If you listen to those wacky conservatives, President Obama is a threat to economic prosperity because he is destroying the profitability of American business. According to them, it is more than obvious the man is a dyed in the wool socialist bent on destroying American economic might from the inside out! Since this is so readily apparent, economic statistics back them up on this accusation?
In a word, no. In fact, the answer is a resounding, HELL NO!
As Robert Oak reports,
The BEA released corporate profits for Q2 2013 along with GDP. Corporate profits after tax increased 2.6% from Q1 2014 to $1,830.4 billion. Corporate profits after tax are also up 5.8% from a year ago. Corporate profits as a percentage of GDP are at an all time high and after tax profit margins per unit are also soaring to the stratosphere.
Corporate profits after tax just hit a record high as a percentage of GDP, while wages are at their lows as a percentage of nominal gross domestic product. Workers are clearly getting less and less of the American economic pie, while corporate profits continue to soar.
Did you get that? While conservatives moan that capital is severely constrained, the truth of the matter is the exact opposite.
So, what should this tell us? Almost all the complaints boil down to one word: G-R-E-E-D. The greedy bastards aren't satisfied with raking in all-time highs. They want to set new records as fast as they can. And it's not like Obama's economic policies are hindering them!