages will not start to rise until the labor supply is smaller than the demand. ie. more jobs than people rather than more people than jobs.
Also, I don’t remember if it is profits or growth that is being claimed to be stifled under Obama. Please cite your source.
Brosephus™
March 4th, 2013
3:31 pm
Fred
JamVet teed it up. All I had to do was take the swing.
Jackie
March 4th, 2013
3:32 pm
@RECON
What regulation(s) would you cite that has hindered the corporations in America from making a maximum profit?
It appears all evidence points to the fact that corporations are making more money than they have since the 1950’s and complaining because they do not make more.
Keep Up the Good Fight!
March 4th, 2013
3:32 pm
Jackie, the IRS has been cracking down on it to some extent but they too have limited enforcement resources. Same thing with the “subcontractor” classification.
Jefferson
March 4th, 2013
3:32 pm
When a man with money hooks up with a man with know-how, after a while the man with money forgets he didn’t have the know-how.
Erwin's cat
March 4th, 2013
3:32 pm
that most workers can be classified as management
most?
Jackie
March 4th, 2013
3:35 pm
@Erwin
My solution would be to pay workers more and hire more workers.
Does two things; first it puts more demand in the economy because individuals would have more disposable income; second, increases money going into Social Security, Medicare and taxes needed to upgrade the declining infrastructure.
They call me MISTER JamVet.
March 4th, 2013
3:35 pm
Yoiks, Bro!
Well somebody here uses the acronym BOHICA (Most vets are familiar with this one!), so why not?
Huge LOL!
willie lynch
March 4th, 2013
3:35 pm
Jackie
March 4th, 2013
3:27 pm
Come on Jackie you’re using too many facts.
Kamchak ~ Thug from the Steppes
March 4th, 2013
3:35 pm
Interesting but useless chart.
There’s your sign.
Lame, lame, lame….
independent thinker
March 4th, 2013
3:35 pm
Another stupid party brain dead commentator (RB from Gwinnett):
“”"”"”"”"”"Yet conservatives continue to argue that the business climate under President Obama stifles profitability.”
You’re not digging very deep are you Jay? When the business climate here makes it easier to ship jobs to other parts of the world, how does that affect corporate profit? And how does it affect wages of Americans who feed GDP?”"”"”"”"”"”"”"”"”"
Ah yes a devotee of the Romney school of vulture capitalism. Get huge government baiout money for Delph, fire the workers and pack the plants off to China while genius Romney get 2000% return on his investment (not on his mandatory federal disclosure as mooching off the taxpayers). or Sensata Technologies that Bain just shipped off from Freeport Illinois last year. Making iover a hundred million.
You are right RB slave and child labor is much cheaper. I bet they can get twelve hours a day at a buck a day out of those workers. A savy investor or company can probably keep that income offshore too to avoid those pesky US taxes. That’s why that yacht with the Cayman flag was at the Repubs’ convention for Romney and his friends. All because the US dares to protect workers and the environment. What a shame-we should all be vulture capitalists..
Stevie Ray
March 4th, 2013
3:37 pm
This is fun read:
http://www.washingtonpost.com/opinions/ej-dionne-in-catholicism-and-politics-a-crisis-of-governance/2013/03/03/b5c1a1f4-82c7-11e2-a350-49866afab584_story.html?tid=pm_opinions_pop
Erwin's cat
March 4th, 2013
3:37 pm
Jackie
My solution would be to pay workers more and hire more workers.
if you do that ahead of demand, you go out of business and nobody works
In the middle
March 4th, 2013
3:37 pm
There are strict rules and guidelines for determing if an employee is exempt or non-exempt. If the guidelines are not met than a company is liable for all back overtime earned if they are ever caught, which only takes a phone call.
Brosephus™
March 4th, 2013
3:38 pm
JamVet
I couldn’t leave that one alone. It was too irresistable to pass up.
JohnnyReb
March 4th, 2013
3:38 pm
willie lynch – from what I hear/read, Chinese working conditions can be like the salt mines of old. So, no, I don’t think they are wrong in making demands. I was simply using the example that things are starting to change.
I do know that some American companies use third party auditors to check the working conditions, age of employees, etc. in addition to product quality when having products manufactured in China. How that affects or plays a part in Chinese workers demanding better conditions, I’m not sure.
They call me MISTER JamVet.
March 4th, 2013
3:38 pm
cat, provide by law that the actual owners of corporations – the employees and shareholders – are empowered to vote on executive compensation, benefits and terms.
Have performance clauses in those contracts.
No more closed door, back room, sweetheart deals…
liberal hack
March 4th, 2013
3:39 pm
Mr. Jamvet, thanks for the correction….didn’t realize we had that few gov’t workers…
Regnad, what I was saying is that a 401K earns its money through investments therefore making it a capital gain, at least from my understanding. There are liberals who want to tax capital gains at the highest income tax bracket which is nearly 40%. I don’t think that’s reasonable….especially at my income level, which is pretty low btw…..
I kinda agree w/ getalife about corporate welfare but he argues you should give “green energy” companies money…I’d say that’s welfare…if you give them a low interest loan with the hard agreement you get the money back, that would be different in my eyes.
I’m not against large corporations getting tax breaks but they shouldn’t receive one penny from the gov’t in a form known as a refund. if their tax liability happens to be zero, that’s one thing, it’s another thing to write them a large check..
Stevie Ray
March 4th, 2013
3:39 pm
ERWIN
Jackie is clearly in favor of those politicies promoted by Mr Mooch in Atlas Shrugged…
Jackie
March 4th, 2013
3:41 pm
@In The Middle
Without the median wage rising to a level that would afford the worker more disposable income, the supply/demand curve will begin to fail and the demand for goods and services will be severely curtailed because the median income salaries will not be able to fuel the demand for those products being produced.
A classic example would be Henry Ford and Walter Ruether of the UAW. Henry told Walter that he had the ability to automate his production line and he was planning on laying off a majority of his production workers. Walter responded, Henry, if you don’t hire anyone at a wage that they can live on and have enough money left, who will buy your cars?
Cheesy Grits
March 4th, 2013
3:42 pm
The liberals just lie and lie and lie.
The smoking gun will be the mushroom cloud.
Jackie
March 4th, 2013
3:42 pm
@Stevie Ray
I am favor of those policies that will be beneficial to all Americans.
Sorry to hear that you still believe in the Lafler curve.
Keep Up the Good Fight!
March 4th, 2013
3:42 pm
There are strict rules and guidelines for determing if an employee is exempt or non-exempt. If the guidelines are not met than a company is liable for all back overtime earned if they are ever caught, which only takes a phone call.
Absolute nonsense. Yes there are rules. The rest of your comment is more loaded with crap than a Carnival Cruise deck.
GT
March 4th, 2013
3:43 pm
Obama will eventually be right, this will cause another recession. The only way this country is going to get out of this cycle is to let things die and replace them. The poor won’t know the difference, the rich or the entitled entity that keeps this recession alive so they can live the life of kings with no real national product are the ones who would feel a depression. The figures show it.
O had the banks where we needed them when he came into office; he got soft and let them survive, in a dysfunctional and corrupt systemic disease ridden reality call monopoly. This is where the cancer is found in the American economy and if closely examined a lot of the world’s economy or lack of it is this monopoly of organized crime run wild. We right here in America started the world wide panic, with our falsely rated papers and lack of integrity that once could be traded on. If we cannot be trusted and have no integrity what are we good for? But now the monster has escaped our borders and who pray tell can stop them. It is like Madoff taking over the world.
Stevie Ray
March 4th, 2013
3:43 pm
independent thinker
March 4th, 2013
3:35 pm
I don’t think it’s the business climate pushing offshoring (which is undoubtedly the most over rated of problems we face)..this has gone on for decades. It has to do with global competition….its pretty simple. We can complicate things but this is simply the predictable evolution of globalization of the economy.
We should be very afraid if we ever become the country of choice for these jobs….
Jackie
March 4th, 2013
3:43 pm
@Erwin
Same argument that was used in trying to keep the minimum wage from rising.
Doggone/GA
March 4th, 2013
3:44 pm
“When a man with money hooks up with a man with know-how, after a while the man with money forgets he didn’t have the know-how”
And the man with the know-how forgets he didn’t have the money
JohnnyReb
March 4th, 2013
3:45 pm
How many Moonbats here have actually owned a company and made a profit?
How many even consider, for example, how energy drives up prices at all levels?
How many consider that the energy policies of the Obama Administration is responsible for higher prices and/or smaller quantities at the same price?
If faced with shutting a company down or moving it off shore where profits would certainly come, what would you do?
Stevie Ray
March 4th, 2013
3:45 pm
Jackie
March 4th, 2013
3:42 pm
Serious? A better understanding of capitalism and the global economy may serve you well….would you be in favor of a law that made firing any employee while making a profit illegal?