Corporate Profits Soaring Thanks To Record Unemployment

by Guest Tue Mar 01, 2011 12:01 am

Here is yet another reason Congress needs to step up action on HR 589.

In a January 2009 ABC interview with George Stephanopoulos, then President-elect Barack Obama said fixing the economy required shared sacrifice, "Everybody’s going to have to give. Everybody’s going to have to have some skin in the game."

For the past two years, American workers submitted to the President’s appeal—taking steep pay cuts despite hectic productivity growth. By contrast, corporate executives have extracted record profits by sabotaging the recovery on every front—eliminating employees, repressing wages, withholding investment, and shirking federal taxes.

http://www.zerohedge.com/article/guest-post-corporate-profits-soaring-thanks-record-unemployment

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