Here, show me when Reaganists started fighting for the middle class (WTF planet are you on?) LOL
The Demise of the American Middle Class In Numbers.
Over the past 30 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:
1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.
Over the past 63 years worker productivity has grown by 2.0% per year.
But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):
1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%
A 13% drop since 1980
2. THE TOP 10% GET A LARGER SHARE.
Share of National Income going to Top 10%:
1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%
An increase of 16% since Reagan.
3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.
The savings Rose up to Reagan and fell during and after.
1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)
A 12.3% drop after Reagan.
4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.
Household Debt as percentage of GDP:
1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%
A 45% increase after 1980.
5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.
Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:
1980 = 10%
2003 = 56%
A 5.6 times increase.
6. AND THE AMERICAN DREAM IS GONE.
The Probably of Moving Up from the Bottom 40% to the Top 40%:
1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%
A 10% Decrease.
Links:
1 =
ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 =
https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 =
Clipboard01.jpg (image)
2 –
Congratulations to Emmanuel Saez
3 =
http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 =
U.S. Bureau of Economic Analysis (BEA)
4 =
Federated Prudent Bear Fund (A): Overview
4 =
FRB: Z.1 Release--Financial Accounts of the United States--December 10, 2015
5/6 =
15 Mind-Blowing Facts About Wealth And Inequality In America
Overview =
http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts
So Franco hater dupe, you have an IQ lower than the average squirrel, but let's take a look at the little bullshit piece you cut and pasted from the Soros hate site,
1st. Note that the record stops a decade back, in 2007. Why would that be? Well simply because the decline of the middle class is greater under Obama than all prior presidents combined.
Ronald Reagan destroyed your beloved USSR and you hate him for it, so naturally you moronically attack, even though your own numbers don't support your claim.
We can start with the basics (you are a bot Franco hater dupe, you cannot think.) What is a "share?" When the Sorosites claims that the "share" of labor has decreased from a fictional 105% (greater than the total) to some other fabricated number, what is the actual claim?
Let's start with the "share" mentioned. Is this a return on the investment of capital by the unions? Well no, what the Soros drones are alluding to, but will not actually say, is that they view the COST of labor as a positive. What the stat listed - assuming it is accurate (links don't work, the hate drone fabricating this doesn't grasp how queries work) is that the cost of labor in manufacturing has declined. To any sane and educated person, this is a good thing. The reality of course is simply automation has made processes more efficient.
Franco hater dupe, as a good Communist with the intellect of a doorknob, here is an opportunity for you; offer your services to businesses promising to sharply increase labor costs and drastically reduce quality. Vow to dramatically reduce the owners equity. No doubt businesses will line up to hire you....
Then let's move on to the next bit of fucktardation, the top 10% get a larger share, again begging the obvious, larger share of what? In the diseased mind of the communist, if a man takes his children to buy a pizza, the man and his children should receive no larger piece of the pizza than a drunk outside in the ally gets. Here is a clue fucktard, the top 10% get a larger share because they took a larger risk and provided a larger investment.
That's enough, because your idiocy is unworthy of detailed analysis and is not intended to survive such. it is designed to excite the stupid, like you, with absurd claims which promote your prejudices but steer clear of fact or rational thought.
Liberals don't have a problem with business owner/managers making more than labour, what they have a problem with is business owners and managers taking a larger and larger chunk of the income, while their workers get less and less while being more productive. If a business owner is now making double what he did 10 years ago, then his workers should be too. He doesn't get to keep ALL of the increased revenue. Some of it needs to go to the people who made it possible for him.
Nobody here is a communist, or anything close to it. If the top 10% have all of the wealth, and the bottom 47% are living paycheck to paycheck, they're not going to be buying houses, cars, furniture, or other durable goods as frequently as they did when they had savings, home equity, and other financial resources to fall back on in hard times.
In the Reagan years, food stamp usage doubled, and conservatives didn't blame Reagan for it. They blamed the "welfare queens", the lazy, inner city welfare recipients, the poor. The spending spree that the US went on when Reagan was in power, was fueled by debt. Deficits were a good thing. Everybody was flashing VISA, AMEX, and Mastercard, and credit cards were lavish in raising limits. It sucked all of the savings and equity that the bottom 25% had accumulated. With wages flatlining, and the buying power of those wages declining year by year, those just starting to climb the economic ladder were stuck where they were.
After the lower 25% were sucked dry, the Middle Class were next to feel that sucking feeling on their piggy banks. This would have happened before Obama came into power if not for the Clinton Administration. Clinton did get the minimum wage increased, and he increased taxes, and low and behold, unemployment went DOWN, and wages started to rise, but then Bush came into power and we were back to cut and spend, again, and the economy went into the toilet in the exact same way that it did when Reagan was in power.
Conservatives still refuse to accept that unemployment is way down under Obama, that the job losses they assured us would happen because of Obamacare, didn't happen. What is down is the number of government workers. Obama has actually shrunk government. Conservatives, who keep talking about not growing government should be impressed but they're not. Just like they're not impressed the employment rate is down. They're also not impressed that the Dow Jones average has gone from 10,000 when Bush left office, to 16,000 under Obama. Conservatives predicted gas would cost over $10 a gallon under Obama, but it's nearly 33% lower now than it was when Bush left office.
Despite all creditable evidence to the contrary, conservatives continue to believe that:
1. Tax cuts create jobs. What created jobs under Ronald Reagan was his military spending, all of which was financed by deficit spending. When the unemployment rate went up, Reagan hired 1 million government workers. When criticized for this, Reagan said that government workers buy goods and services too, and that this would spur employment. He was right in that, but this move too was funded by deficit spending.
2. Immigrants/the poor/social programs are bleeding the country white. Ignoring the spending of the military, the amount spent on maintaining US military bases around the world, is to be wilfully blind to the extent that US corporate interests abroad are financed by US miliary treaties and servicemen and women protecting those interest, all of which is paid for by the American taxpayer.
3. Illegal immigrants are the problem. The problem is not illegal immigration, its that Americans are more than happy to employ migrants because they work for less money than Americans. The cheap food that Americans enjoy is brought to you by the low wages paid to migrant field workers. Americans don't care as long as they get cheap stuff.