Corporate Profits are at an All-Time High, Proving that Trickle-Down Economics is a Sham

trickledownshamOver and over again, we’ve heard the repeated assertions from GOP politicians and media pundits that President Obama is killing the economy. Every jobs report, no matter how good, is touted as proof of their claims that they are right and only by doing things their way will we have jobs for everyone. Only by doing things their way will the wealth finally trickle down as they’ve promised for decades. Some of the more extreme and mentally unstable ones even believe the President is somehow a secret Muslim fascist communist sent by George Soros or the KGB to destroy capitalism as we know it, among many other incredibly bizarre conspiracy theories.

Put aside the completely insane rants of people like Michele Bachmann, Rush Limbaugh and all the other right-wing attention whores, and you still have mainstream Republican politicians constantly chirping the narrative that the President is destroying the economy, killing jobs and that we are headed for irrelevance on the world stage. Of course, under their policies that’s exactly where we would end up, but you kind of have to give them credit for being able to keep propping up a lie this big and getting so many people to believe it.

Here’s a few facts that slide past the useful idiots who lap up every lie fed to them every day on Hannity, Limbaugh or other conservative media sources.

1. The stock market is at a record high. Under no other administration has it been at the level it is now.

2. The unemployment rate is at 7.6% as of June 2013 and the private sector has continued to add jobs.

3. Corporate profits as a percentage of GDP are at an all time high.

So, conservatives now have to make a choice. Either Obama is a complete failure as a secret agent of a foreign entity sent to destroy capitalism, or it’s time to admit that “trickle-down” economics doesn’t work. Because if it did work, we would be swimming in a sea of wealth and high-paying jobs — but we’re not. What “trickle-down” has actually created is a “trickle-up” economy in which corporate profits have swelled into offshore tax shelters and an ever-shrinking tax base which has helped increase our national debt. For people who claim to be business and finance savvy, they sure seem to be completely incapable of reading economic numbers. But I suppose that’s what happens when you turn off your brain and get all of your information from the kings of “Bullshit Mountain.”

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