Bob Cesca has posted the following chart, showing how the share of income labor sees is at a historic low:
What’s interesting is how much the share dipped during the Bush years. During Clinton’s term, the rate was on the rise, after a substantial fall during the Reagan and Bush 41 years.
So what does all that mean? Trickle down works!
Of course the trickle down I’m talking about isn’t the one Republicans push. Instead it’s one that see’s the wealth of America rapidly decrease as the money trickles down to the mass population.
And speaking of Republican economics, this highlights another problem. Look again at the big dip in the Bush years. Republicans constantly told us how bigger tax cuts to corporate America would mean more jobs and better wages. Care to re-think that position?
In a world of supply side economics, the equating factor is simple – if the people have more money then they will buy more goods. Instead Republicans want you to think that if the big corporations have more money, they’ll hire more people and put out more goods, even if those goods won’t sell. It’s that kind of thinking that will keep us in a recession and cause our middle class to keep declining. It’s that kind of thinking that the media and right wing has pushed for years and so many Americans now buy into it, despite the historic numbers showing something totally different.
We need to change course and the best way to do that will be to get more money into the hands of the people who will spend it here – the middle and lower class. If we don’t do that, then we can expect the current economic situation to continue and even grow worse.