{"id":21468,"date":"2013-01-17T18:23:00","date_gmt":"2013-01-17T17:23:00","guid":{"rendered":"http:\/\/feeds.feedblitz.com\/~\/37323224\/0\/alternet~Corporate-Profits-Have-Grown-By-Percent-Under-Obama-Highest-Rate-Since"},"modified":"2013-01-17T19:15:48","modified_gmt":"2013-01-17T18:15:48","slug":"corporate-profits-have-grown-by-171-percent-under-obama-highest-rate-since-1900","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/latest-news\/corporate-profits-have-grown-by-171-percent-under-obama-highest-rate-since-1900\/","title":{"rendered":"Corporate Profits Have Grown By 171 Percent Under Obama — Highest Rate Since 1900"},"content":{"rendered":"

Business executives like to portray the Obama administration as the \u201c<\/span> most anti-business<\/a>\u201d in history, creating an \u201c<\/span> increasingly hostile environment<\/a>\u00a0for investment and job creation.\u201d However, the data\u00a0<\/span> tells a far different story<\/a>. According to a Bloomberg News analysis, corporate profits have\u00a0<\/span> grown by 171 percent under Obama<\/a>, the most in the post-war era:<\/span><\/p>\n

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U.S. corporations\u2019 after-tax profits have grown by 171 percent under Obama, more than under any president since World War II<\/strong>, and are now at their highest level relative to the size of the economy since the government began keeping records in 1947, according to data compiled by Bloomberg.<\/p>\n

Profits are more than twice as high as their peak during President Ronald Reagan\u2019s administration<\/strong>\u00a0and more than 50 percent greater than during the late-1990s Internet boom, measured by the size of the economy.<\/p>\n<\/blockquote>\n

Average annual corporate profit growth under Obama is the highest since 1900<\/a>, whereas profit growth declined during both Bush presidencies. As a share of the economy, corporate profits have never been higher.<\/p>\n

Unfortunately, this profit deluge has not been shared by workers, whose wages as a percentage of the economy have fallen to all-time lows<\/a>. Workers also got dinged by the recent increase in the payroll tax, which was large enough to wipe out a minimum wage increase<\/a>\u00a0in some states.<\/p>\n

Pat Garofalo is economic policy editor for ThinkProgress.org<\/a>. His writing has also appeared in the Nation, the Atlantic, U.S. News & World Report, and other publications. Follow him on Twitter at @Pat_Garofalo.<\/div>\n<\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Business executives like to portray the Obama administration as the \u00e2\u20ac\u0153 most anti-business\u00e2\u20ac\u009d in history, creating an \u00e2\u20ac\u0153 increasingly hostile environment for investment and job creation.\u00e2\u20ac\u009d However, the data tells a far different story. <\/p>\n","protected":false},"author":1213,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[487,52,18],"tags":[],"class_list":{"0":"post-21468","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-breaking-news","7":"category-money","8":"category-latest-news"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/21468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1213"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=21468"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/21468\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=21468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=21468"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=21468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}