Courtesy of the Labor Department — the share of national income taken home by working people is now at a record low.
Meanwhile, Corporate America continues to rake in record profits.
The only thing trickling down is the socialization of debt by handing out gratuitous tax-cuts to corporations and the uber-rich while imposing tax hikes on the middle-class and the working-poor. And while President Obama was able to pass the largest middle-class tax cut in history at the federal level, Republican-controlled state legislatures are fighting tooth and nail to make up for the disparity at the state level by lowering their corporate tax rates while also increasing fees, taxes, and other expenses on the little people.
Heading into the next election cycle, there should be no doubt who is on our side and who is on Corporate America’s side.
Adding… notice the upward trend in the late 1990′s which quickly plummeted as soon as Bush took office?