Obama Vs Bush On Income Inequality Growth

Via Naked Capitalism: "...under Bush, the 1% captured a disproportionate share of the income gains from the Bush boom of 2002-2007. They got 65 cents of every dollar created in that boom, up 20 cents from when Clinton was President. Under Obama, the 1% got 93 cents of every dollar created in that boom. That's not only more than under Bush, up 28 cents. In the transition from Bush to Obama, inequality got worse, faster, than under the transition from Clinton to Bush. Obama accelerated the growth of inequality. The data set is excellent, it's from the IRS and it's extremely detailed. This yawing gap of inequality isn't an accident, and it's not just because of Republicans. It's a set of policy choices...".* The Young Turks host Cenk Uygur breaks it down.



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[greg]

Hey, Cenk, this was a really brilliant and instructive analysis. Best thing I've seen in a while.

[ValladaresJames]

They have no formal definition of "terrorist, " And according to the FBI protesting is considered a form of terrorism. Also any dissent of the government can get you labeled a terrorist.

[dangerouslytalented]

There is also a statistical factor, where the richest lost a LOT of money in the crash just before the election, and the richest got all of it back (and then some) when they recieved most of the benefits of the recovery.

[TheRoyalFreshness]

All i'm saying is; nothing that Ron Paul advocates violates the powers delegated to the federal government via the Constitution. He is its most vociferous defender. After all, he is just honoring his oath to support and defend it. Few others do that either. The problems that have beset the US can be traced directly to the elected officials, judges and Presidents violating its provisions for about 100 years.

[mwazit]

8 week paid vacation, free maternity leave, free healthcare, medicare, smallest income gap in the world. ugh, must move to Europe.

[dustmundo]

Representative Paul has stated very clearly that our whole banking system needs to be completely overhauled...radically. Regulating the current system is a joke.

[ValladaresJames]

Well technically he can still be a socialist, because that gives more of the peoples money to the government, which is actually corporations and the elites.

[rg]

Thanks for giving us your opinion Cletus.

[AmericanMuscleCarSS]

Yes, having a balance in government is absolutely an awful idea. The government should be absolutely enormous with unlimited power, and they should control all aspects of life. That has never gone wrong before.

[ValladaresJames]

According to the government you could be labeled a terrorist if your try to hide your screen at an internet cafe.

[kenssto]

Both our Political parties have moved to the left. Republicans and Democrats. The result has been more govt red tape, more govt debt, more waste, less jobs. 48% of Americans receive some form of Govt assistance. We are nearly at a tipping point. Also 49% pay NO Federal Income taxes. There are other taxes.. sales tax, SS Tax etc. that they do pay.
Government is not the solution to the problem, Govt IS the problem. Ronald Regan
Maybe we and you should try moving to the RIGHT instead.

[AmericanMuscleCarSS]

Considering the enormous amounts of funds that could be generated, it would certainly do a lot to help, and set us on a path to free the nation of debt in the future.

If we don't do anything, the problem will never be fixed. Obviously, giving out tax breaks left and right does not work as an economic model.

The economy is nearly about to implode on itself.

[spacewolf]

I wouldn't say he's secretly a republican. It's just pointing out how conservative that even democrats have become over the last decade.

[mify]

sadly, we the majority and poor cant expect a few rich people to look after us and not get screwed over, we prostituting ourselves.

[AmericanMuscleCarSS]

Yes, give them 2 to 3 more years of tax holidays! That is brilliant. We totally have not been doing that for more than a decade now. And we are totally not in the economic shitter right now.

[tetsubo]

Anyone that tells me Obama is liberal, let alone a socialist I dismiss as irrelevant. He's about as 'liberal' as Nixon. Forty years ago he would have been a Republican. And yet he is still a better choice than the current Rep. party.

[MrDrakkus]

You've got to be joking. The reason that demand is so low is because nobody has any money. Even those people who have jobs are struggling just to make ends meet. Why? Because every bit of the money that's being put into the economy is going straight to the fat cats, and nearly none of that is "trickling down" back to the rest of us. With nobody being able to buy anything, there's no circulation and everything just grinds to a halt. How can you not see that?

[mwhitten]

All they mean was that we were in a recession, now we are out of the recession. During the next quarter, if we are back in a recession, everyone will start blaming the other party and/or the president again.

[alex]

but progressives, socialists, and communists have been proven right because of the fact that having more government regulation and higher taxation with a low inequality and a well funded public sector makes the country better.

[Codylupardus]

If bad health and decreased standards of living for almost everyone is "a good thing", then yes.