Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Top 1 percent reaps 90 percent of income gains since Obama took office
Washington Times ^ | 01/14/2014 | Patrice Hill

Posted on 01/14/2014 4:55:17 AM PST by SeekAndFind

Despite his best efforts, the president who vowed to conquer Wall Street and revive opportunity for everyday Americans on Main Street has this to show for his first five years in office: U.S. stock markets are in record territory, posting 30 percent gains just last year, and Wall Street is home once again to the biggest concentration of billionaires on earth, while wages for the middle class have barely kept up with inflation.

As President Obama prepares to lay out an economic agenda to address this disappointing state of affairs in his State of the Union address this month, his inability to stem long-term trends toward inequality are giving congressional Republicans little incentive to work with him as they push their recently developed agenda against poverty.

Mr. Obama has acknowledged that the record gap between the rich and everyone else has only grown on his watch, and has vowed to devote his final three years in office to trying to rectify the situation.

But success is far from guaranteed, Economic analysts say trends contributing to the erosion of middle incomes were in place for years before he took office and some steps he took early in his first term likely accelerated them, even while softening an immediate blow to middle-class Americans.

(Excerpt) Read more at washingtontimes.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: bho44; classwarfare; incomegap; mainstreet; millionaires; obama; wallstreet
Navigation: use the links below to view more comments.
first previous 1-2021-26 last
To: SeekAndFind
Despite his best efforts...

WTF?! Either this is sarcasm or the author of this tripe is "seven kinds of stupid"...

21 posted on 01/14/2014 6:11:18 AM PST by Common Sense 101 (Hey libs... If your theories fly in the face of reality, it's not reality that's wrong.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ken522
The people at the top

You're friend is not at the top. To the people at the top if you aren't a multi-billionaire you're a nobody.

You're friend is upper middle class at best and the target of the Wall St. Bankster/FEDGOV Cartel.

22 posted on 01/14/2014 6:14:28 AM PST by Count of Monte Fisto (The foundation of modern society is the denial of reality.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: SeekAndFind

It’s the paradox of “Trickle Up Economics”.

The higher you raise taxes on the rich to provide goods and services for the poor, the rich will get richer and the poor will get poorer.

It’s the rich that’s providing the goods and services so you raise their taxes they raise their prices.

The more people you put on the govt dole, the more the wealth flows to the top.

Poor people on the govt dole are obtaining goods and services with govt borrowed money.

It’s not “taxes’ that cover the cost of the leaches, it’s the borrowed money that covers the cost.

People that have to pay for the goods and services out of their own pocket are becoming poorer as they burn through their wealth to obtain the goods and services which others are getting for “free”.


23 posted on 01/14/2014 6:47:47 AM PST by IMR 4350
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
The middle class? Fugedaboudit!

The only ones prospering in this economy are the banksters and our government overlords. The only successful operation in progress is keeping the parasite class afloat and quiet - for now. When that scheme eventually collapses, the guillotines will emerge and the official reign of terror will begin.

We're rapidly morphing from the first American Republic to the First French Republic. The final question yet unsettled is do we finally end up with a Stalin or a Napoleon?

24 posted on 01/14/2014 7:22:41 AM PST by Gritty (Liberals think living your life free of welfare, EBT, and government nannies is "cheating"-J Hawkins)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
Obama is the greatest thing to have ever happened to the top 1%. He gave them the keys to the US Treasury through crony capitalism (Fascism) and printing 84 billion new dollars every month, that go straight into their bank accounts!
25 posted on 01/14/2014 8:06:41 AM PST by 2001convSVT (Going Galt as fast as I can.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SeekAndFind
But the economy has responded only tepidly to this “trickle-down” approach

And why?

Because Obama has loosened things at the top while tightening things for the middle class. Obamacare will not impact the rich at all...it is the middle class who has to pay several hundred more a month. This at a time when they are already struggling.

26 posted on 01/14/2014 10:55:23 AM PST by what's up
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-26 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson