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Old April 11th, 2017, 03:16 AM   #1
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The Truth about the middle class under Obama

Middle Class Lost In Obama's 'Middle Class Economics' | Stock News & Stock Market Analysis - IBD

Economy: After six-plus years of President Obama's big-spending, tax-raising policies, middle-class families have seen their incomes decline and more families have fallen into poverty, Census data show.

The Census Bureau's latest annual report on income and poverty in America shows that there was little to cheer about in 2014.

Median family income dropped slightly to $53,657, down from the year before. Every income group suffered losses, with the lowest fifth of households dropping close to 1%.

ISSecon0917The overall poverty number barely budged. But it climbed by almost 600,000 among blacks in 2014, more than half of whom were under age 18.

This isn't exactly the picture that Obama has been painting. In fact, there's little that Obama likes to do more than brag about the economy.

A couple of months ago, he was in Wisconsin, crediting his policies for "record" job growth, tumbling deficits and big gains in the stock market.

"Step by step, America is moving forward," he said. "Middle-class economics works. It works. Yes!"

It's hard to see any evidence of that in the Census numbers. Indeed, the latest report shows that, despite more than six years of economic "recovery," the middle class is, incredibly, worse off than at the end of the Great Recession.

From 2009 to 2014, real median household income dropped by more than $1,000 — or 2.3% — to $53,657. (And that decline would likely have been steeper if not for a 2013 change in the way the Census does its annual survey.)

Obama's economy has been particularly harsh on those already at the bottom. Census data show that the bottom fifth of households saw their average income fall by 8% from 2009 to 2014.

Looked at another way, the share of households with incomes below $25,000 climbed from 22.4% to 23.6% over those years.

Among blacks, it went from 35.5% to 36.8%.

The statistics on poverty are just as unpleasant.

In Obama's first year in office, 43.6 million people — or 14.3% of the population — lived in poverty.

By 2014, that number had climbed by more than 3 million, pushing the poverty rate up to 14.8%.

The poverty rate among blacks was 26.2% last year, up from 25.8% in 2009. Is that "moving forward," too?

Even the IBD/TIPP Economic Optimism Index is lower today than it was when Obama took office.

If anyone but Obama had presided over such results, his economic legacy would be in shambles and his policies in disrepute.
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Old April 11th, 2017, 04:13 AM   #2
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The middle class has been on the slide since Reagan jiggered the tax rates.
You're blaming Obama for something that started in the 1980's.

To raise the middle class, add a new tax rate, and bump up taxes on investment and inheritance, and use the money to provide some of the benefits the middle class had when the middle class was growing stronger.
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Old April 11th, 2017, 04:38 AM   #3
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Originally Posted by goober View Post
The middle class has been on the slide since Reagan jiggered the tax rates.
You're blaming Obama for something that started in the 1980's.

To raise the middle class, add a new tax rate, and bump up taxes on investment and inheritance, and use the money to provide some of the benefits the middle class had when the middle class was growing stronger.


It's the same narrow vision the boys in Red have had for decades, but blame it on Obama and forget the horrendous recession that began in 2008-09.
And don't forget that St. Ronnie walks on water!
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Old April 11th, 2017, 04:44 AM   #4
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Middle class boomed under Reagan. You need to wait until more baby boomers die off before you try to pedal the lie Reagan policies hurt the midfield class.
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Old April 11th, 2017, 06:05 AM   #5
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Quote:
Originally Posted by goober View Post
The middle class has been on the slide since Reagan jiggered the tax rates.
You're blaming Obama for something that started in the 1980's.

To raise the middle class, add a new tax rate, and bump up taxes on investment and inheritance, and use the money to provide some of the benefits the middle class had when the middle class was growing stronger.

Real median household income got a major boost from Reaganomics.

We should go back to the Reagan tax rates.

Clinton slashed taxes and uber rich investors and increased tax rates on workers.
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Old April 11th, 2017, 08:14 AM   #6
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Originally Posted by Clara007 View Post
It's the same narrow vision the boys in Red have had for decades, but blame it on Obama and forget the horrendous recession that began in 2008-09.
And don't forget that St. Ronnie walks on water!

Excuse me is this coming from those who spoke so highly about how Obama and democrats are for the middle class and downtrodden, ya can't have it both ways the Rich got Richer under Obama the rest of us got screwed. The rich White democrats got richer.
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Old April 11th, 2017, 09:56 AM   #7
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Quote:
Originally Posted by Sensible View Post
Middle Class Lost In Obama's 'Middle Class Economics' | Stock News & Stock Market Analysis - IBD

Economy: After six-plus years of President Obama's big-spending, tax-raising policies, middle-class families have seen their incomes decline and more families have fallen into poverty, Census data show.

The Census Bureau's latest annual report on income and poverty in America shows that there was little to cheer about in 2014.

Median family income dropped slightly to $53,657, down from the year before. Every income group suffered losses, with the lowest fifth of households dropping close to 1%.

ISSecon0917The overall poverty number barely budged. But it climbed by almost 600,000 among blacks in 2014, more than half of whom were under age 18.

This isn't exactly the picture that Obama has been painting. In fact, there's little that Obama likes to do more than brag about the economy.

A couple of months ago, he was in Wisconsin, crediting his policies for "record" job growth, tumbling deficits and big gains in the stock market.

"Step by step, America is moving forward," he said. "Middle-class economics works. It works. Yes!"

It's hard to see any evidence of that in the Census numbers. Indeed, the latest report shows that, despite more than six years of economic "recovery," the middle class is, incredibly, worse off than at the end of the Great Recession.

From 2009 to 2014, real median household income dropped by more than $1,000 — or 2.3% — to $53,657. (And that decline would likely have been steeper if not for a 2013 change in the way the Census does its annual survey.)

Obama's economy has been particularly harsh on those already at the bottom. Census data show that the bottom fifth of households saw their average income fall by 8% from 2009 to 2014.

Looked at another way, the share of households with incomes below $25,000 climbed from 22.4% to 23.6% over those years.

Among blacks, it went from 35.5% to 36.8%.

The statistics on poverty are just as unpleasant.

In Obama's first year in office, 43.6 million people — or 14.3% of the population — lived in poverty.

By 2014, that number had climbed by more than 3 million, pushing the poverty rate up to 14.8%.

The poverty rate among blacks was 26.2% last year, up from 25.8% in 2009. Is that "moving forward," too?

Even the IBD/TIPP Economic Optimism Index is lower today than it was when Obama took office.

If anyone but Obama had presided over such results, his economic legacy would be in shambles and his policies in disrepute.
This from the source that claimed that Stephen Hawking would have died if he lived in the UK under their socialist health plan?

Where did they build their unicorn corral?
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Old April 11th, 2017, 09:58 AM   #8
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Originally Posted by Libertine View Post
Real median household income got a major boost from Reaganomics.

We should go back to the Reagan tax rates.

Clinton slashed taxes and uber rich investors and increased tax rates on workers.
Reagan and Clinton both enjoyed a growing world wide economy. Bush's blunders and his Wall St. buddies screwed Obama.

It is a wonder that Obama set the ship right to the degree he did.

The US recovery under Obama was better and faster than other developed countries that suffered the same fate.
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Old April 11th, 2017, 11:34 AM   #9
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Originally Posted by Sensible View Post
Excuse me is this coming from those who spoke so highly about how Obama and democrats are for the middle class and downtrodden, ya can't have it both ways the Rich got Richer under Obama the rest of us got screwed. The rich White democrats got richer.


As usual your logic absolutely evades me. So let's be clear. Obama and the Dems ARE for the middle class. We certainly don't see the GOP cheering for the middle class, or healthcare or minimum wage or tax breaks. Everything the GOP implements is geared toward CEOs and corporations---NOT toward middle American.
It was NOT Obama and the Democrats who said "HEY--let's have a recession!" The reality was something entirely the result of Dubya's war, Dubya's economic policies Dubya's Wall Street, Dubya's deficit, Dubya's deregulation approach....the buck stops with Dubya.
Widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; Dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; An explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; Key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels.
AND in walks Obama.........and YOUR logic is Obama and the Democrats were not FOR the middle class? That somehow Obama bankrupted Main Street?? After the damage was done?? You've just put three gallons of crazy in a two gallon bucket, Sugar.
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Old April 11th, 2017, 11:41 AM   #10
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The recession ended in 2009 on its own. The next 7 1/2 years of Obama's recovery are owned by Obama. It is the worst recover since the end of WW II. All of the major recessions were ended with the same economic policies dating to the 1920s that unencumbered businesses and allowed for a rapid and bountiful expansion of the economy except for Obama and his policies. The only difference in the recoveries were Obama's policies.
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