Since the end of the 2008 recession, corporate profits have grown much faster than wage and salary incomes. These trends have been great for the US stock market -- but not great for our overall economic growth or government budgets: roughly 70% of the US economy is based on consumer spending, and the vast majority of government receipts come from individual income taxes, retail sales taxes or property taxes on private homes.
May 8, 2013
7:00 pm