You are currently browsing the daily archive for June 14, 2011.
As a proponent of progressive taxation and egalitarian society I still hear about benefits “trickling down” from the top of society to the bottom. This of course is still horsepucky but as a meme still shows a great amount of resiliency as it continues to crop up again and again. Another sticking point is all the doom and gloom being written about the economy, despite a rebound of corporate earnings. Sociological images provides a graph and analysis about the economy.
“Using Bureau of Economic Analysis data, he looked at total U.S. domestic profits, as well as the proportion of all domestic profits earned by the financial sector, between 2001 and the end of 2010. And what we see is that both overall corporate profits, and the finance sector so central to the economic crisis, have bounced back quite well, returning to the levels we saw just before the peak of the boom period:
:
“Point is, it complicates the general perception we might get from news reports that everything in the economy is awful and there are no profits to be made. Ongoing job stagnation and media focus on the negative economic news doesn’t mean all parts of the economy are suffering equally, or that as soon as corporate earnings rebound, the benefits would quickly reach workers in the form of new job opportunities.”
I’m thinking that the workers are not seeing the rebound as quickly or at all if one is to believe the graph. In a country with more redistributive policies in place I would predict that more people would be on the rebound instead of just the corporate elite.
bleatmop
Mystro
The Arbourist
Dead Wild Roses 
Your opinions…