How Working People Benefit from Corporate Profits
Almost every day, we hear complaints about corporate profits: about oil companies with windfall earnings, about pharmaceutical companies with monopolies on new drugs, and many others.
But, do you know who owns the corporations that make those big profits?
Well, you’re probably one of them. If you belong to a pension plan, invest in mutual funds, or own a whole life insurance policy, you’re one of the capitalists getting those huge profits.
Working people — through those pension funds, mutual funds, and insurance companies — now own much, if not most, of big business. Simply put, modern corporations exist to make it possible for you and me to enjoy a retirement income beyond what the government pays.
Actually, many government pension funds now invest in corporations, too, so even your government pension may depend in part on corporate profits.
This blog explores the connections among working people, corporate profits, and pensions (retirement income, whether formal pensions or not). As the title of the blog suggests, I’m interested in the ways that working people get the profits of big corporations through their pension plans: People, Profits, Pensions.
Tags: corporate profits, pensions
