Saturday, December 18, 2010

Reaganomics Redux

Merry Christmas everyone!


Reaganomics Redux

Since Ronald Reagan was president, median hourly wages have barely budged, and America's vast working and middle classes have taken home a steadily smaller share of the nation's income (adjusted for inflation). The typical male worker today is earning less than the typical male worker thirty years ago.

Yet the richest 1 percent of Americans is now taking home a larger percentage of the nation's income than at any time since 1928. And we recall what happened in 1929.

1 comment:

Kevin Scheunemann said...

The problem is:

When liberals/progressives try to fix things with the force of government, they make concentration of wealth worse!

The Obama "HAMP" program, a program designed to save homeowners from foreclosure...an idea that sounded good....THE MONEY ENDED UP GOING TO BIG BANKS!!!!

http://pubcit.typepad.com/clpblog/2010/12/hamp-homeowner-bailout-money-goes-to-banks-mostly.html

Of the $728 million for the program, 50% went to servicers of mortgage, 40% to mortgage holder (mostly banks), with less than 10% going to homeowner!

This is Public Citizen reporting this, not Fox News!

Government continues the tradition of concentrating wealth with its policies and wasting that wealth.