07-30-2011
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Senior Ladyboy Lover
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Join Date: Oct 2008
Location: S. Calif.
Posts: 2,502
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From Dean Baker, Business Insider
Corporate profits
Quote:
While this situation got some attention in the news reports, all the accounts I saw completely missed the upward revision to profits. The revised data showed sharply higher profits for both 2009 and 2010. In fact, in the revised data profits accounted for 23.8 percent of income in the domestic corporate sector in 2010. This is more than a full percentage above the previous peak. Within the corporate sector, the financial industry is the big winner, accounting for 31.7 percent of corporate profits in 2010. This movement in profits is no doubt attributable to all the regulations and taxes imposed by President Obama.
Anyhow, you didn't hear about this from the media because they had to present you with the latest from Tea Party gang, but there are some people who do actually look at economic data.
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"Man's capacity for justice makes democracy possible; but man's inclination to injustice makes democracy necessary." R.N.
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