Between the second quarter of 2009 and the fourth quarter of 2010, our nation’s total income rose by $528 billion. Of that economic growth, $464 billion went to pretax corporate profits. Just $7 billion went to wages and salaries. In other words, 88% of the brief recovery went to corporate profits and just 1% — that’s right, 1% — went to workers, according to a study by economists at Northeastern University. By contrast, when the United States was recovering from a downturn in the early 1990s, 50% of the growth in the national income went to wages and salaries.
Read the full article by Sally Kohn here: Time to raise taxes on the rich