If you need further evidence of the erosion of the middle class, the success of the top 1%, and why we are experiencing a revenue problem rather than a spending crisis, check the article in today’s New York Times by Floyd Norris. It’s entitled “For Business, Golden Days; For Workers, The Dross,” and features a number of charts:
- corporate profits hit record high
- ...as wages fall to new low
- ...and taxes remain well below average.
The article, which you can read in its entirety at <http://www.nytimes.com/2011/11/26/business/for-companies-the-good-old-days-are-now.html?_r=1&ref=todayspaper>, will not be discussed at the next Republican presidential candidate debate.
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