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In reply to the discussion: President Obama has done more to help the poor and middle class than any President since LBJ [View all]ljm2002
(10,751 posts)151. "Still, the links related to decades of inequality "...
..."have nothing to do with the President's policies."
OFFS. Okay let's go over this:
Link #1: http://www.democraticunderground.com/1014400736
"Incomes rose more than 11 percent for the top 1 percent of earners during the economic recovery, but barely at all for everybody else, according to new data."
http://www.nytimes.com/2013/02/16/business/economy/income-gains-after-recession-went-mostly-to-top-1.html
http://www.nytimes.com/2013/02/16/business/economy/income-gains-after-recession-went-mostly-to-top-1.html
Link #2: http://www.democraticunderground.com/10022384139
Top 1% get 121% of income gains since 2009 (100% of new income + 21% from your old income)
A new paper by Emmanuel Saez (...) estimates that the income gains to the top 1% from 2009 to 2011 were 121% of all income increases. How did that happen? Incomes to the bottom 99% fell by 0.4%.
http://www.nakedcapitalism.com/2013/02/yes-virginia-the-rich-continue-to-get-richer-the-1-got-121-of-income-gains-since-2009.html
http://www.nakedcapitalism.com/2013/02/yes-virginia-the-rich-continue-to-get-richer-the-1-got-121-of-income-gains-since-2009.html
Link #3: http://www.democraticunderground.com/10021922334
U.S. corporate profits stronger than ever, workers' wages fallen to lowest-ever share of GDP (CNN)
Just four years after the worst shock to the economy since the Great Depression, U.S. corporate profits are stronger than ever.
(...) That took after-tax profits to their greatest percentage of GDP in history.
A separate government reading shows that total wages have now fallen to a record low of 43.5% of GDP. Until 1975, wages almost always accounted for at least half of GDP, and had been as high as 49% as recently as early 2001.
http://money.cnn.com/2012/12/03/news/economy/record-corporate-profits/
(...) That took after-tax profits to their greatest percentage of GDP in history.
A separate government reading shows that total wages have now fallen to a record low of 43.5% of GDP. Until 1975, wages almost always accounted for at least half of GDP, and had been as high as 49% as recently as early 2001.
http://money.cnn.com/2012/12/03/news/economy/record-corporate-profits/
(this one you could reasonably argue is due to long term trends; however, the facts are that (a) corporate profits are at a record high % of GDP; (b) wages are at a record low % of GDP; and (c) both of these all-time record figures occurred on Obama's watch).
Link #4: http://www.democraticunderground.com/10022268073
U.S. Income Inequality Now Worse Than Many Latin American Countries
The share of income for the top 1 percent in the United States has grown more than any other Western country since 1960, according a paper by Thomas Piketty of the Paris School of Economists and Emmanuel Saez of the University of California at Berkeley published last year.
http://www.huffingtonpost.com/2013/01/27/us-income-inequality-wors_n_2561123.html?utm_hp_ref=politics&ir=Politics&ncid=edlinkusaolp00000009
http://www.huffingtonpost.com/2013/01/27/us-income-inequality-wors_n_2561123.html?utm_hp_ref=politics&ir=Politics&ncid=edlinkusaolp00000009
(this one is definitely discussing long term trends; and while we know that the trend is accelerating -- see excerpts from the next link -- this article doesn't go there)
Link #5: http://www.democraticunderground.com/10022200197
Ranks of working poor increasing
Although many people are returning to work, they are often taking jobs with lower wages and less job security, compared with the middle class jobs they held before the downturn, according to a report released Tuesday by the Working Poor Families Project (...)
And 37 percent of the nations children 23.5 million were part of working poor families in 2011, the report said, up from 33 percent in 2007.
In 2011, the top fifth of working families had incomes that were 10.1 times greater than those in the bottom fifth of income earners. In 2007, the top fifth of working families earned 9.5 times those in the lowest fifth.
http://www.washingtonpost.com/business/economy/ranks-of-working-poor-increasing/2013/01/15/8d1f51e2-59b9-11e2-88d0-c4cf65c3ad15_story.html
And 37 percent of the nations children 23.5 million were part of working poor families in 2011, the report said, up from 33 percent in 2007.
In 2011, the top fifth of working families had incomes that were 10.1 times greater than those in the bottom fifth of income earners. In 2007, the top fifth of working families earned 9.5 times those in the lowest fifth.
http://www.washingtonpost.com/business/economy/ranks-of-working-poor-increasing/2013/01/15/8d1f51e2-59b9-11e2-88d0-c4cf65c3ad15_story.html
Emphasis mine, to highlight the time periods under discussion in each linked article.
That's just the first 5 links. They are all relevant to this discussion and 4 out of 5 are directly relevant to President Obama's time in office. You can't just dismiss this factual information. There is clear evidence that the President's policies have been, at the very least, ineffective in preventing an accelerating trend of income inequality in this country.
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President Obama has done more to help the poor and middle class than any President since LBJ [View all]
ProSense
Apr 2013
OP
For some reason the Rec button isn't working. But K & R. Great data, as always.
freshwest
Apr 2013
#170
But he helped the rich even more - Income gap between rich, middle class, and poor widens
Tierra_y_Libertad
Apr 2013
#9
That was the trajectory of wealth inequality way before Obama ever took his first oath.
phleshdef
Apr 2013
#16
Yup. I often post the body of a piece and then edit the links in immediately afterward
woo me with science
Apr 2013
#133
Well said, Whisp. The fact that we have endured this idiotic panicking bullshit on the same topic
Number23
Apr 2013
#76
And as the president's zombie horde of mindless detractors constantly remind us
Number23
Apr 2013
#119
Could be, but all that water swirling around is the sound of the toilet flushing it all away
Jersey Devil
Apr 2013
#41
LOL, Ok, here comes the PR to try to make the SS complaints go away. Have you made ONE POST....
Logical
Apr 2013
#57
I respond to lots of posts. Don't give yourself so much credit. I am shocked.....
Logical
Apr 2013
#59
Sometimes your posts make no sense. Like this one. But your laughing icon is really clever. n-t
Logical
Apr 2013
#67
Look on the bright side. I am kicking your posts so you don't have to! Win Win for you. n-t
Logical
Apr 2013
#70
Because blind support of all policy is as bad a complaining about everything Obama does. n-t
Logical
Apr 2013
#184
He wants the poor to die slowly (opposite of what Grayson said about R's)
IfPalinisAnswerWatsQ
Apr 2013
#64
My goodness the meme's just keep on coming tonight. The dust hasn't settled on this yet..
kickysnana
Apr 2013
#77
The screamers on DU don't pay attention to facts which don't support their narrow view of
bluestate10
Apr 2013
#78
I don't think so, and I'm probably one of the biggest believers in socialism here.
freshwest
Apr 2013
#174
Again, you don't think the Republicans had nothing to do with the poverty rate, debt, war
DainBramaged
Apr 2013
#99
Bullshit! And I don't need pretty charts and links, just ask the local homeless shelters, foodbanks
Purveyor
Apr 2013
#110
Oh I can't wait for the charts and graphs from Daily Kos to refute your claims, with maybe a NYT
Purveyor
Apr 2013
#126
You once told me that, if Obama tried to cut SS, you'd no longer support him. /nt
Marr
Apr 2013
#168
I've already marched outside with Occupy. We are still correct regarding the banksters behind
Fire Walk With Me
Apr 2013
#205
Perpetuating the Privatization our Healthcare is not helping the Poor or Middleclass
usGovOwesUs3Trillion
Apr 2013
#186
No. That's different. This involves millions of INNOCENT people who lost their homes to BANKSTERS.
Octafish
Apr 2013
#211
Cancer clinics are turning away thousands of Medicare patients. Blame the sequester.
Fire Walk With Me
Apr 2013
#208