Exxon-Mobil Profits Up 250% Since 2000, American Worker Wages Stagnant
Exxon-Mobil Profits Up 250% Since 2000, American Worker Wages Stagnant
The winners and losers of the Bush years are now clear.
Today, Exxon-Mobil announced third quarter profits of $14.83 billion, the most profitable three months of any U.S. company in history.
These profits represent annual profits over 250% of the levels at the beginning of the Bush years. Over the same period, real average wages for the American worker have stayed essentially flat, growing only 2% over eight years.
Real median household income was lower in 2007 (last data available) than it was in 2000, after growing 13% from 1992 to 2008.
These huge oil company profits come even as the American economy has shrunk 0.3% and slides into recession.
John McCain’s plan to solve this crisis? A budget busting tax plan that would give a $1.2 billion tax break to Exxon-Mobile ($4 billion for America’s largest oil companies) and give nothing to over 100 million Americans.
2 Responses to “Exxon-Mobil Profits Up 250% Since 2000, American Worker Wages Stagnant”
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The pimping CorporaWhorehouse on Pennsylvania Avenue cranked up supply of Corporafornication to meet soaring demand. It looks remarkably like the ExxonMobil profit curve above.
George W. Bush takes care of his own.
October 30th, 2008 at 2:47 pmThis is some interesting data. Times are scary, no? The U.S. economy has surely taken quite a hit over the past few months. Many people are still confused with the state of the economy — and where the candidates stand in regard to fixing it. With a recession and the need for reform on the minds of a majority of Americans, I thought you might be interested in two non-partisan guides we’ve put together here at Public Agenda on the economy (http://publicagenda.org/citizen/electionguides/economy) and taxes, spending and debt (http://publicagenda.org/citizen/electionguides/taxesdebt). Feel free to check these out and get back to me with any questions. Thanks again for an informative piece!
October 30th, 2008 at 3:08 pm