Liberals Defy Economic Reality
There is a fundamental problem when the people in power in America absolutely refuse to face facts. Nancy Pelosi is one of these people. I am blue in the face from screaming this but I feel obligated to say it again. I am not rich, I am not a crony, I am simply an economist who wants what is best for this country which is ultimately what is best for me. Liberals and Democrats without regard for the truth keep telling Americans that the rich are getting richer while the poor get poorer. Keeping the tax cuts for the top income earners is a massive giveaway to the wealthy. This is absolutely false. The leaders in Washington have a complete disconnect from economic reality. Over the past 41 years 76% of the time the poor benefited from the rich getting richer or suffered from the rich getting poorer. Only 7% of the time did the poor get richer while the rich got poorer. That is undeniable reality and basic logic. If the person paying your check isn't making more money how in the world can you think you will make more money or your employer will hire other workers to share the work load? In the real world you can't.
Liberals and Democrats will tell you that the rich have a larger portion of wealth in America than in the past. They do, but the amount wealth is greater. We are dividing up a bigger pie. Outside of recessions we are all getting wealthier and that is a good thing. According to the US Census Bureau in 1967 the lowest fifth of income earners made $16,909 (adjusted to 2008 $). In 2008 they made $20,712 (2008 $). That is a 22.5% increase in income. The top 5% of income earners over the same time period went from $107,091 to $180,000 for an increase of 68.1%. Liberals and Democrats will tell you that this proves that the wealthy are piggy backing off the poor but this isn't factually true. If we analyze the content we find that there are three years where the poor got richer and the rich got poorer (1974, 2000, 2004), there are seven years where the rich got richer and the poor got poorer (1970, 1977,1982, 1992, 1996, 2001, 2003), and 31 years where the rich and the poor either got richer or poorer together. The poor are tied to the rich for better or worse. These are the cold hard facts. They aren't open for debate.
When liberals and Democrats say you are being cheated they are fantasizing about a world that doesn't exist. When they say tax the rich they are pretending that wealth is shifted from the rich to the poor. When they tell you we can't go back to the failed policies of the past and recommend 95% of tax policy proposed by Bush they are playing politics. This administration is all politics and no economics. Look at the numbers. They want your vote more than they want you to succeed.
Tyson Bam
September 14th, 2010
