Hey, the economy is the “pivotal” issue in the 2012 election, right!? We’re in a real “make or break moment” for the United States, aren’t we!? It’s “now or never,” don’t ya think!?
So there couldn’t be a better time for two charts from Business Insider that show exactly what’s wrong with this place: wages are at an all-time low and corporate profits are at an all-time high.
Chart 1 (above):
Corporate profit margins just hit an all-time high — Companies are making more per dollar of sales than they ever have before. (And some people are still saying that companies are suffering from “too much regulation” and “too many taxes.” Maybe little companies are, but big ones certainly aren’t).
Wages as a percent of the economy are at an all-time low. — This is both cause and effect. One reason companies are so profitable is that they’re paying employees less than they ever have as a share of GDP. And that, in turn, is one reason the economy is so weak: Those “wages” are other companies’ revenue.
There’s also a third chart that shows “fewer Americans are working than at any time in the past three decades,” but that’s just icing on the cake.