America: What's Really Happening

From today's NYT story about how most workers' income is flat, at best, while corporate profits skyrocket and senior executives cash in.

"Even as the average worker's wages are stuck in neutral, corporate profits, professionals' incomes, gains from investments and executive compensation - the kind that frequently comes in the form of stock options - are all surging, supporting healthy gains in the economy.

"Profit has roughly doubled in the last year on revenue growth of about 40 percent," said Alex Mann, co-owner of Clicktime.com, a company in San Francisco that sells time-sheet applications over the Internet. "The top-line growth was very satisfying. There's been very strong growth in the amount left for compensation of the owners and for profits." (emphasis mine)

CUT TO: Rippling muscles on the backs of American working people, who are sacrificing to enhance corporate profits.

This is yet another example of how today's economic statistics (number of jobs created, economic "growth", etc.) don't reflect what's really going on with working families. What good are so-called "healthy gains" in the economy if working people aren't sharing in the bounty? We already know that when that happens, it spurs even more economic growth.