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Fortune magazine reports on corporate revenue:

Last year, Fortune 500 sales fell 8.7% to $9.8 trillion, the largest percentage decline since 1983.

And yet profits soared:

For 2009, the Fortune 500 lifted earnings 335%, to $391 billion, a $301 billion jump that’s the second largest in the list’s 56-year history….The 500’s profits virtually returned to normal after years of extremes — bubbles in 2006 and 2007, collapse in 2008 — despite a feeble overall recovery that’s far from normal.

So corporate profits tripled during a recession year in which sales fell 8.7%. Has that ever happened before? The key to this, of course, was layoffs: “In 2009, the Fortune 500 shed 821,000 jobs, the biggest loss in its history — almost 3.2% of its payroll.” In other words, we have now been through a recession in which, essentially, nobody has really suffered except for all the workers who have been let go. Wall Street is doing great. Corporate profits are doing great. The stock market is recovering. Is it any wonder that Republicans don’t really care about any further fiscal stimulus? Their constituency is doing fine, thankyouverymuch.

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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