Corporate Profits' Share of Pie Most in 60 Years

http://www.thepeoplesvoice.org/TPV3/Voices.php/2011/08/08/corporate-profits-share-of-pie-most-in-6

August 8th, 2011 By MarketWatch

WASHINGTON (MarketWatch EXCEPTED) — "It’s not news that Wall Street is doing much better than Main Street, but we didn’t know just how much better until the government updated the economic statistics going back to 2008.

Here’s the grim report that will surprise no one who’s been paying attention the past three years: The fat cats are fatter than we thought, and the incomes of regular folk are worse than we thought.

Profits account for a larger share of GDP than at any time in the past 60 years.

As part of its regular revisions to the national income accounts, the Commerce Department told us Friday that corporate profits in 2008, 2009 and 2010 were actually $343 billion higher than earlier estimated.

And personal incomes of American families were $265 billion lower over those three years than previously estimated....

...Corporate profits now account for the largest share of gross domestic product since 1950 — 12.6%. Wages and salaries account for the smallest share of GDP since 1955 — 54.9%..."

MAJIA HERE: Think about the numeric distribution here given the number of corporations versus the number of citizens in the nation...