Sunday, February 10, 2013

The WTI/Brent Spread Is Not The Only "Thing" Widening

As Investors Business Daily (IBD), January 23, 2013:
 “But that’s precisely what’s happened over the past four years, as Obama's economic policies left the majority of Americans falling behind while the wealthy few got further ahead.”
The Census Bureau publishes the Gini Index, which is the official measure of income inequality. That index has climbed every year President Obama  has been in office. It was flat during the 8 years under President Bush (which means inequality did not increase).
Inequality is increasing under Obama because the incomes of the top 20% of income earners are increasing, while the incomes for everyone else have been declining. That is right, Progressives, what all your huffing and puffing has achieved is the rich getting richer, and the poor getting poorer. That didn’t happen under Reagan, where the rich got richer, and the poor got richer. After 1983, the poverty rate declined every year under Reagan, and incomes grew for every income quintile.
I know there are many ways to measure economic data, but when one looks at the stock market returns for the past year, it seems to me, at least, for some, the rich are indeed getting richer and the poor are not. 

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