Attention Occupy Wall Street protestors: The rich get richer and the poor become poorer under liberal policies. From the Investor’s Business Daily:
In his weekend radio address, President Obama decried that “over the past three decades, the middle class has lost ground while the wealthiest few have become even wealthier.” Although he was trying to leverage the Occupy Wall Street movement, the income gap has been a longstanding concern of his.
During the 2008 campaign, Obama said, “The project of the next president is figuring out how do you create bottom-up economic growth, as opposed to the trickle-down economic growth that George Bush has been so enamored with.”
But it turns out that the rich actually got poorer under President Bush, and the income gap has been climbing under Obama …
The wealthiest 5% of U.S. households saw incomes fall 7% after inflation in Bush’s eight years in office, according to an IBD analysis of Census Bureau data. A widely used household income inequality measure, the Gini index, was essentially flat over that span …
In contrast, the Gini index rose — slightly — in Obama’s first two years. Another Census measure of inequality shows it’s climbed 5.7% since he took office.
If income inequality is really a concern for you, then you should support conservative policies: lower taxes, lower government spending, lower entitlement spending, and an end to corporate welfare and crony capitalism.
Since income inequality was also high under Reagan, I know that my analysis is oversimplified. One factor which can cause income inequality is economic growth. The US showed a great deal of economic growth during the Reagan, Clinton, and Bush 2 administrations, but little growth during the Bush 1 and Obama administrations. Thus, income inequality had a close correlation with economic growth in all but the Bush 2 and Obama administrations. The reason the correlation fails during these two administrations can be related to be their policies. In short, the conservative administration of George W. Bush was infinitely fairer than the liberal administration of Barack Obama.
- The truth about income inequality (powerlineblog.com)
- Why yes, income inequality is a problem (hotair.com)
- What If Everything The Left Has To Say Is Pure Crap? UPDATE: A Shiny New Word (theothermccain.com)
- SOCIALIST AMERICA – Obama’s Education Chief Says Student Loan Bailout Will Address Income Inequality (politicons.net)
- JAMES PETHOKOUKIS: 5 reasons why income inequality is a myth – and Occupy Wall Street is wrong. … (pajamasmedia.com)