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Corporate Profits Have Grown By 171 Percent Under Obama

Picture: Flickr user borman818 (CC)

Pat Garafalo at Think Progress makes an interesting point. While those poor, downtrodden elites like to brand the Obama administration as the “most anti-business” in history, the data tells a far different story.

According to a Bloomberg News analysis, corporate profits have grown by 171% during the Obama era:

U.S. corporations’ after-tax profits have grown by 171 percent under Obama, more than under any president since World War II, 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.

Profits are more than twice as high as their peak during President Ronald Reagan’s administration and more than 50 percent greater than during the late-1990s Internet boom, measured by the size of the economy.

This profit growth is the highest since 1900, while wages have stagnated and the same powerful people have fought to keep the minimum wage down in some states.… Read the rest

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