08.10.2013 - 00:33 [ Truthout ]

How Redistribution to the Rich Has Broken the Back of America

From 2001 to 2011, total corporate profits more than doubled, to almost $2 trillion, while the corporate federal income tax rate was cut in half.

Incomes for 99% of Americans have declined since the recession, with the median household income dropping by 7.3 percent. Low-income jobs ($7.69 to $13.83 per hour) made up 1/5 of the jobs lost to the recession, but accounted for 3/5 of the jobs regained during the recovery.