Bush Gives us Five Years of Declining Incomes: Worst Record Since WWII-Bush History, 8/21

[BlueButGlad2]

Bush gives us FIVE YEARS of declining incomes, a shockingly bad record given that prior to Bush there has only been ONE such year since WWII. Some good news: the tiny 1/4 of 1% of us who make more than $1 million annually received almost half of all the nation's income gains from 2000 thru 2005. The Republican Revolution of (rich) family values at work!

See more, and another bushel of Bushisms .... http://poorgeorgesalmanac.com/?p=375

Today's categories: Bushisms, Iraq, The Millionaire's Ally
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[leftofthedial]

1. where are all the "McSame" ads tying Crazy John to Bush and this record?

About forty times a day I see or hear how Obama's tax increases and higher energy prices will hurt working people, but not a peep about the disastrous REALITY that McInsane represents.

[OmahaBlueDog]

2. ding, ding, ding!!

[LaPera]

3. And higher taxes each year for the workers (the rich got the tax breaks) everyone I know

including myself has paid more in taxes each and every year Bush has been in office....someone has to finance the corporations & republicans war for profits & their fascist imperialism...

And with McCain, it'll just be more of the SAME!

[TahitiNut]

4. The corporate "money engines" have been tuned to channel money away from workers and to owners.

Not only has the ratio of corporate profits to employee compensation achieved heights not seen since before the Great Depression, the taxes on those corporate profits are at their lowest, reducing that part of the cost of government paid by corporations and therefore increasing the part paid by workers.

It's important to realize that 'employee compensation' INCLUDES the obscene executive pay packages, so the conditions indicated by the ratio are even WORSE. At the same time as ownership income (dividends and capital gains) in increasing, the FEDERAL INCOME TAX RATES on such income is lower compared to the rates on EARNED INCOME (from one's labor) than any time in the working lives of anyone alive today.

The last time the federal income tax rate on capital gains was as low as it is today was before the Great Depression. We're headed for the economic ditch and it won't be pretty.


If we think of a corporation as a 'black box' into which is poured labor, materials, and capital and out of which flows goods, employee compensation, and ownership wealth, then we can see how even a slight tweak to that 'black box' will shift the compensation for PRODUCTIVITY from those who do the PRODUCING to those with ownership interest. Among some of the more perverse machinations are the ways in which earned income is 'farmed' back into the corporation in plant, property, and equipment ... and the labor producing that reinvestment income does not retain equity for that 'investment.' It's important to note that the market value of stock DOES NOT represent actual capital that flows into the business but is largely the result of the secondary market's 'greater fool' processes.

[BlueButGlad2]

5. Excellent comments-Excellent basis for anti-McCain ad

The Bush record would be a great basis for an Obama ad,given the facts as outlined here, and McCains continuation of Bush policy. McCain voted with Bush 95% of the time last year. Barack, give him hell!

[BlueButGlad2]

6. A JPEG for your blog

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