So Bush was a disaster … but Obama is worse

More Redistribution of Wealth to the Richest

Sure, Bush made the rich richer.

But Obama has actually redistributed wealth from the middle class to the very richest more than Bush.

Specifically, income inequality has increased more under Obama than under Bush.

Indeed, inequality in America today is worse than it was in Gilded Age America, modern Egypt, Tunisia or Yemen, many banana rep....

A new study shows that the richest Americans captured more than 100% of all recent income gains. As Huffington Post notes:

The top 1 percent of households by income captured 121 percent of all income gains between 2009 and 2011, during the first two years of the economic recovery, according to new research by Emmanuel Saez, an economics professor at the University of California at Berkeley. (Saez is a renowned income inequality expertand winner of the prestigious John Bates Clark Medal, an award that the American Economic Association gives every year to the top economist under age 40.)

How was the top 1 percent able to capture more than all of the recovery’s income gains? They became 11.2 percent richer while the bottom 99 percent got 0.4 percent poorer, when accounting for inflation, according to Saez.

Saez released the updated figures in late January after finding last year that the top 1 percent had captured 93 percent of all income gains in 2010, the first full year of the economic recovery.

Overall, between 1993 and 2011, the top 1 percent’s incomes surged 57.5 percent, while the incomes of the bottom 99 percent grew just 5.8 percent, according to Saez.

One of the reasons why the super-rich are becoming much richer and everyone else poorer is that Obama is prosecuting fewer financial crimes than Bush, or his father or Rona....

And by pointing out that inequality is skyrocketing, we’re not calling for a redistribution of wealth downward. We’re calling for an end to policies which allow wealth to be concentrated in a few hands.

Without the government’s creation of the too big to fail banks (they’ve gotten much bigger under Obama), the Fed’s intervention in interest rates and the markets (most of the quantitative easing has occurred under Obama), and government-created moral hazard emboldening casino-style speculation (there’s now more moral hazard than ever before) … things wouldn’t have gotten nearly as bad.

Indeed, crony capitalism has gotten even worse under Obama.

Replies to This Discussion

Permalink Reply by Doc Vega on February 16, 2013 at 12:45am

You're wrong about Bush he did not extend tax cuts to the rich. He extended tax cuts to all segments of society. Unlike Obama at least we are not getting our asses kicked all over the Middle East and North Africa after Benghazi attacks that killed Ambassador Stevens, four of his staff, and a Navy Seal body guard which led to 20 US consulates being attacked and burned with absolutely no response while our President ordered a stand down of six different military units that could have rescued the ambassador and his people. Hillary Clinton ignore numerous requests by Stevens for reinforcements or rescue from a badly chosen building that could not be defended. Obama, Holder, Hillary, and Panetta sould be in jail right now awaiting formal charges, the bastards!

Permalink Reply by Doc Vega on February 16, 2013 at 12:54am

Don't get caught up in the class warfare trap that Obama uses to ensnare the little minds of the uninformed in which we have way too many here in America with short memories, no historical perspective, and the indoctrination of progressive education which is a joke and used widely now by our public schools. Free enterprise, free will, liberty, the pursuit of happiness, low taxes, small government kept in its place, and defending our borders, these are not just conservative values these are the original valued handed down to us from our forefathers who authored the Constitution and Declaration of Independence. These men 300 years ago were geniuses compared to the brain dead internet techno wienies and gamers who waste their lives away in front video games and computer screens mulling over the latest pointless and brainless Yahoo news! My God, am I in America or or is this just one big giant movie screen playing a comedy movie about the end of America? Because it sure aint funny anymore people!

Permalink Reply by suzie on February 26, 2013 at 5:44pm

The republicans fatten the chattle and the democrats come in for the kill!!! It looks like what it is .... its just the way they arranged it .. It's a strategy .. The long term plan was always to kill AMERICA from within.. We have to got back to Wilson, FDR, who were communist and sold us out to the demons 100yrs ago.. FDR was probably worse than Wilson, Wilson had regrets and admitted he had unwittingly destroyed his country. FDR reveled in our destruction and helped his Zionist master during ww2 being a Zionist himself was more than happy to put the leaven in the bread of our country for the luciferian's and the synagogue of satan to slice and dice later after the new programs and the monatary system of usuary bankrupt us approximately 100 yrs later like clock work ... Some will enjoy the illusion just like In Pinocchio when he went to play land .. It took awhile but they all turned into jackasses and were sold into slavery .. It's an old story from the serpent of old who seeks whom he may devour until he does finally deceives the whole world ... But he cannot do it without our consent ... I will not comply!!!!

Permalink Reply by Central Scrutinizer on February 26, 2013 at 6:00pm

they ALL have been exponentially seeding the evil domination agenda since Wilson {imo} (JFK stepped in later, but we see how long that lasted), but the rest of these "POTUS or POS" have been working against We, The People ever since) Tis why RP was never getting in their den of iniquity from the get-go.

RSS

Welcome to
12160 Social Network

Sign Up
or Sign In

Or sign in with:

"Destroying the New World Order"