Ending Poverty in America, by John Edwards: on Corporations

Record corporate profits don’t benefit tenuous middle class

Millions of families have only the most tenuous hold on their middle-class status. While corporate profits have increased over the last several years, most working Americans have not reaped the benefits. Median household income fell by 2.7% between 2000 and 2005 after inflation. Corporate profits now make up a larger portion of America’s gross domestic product than at any other time since the1960s. In contrast, salaries and wages now make up a lower share of the economy than they have at any time since the government began recording the data in 1929. The rate of upward mobility--the core of the American dream--is stagnant or even declining. Source: Ending Poverty in America, by John Edwards, p.263-264 Apr 2, 2007

The above quotations are from Ending Poverty in America How to Restore the American Dream, edited by John Edwards, Marion Crain, and Arne Kalleberg. Click here for definitions & background information on Corporations. Click here for other issues (main summary page). Click here for more quotes by John Edwards on Corporations.
*Candidates and political leaders on Corporations:*
*Incoming Obama Administration:* Pres.:Sen.Barack Obama V.P.:Sen.Joe Biden State:Hillary Clinton Staff:Rahm Emanuel Treas.:Tim Geithner DoD:Robert Gates A.G.:Eric Holder DHS:Janet Napolitano DoC:Bill Richardson	*Outgoing Bush Administration:* Pres.:George Bush V.P.:Dick Cheney A.G.:John Ashcroft(2005) DEA:Asa Hutchinson(2005) USDA:Mike Johanns(2007) EPA:Mike Leavitt HUD:Mel Martinez(2003) State:Colin Powell(2005) State:Condoleezza Rice HHS:Tommy Thompson(2005)	*2008 Presidential contenders:* AIP: Frank McEnulty Constitution: Chuck Baldwin GOP: Sen.John McCain GOP VP: Gov.Sarah Palin Green: Rep.Cynthia McKinney Independent: Ralph Nader Liberation: Gloria La Riva Libertarian: Rep.Bob Barr NAIP: Amb.Alan Keyes Socialist: Brian Moore
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