The financial sector receives more of the average paycheck than any other sector of the economy. Its share of the economy totals $2 trillion dollars. In 1985, the financial sector earned less than 16% of domestic corporate profits. Today, it’s over 40%. In the 1960s, finance and insurance accounted for only 4% of GDP, whereas in 2007 […]
The financial sector primarily backed Romney in 2012 after having supported Obama in 2008.
Required viewing for anyone who does not yet understand the complicated mechanism by which the banking system transfers wealth from those at the bottom to those at the top.
The average household in America had to shell out around $2000 to make sure that AIG’s counter-parties wouldn’t have to accept the risks they took.
We’re taxing successful, competently run businesses to subsidize irresponsible, poorly run businesses. Until we realize this simple fact, the previous trend of increased productivity and standards of living will only be a memory.