Jerry Moran: “Corporate profits have now reached historically high levels--$2 trillion just in the last two quarters. But most of that…”

“Corporate profits have now reached historically high levels--$2 trillion just in the last two quarters. But most of that profit comes from reductions in personnel and benefit costs which are at a 50-year low as a percent of our economy. This is one of the reasons why the richest 1 percent earn as much as the bottom 60 percent and have as much wealth as the bottom 90 percent of Americans. Tax cuts for the richest, as the House majority demands, is only going to widen this historic disparity. The President's Jobs Act, though, will help to close this gap. Madam Speaker, we're losing our middle class. Our country is becoming divided between the very rich and the rest. That may be good for the financial base of the Republican Party, but it's bad for America. The private sector will start to hire when the public sector shows it has sufficient faith in our future to adequately invest in the physical and the human infrastructure of this country. It takes money, but the future of our middle class is worth it. ____________________”