Yup, you heard that right. In fact, it is even more damning because, well read for yourself:
In his weekend radio address, President Obama decried that “over the past three decades, the middle class has lost ground while the wealthiest few have become even wealthier.” Although he was trying to leverage the Occupy Wall Street movement, the income gap has been a longstanding concern of his.
During the 2008 campaign, Obama said, “The project of the next president is figuring out how do you create bottom-up economic growth, as opposed to the trickle-down economic growth that George Bush has been so enamored with.”
But it turns out that the rich actually got poorer under President Bush, and the income gap has been climbing under Obama. What’s more, the biggest increase in income inequality over the past three decades took place when Democrat Bill Clinton was in the White House.
Frankly, when you understand what the leftist politicians definition of “social justice” really translates into – they pick who wins and who loses – it comes as no surprise that their friends & donors, the ones pushing whatever idiotic things the left tells us are the must have of the future, end up getting enormous amount of wealth transferred from the US tax payers to them.
Solyndra was just an obvious example of what the left’s “social justice” politics does: it throws other people’s money at bad things, enriching those that cozy up to the leftists. There is a reason that companies like GE and money bundlers like that Kaiser fella behind Solyndra love leftist big government types.
The wealthiest 5% of U.S. households saw incomes fall 7% after inflation in Bush’s eight years in office, according to an IBD analysis of Census Bureau data. A widely used household income inequality measure, the Gini index, was essentially flat over that span. Another inequality gauge, the Theil index, showed a decline.
In contrast, the Gini index rose — slightly — in Obama’s first two years. Another Census measure of inequality shows it’s climbed 5.7% since he took office.
Meanwhile, during Clinton’s eight years, the wealthiest 5% of American households saw their incomes jump 45% vs. 26% under Reagan. The Gini index shot up 6.7% under Clinton, more than any other president since 1980.
Want to know what else has grown disproportionally during the Obama years? The misery index. The dollar is worth shit, US debt is up $5 trillion in a short 3 years, people sucking at the government’s teat are at a record high, and those looking for something paid by other people now don’t even feel shame when they demand more and are called on it. But the LSM isn’t going to report that. Not when the guy in the WH has a (D) next to his name, and certainly not when they rigged the candidate coverage during that election to get him there.
To the extent that income inequality is a problem, it’s not clear what can be done to resolve it. Among the contributing factors:
Here is a hint: income inequality isn’t a problem. Admit that we are not all equal and work from that. We are never ever, all going to cross the finish line at the same time because human nature makes that impossible. Some people think that shit like this is what should determine income, while others, the ones with the income, actually feel work – and yes, work that doesn’t involve manual labor is work and not ignoble as you Marxists fuckwads want to pretend it is – makes the difference. The later are right. The former are envious and greedy. How much wealth is enough? None of you fucking business. Espeically when it is crooks in government trying in an obscene way to dictate that. Class warfare sucks ass.