What's behind the attacks on working people?
The modest pensions and health benefits we have earned, the pay that supports our families, the improved conditions for our patients did not deplete public treasuries or jeopardize the survival of our employers. The banks and other financial giants did - and were rewarded with bailouts and bonuses while our communities pay the price. Over the past 30 years, while wages have fallen or stagnated and insurance premiums and other basic costs skyrocketed, wealth has been shifted from working families to Wall Street. It's not shared sacrifice when only working people make concessions.
- Corporate taxes are at historical lows. Yet $1.6 trillion, corporate profits for the third quarter of 2010 were the highest on record.
- Hospitals nationally recorded $34 billion in profits in 2009, the second highest ever.
- 42 percent of U.S. companies paid no U.S. income taxes for two or more years from 1998 to 2005.
- The average CEO who was paid $27 for every dollar earned by an employee 25 years ago now gets a ratio of about $275 to $1.