This blog post first appeared on BillMoyers.com.
By Hedrick Smith
Before you gulp down your favorite champagne to celebrate Wall Street’s new stock market highs, remember that we are two Americas: The nation’s economic divide is costing us all dearly in terms of lost jobs and growth and is fueling the angry, gridlocked politics in Washington.
As The New York Times reported Monday, corporate profits have been skyrocketing ever since 2008 -– rising an average of 20.1 percent a year for four years in a row. But out on Main Street, average household incomes have risen only 1.4 percent a year. CEOs and big investors have been hogging the profits…
See the entire piece at BillMoyers.com.
Tags: Op-Eds & Reviews