Conservative economic policies are killing the middle class. It is class warfare and the average American is clearly losing.
Republican economic policies are based on proven fallacies like 'trickle-down', and 'higher taxes kill jobs,' 'taxes hurt the economy,' ... etc. Bush cut taxes and had the worst job creation record of any modern president. The Bush tax cuts were not supposed to last forever. Alan Greenspan, whose endorsement was perhaps the single most decisive event in their passage, made it very clear that they were a temporary solution to a temporary surplus, a surplus thanks to the Clinton administration.
66% of all income growth during the Bush years has been enjoyed by the top 1%. That is who the GOP is fighting for, against every poll that shows Americans feel the rich are not taxed enough.
For 6 of his 8 years as president, Reagan taxed the top 1% far MORE than Obama has proposed. But Mr. Black President is a ‘socialist’. The effective tax rate vs GDP was 18% under Reagan compared to 14.8% today. The GOP has piled on to the crazy wagon. They are invested in the failure of America. Their only objective is to bring Obama down, even if it means crippling the American economy.
Conservative economic policies are killing the heart of America – the middle class. Yes, it is class warfare and the average American is clearly losing.
66% of the income growth between 2001 and 2007 went to the top 1% of all Americans.
Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
n 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
The top 1% of U.S. households own nearly twice as much of America’s corporate wealth as they did just 15 years ago.
Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.
83 percent of all U.S. stocks are in the hands of 1 percent of the people.
61 percent of Americans “always or usually” live paycheck to paycheck, up from 43 percent in 2007.
Approximately 21 percent of all children in the United States are living below the poverty line in 2010 – the highest rate in 20 years
43 percent of Americans have less than $10,000 saved up for retirement