There are a couple of interesting aspects to this figure.
1. All groups did BETTER under Democratic presidents than republican presidents.
2. All groups did about equally well under Democratic presidents.
3. The 95th percentile group did well under both groups. Lobbying works.
4. The 95th percentile group did about 5 times as well as the 20th percentile group under republican presidents.
5. It is possible to have prosperity (high growth) and equality between income groups...at least with a Democratic president.
Here is Rachel Maddow discussing this figure.
In the following clip Rachel discusses the implications of this figure with Ezra Klein. It is a little long, but very interesting.
But let's give credit where credit is due. The republicans are good at something. They are good at building wealth. Not so good at building the economy, but good at building wealth. The rich are certainly getting richer. But look at how they do it. They do it by creating debt. Lately it has been the Bush tax cuts coupled with two unending wars, all debt creators, not economy builders. Neither the tax cuts nor the wars were paid for. Instead, the money was given to the wealth. Now they want to add another $700 billion in gifts to the wealthy.
It is time for the Democrats to say NO!
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The way I understand the tax cuts for the wealthy is that they are suppose to expire [die] this year.
ReplyDeleteIf they are extended then they must find a way to pay for them.
How will this be done?
How will the repubs explain [spin] this?
Their lame excuse that these tax cuts will provide jobs is null and void.
It seems this will be the main focal point going into November.
Does this tell you something about our country?
The Kleptocracy rolls on, as our government is more corrupt, and dysfunctional.
Another job well done by Rachel and you Jerry!
ReplyDeleteThe economy does better under Democratic Congresses too. NOBODY but the ultra-rich should be voting Republican this fall!
ReplyDeleteThe economy does better under democrats, salaries go up more under democrats, and the stock market performs better under democrats....
ReplyDeleteBut taxes are lower, regulations are less, and darn, its just easier making money when the republicans are in....they start wars and give you contracts....
Besides the big funders of the republicans are actually oil companies (Koch Industries for example) and no one is better for oil than a Republican especially if you can get one from TEXAS!
A Republican from Texas is a dream come true! A Homerun in the politican buying world...
But let's give credit where credit is due. The republicans are good at something. They are good at building wealth. Not so good at building the economy, but good at building wealth So.. all those teabagging idiots are wealthy or just stupid?
ReplyDeleteYou called it, Dusty. Idiots = stupid.
ReplyDeleteI vote for stupid, although I'd qualify that with modifiers like "deluded" and "racist."
ReplyDeleteWhen Republicans are in control nothing trickles down. Millionaires wealth gushes up. The economy gushes down. The Teabaggers are fools to support the party that governs on behalf of 1% of the people.
ReplyDeleteVery nicely explained.. !!
ReplyDelete