Hydroxy aromatic compound containing sulfur and an organic phosphonate as polymer antioxidant

A polymer composition having improved resistance to oxidation comprising a polymer susceptible to oxidation and an anti-oxidant effective amount of a composition comprising a non-metallic hydroxy aromatic compound having at least one sulfur atom attached to an aromatic carbocyclic ring and an organic phosphonate compound having the general formula ##STR4## wherein any two or all three of R, R', and R" may be the same or different and may contain further phosphonic moieties and wherein R is independently selected from the group consisting of substituted and unsubstituted alkyl, alkenyl, aryl, aralkyl, alkylaryl and triazine and wherein R' and R" are independently selected from the group consisting of substituted and unsubstituted alkyl, alkenyl, aryl, alkylaryl, aralkyl and triazine wherein R' and R" can be linked together to form a ring.