Corporate Profits Were the Highest on Record Last Quarter

[onehandle]

Source: New York Times

The nation’s workers may be struggling, but American companies just had their best quarter ever.

American businesses brought in $1.66 trillion in the three months that ended in September, according to a Commerce Department report released Tuesday. That is the highest figure recorded since the government began keeping track over 60 years ago, at least in nominal or non-inflation-adjusted terms.

Corporate profits have been going gangbusters for a while. Since their cyclical low in the fourth quarter of 2008, profits have grown for seven consecutive quarters at some of the fastest rates in history.

This breakneck pace can be partly attributed to strong productivity growth — which means companies have been able to make more with less — as well as the fact that some of the profits of American companies come from abroad. Economic conditions in the United States may still be sluggish, but many emerging markets like India and China, are expanding rapidly.

Read more: http://www.nytimes.com/2010/11/24/business/economy/24econ.html

[fasttense]

1. Since most corporations pay 0 taxes, I bet they are swimming in our money.

They don't pay taxes, and frequently receive returns on taxes they never paid. Their CEOs are never prosecuted when they commit crimes (a few show trials are put out there but mostly nothing happens to them). They buy up all the influence and capture our government. When they fail, we the real tax payers, bails them out. They kill, poison and maim citizens with no repercussions, They dump their waste all over our country for free. You would have to be the biggest idiot in the world NOT to make a huge profit in this environment.

Welcome to fascism. It's here to stay. Thank a RepubliCON politician the next time you see them.

[fencesitter]

3. But, but according to my new congressman...

The U.S. has the highest corporate tax rate in the world! The WORLD! Tyranny!

[Ikonoklast]

6. And more loopholes, depreciation schedules, tax write-offs, etc.,

than all the 'lower tax' countries.

The biggest lie ever told is that corporate taxation in this country is too high.

[dkf]

5. Well no one is forced to buy products sold by corporations...

Oh wait except for healthcare.

But other than that I'm sure we can find a nice mom and pop store or farmers market to spend money at.

[xchrom]

2. we oughta get a group prom pic of these 'welfare queen' winners. nt

[somone]

4. Corporate Profits ---> CEO compensation

Everyone else, work harder!

[Enrique]

7. send this to every Democrat

demand that they make this the center-point of all their rhetoric on the economy.

[saigon68]

8. Corporate Prostitutes servicing the rich

Your Blue dogs at work

Yes you too Joementum

[FreeStateDemocrat]

9. Why then are the financial markets down over 1% right now, shouldn't they be having a party?

Or did the greedy little bastards expect more and more and even that ain't enough?

[bergie321]

17. Because

Of the insider trading investigations mostly.

[groundloop]

10. You'd think hiring would be picking up. My gut says something's going on....

I read reports that say corporations are "too nervous" about the economy to do much hiring, yet here we see their record profits. IMHO one of two things is happening. Either these large corporations are deliberately playing games to attempt to ensure repuke victories in 2012, or the gloom and doom talk by the repukes and MSM (again, aimed at ensuring repuke victory) is having a chilling effect on HR managers.

Or, I guess both those theories could be wrong and we're seeing pure and simple greed.

[Enrique]

11. they're squeezing us

squeezing workers for every last drop of productivity, and squeezing the government for every possible benefit.

This is why we need unions, so there's a limit to how much they can squeeze the workers.

[zeemike]

14. Or they could be not hiring at least in this country.

We are being downsized....and when they need labor they just get it from the lowest bidder.

[disillusioned73]

21. Ding, ding, ding... we have a winner

my company is still bringing in those shipment from China.... and yet all the teabaggers in our shop don't make the connection - it's quite pathetic to watch.

[tomg]

15. I suggest a third.

Basically, it is blackmail. Corporations get their breaks. They get the conditions They want. They get privatization, union busting, lower tax rates, or they simply won't budge. They are too "nervous" my ass. Why hire when you have the profits and the productivity. If the country needs "hiring," they can pay for it by essentially turning American workers into unprotected, rightless, third-world-like workers.

It is, in other words, the corpratists asserting their ownership of us. Fuckers.

[Winterblues]

12. Hmmmm elect a Democratic President and Corporate Profits SOAR

And no one notices.. they still Credit Reagan and Blame Clinton and now Obama...America is becoming unbearably stupid IMO..

[Enrique]

13. Obama seeks to counter anti-business image

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x530823

[sarcasmo]

16. Corporate America, we are what we are a nation of Corporations.

[ChoppinBroccoli]

18. And They're STILL Not Hiring. Maybe If We Gave Them A Few MORE Tax Breaks.........

Anyone who STILL believes that bending over for corporations = more jobs seriously needs to have his/her head examined for bad wiring.

[TheWatcher]

19. How is the Average American Worker doing?

Oh that's right, far too many of them are still not working.

Nice Propaganda, though.

[bushisanidiot]

20. Senate republicons: GIVE THEM TAX BREAKS

because the uber rich just aren't RICH ENOUGH.

[Blue_Tires]

22. and they still aren't hiring....