Sure.
Demise of the American Middle Class In Numbers.
Over the past 35 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%
No link? Discarded as worthless.
His workup shows that the more that liberalism seeps into our government, the more it cost the average person. The liberal tendency to sock it to the rich, like all liberal ideas, ends up hurting those who can least afford it the most...
They believe that they can help the little guy by tearing down the big guy...
They believe that they can strengthen the weak by weakening the strong...
They believe that they can lift up the wage earner by pulling down the wage payer....
They believe that they can help the poor by destroying the rich....
They believe that they can further the brotherhood of man by inciting class hatred and envy.....
They think they can establish lasting security on borrowed money...
In short, they think that they can help people permanently by doing for them what they could and should do for themselves.
As his numbers show....none of the above liberal ideas work in practice....His numbers show that Reagan's conservative fiscal policies brought the average person to a level of prosperity that they haven't seen since before Roosevelt's socialist new deal was put into place.