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Bush era fallout continues

Post on September 9, 2009 by 4 Comments »

Not that anyone who’s been paying any attention at all could have any doubts, but there’s more confirmation this morning of the disastrous impact that the casino capitalism policies of the Bush era had on the American economy.

According to the Center on Budget and Policy Priorities:

Two-thirds of the nation’s total income gains from 2002 to 2007 flowed to the top 1 percent of U.S. households, and that top 1 percent held a larger share of income in 2007 than at any time since 1928, according to an analysis of newly released IRS data by economists Thomas Piketty and Emmanuel Saez.”

In short, the right-wing/corporatist effort to transform the U.S. into a banana republic on steroids continues to be extremely successful.

Read the entire report here.

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Comments (Closed):4

  1. IBXer
    September 9, 2009 at 11:01 am

    Two-thirds of the people considered to be the top 1% are people who are small business owners. These are people who create the vast majority of the jobs in this country.

    Since 2006, the Democrats who have controlled Congress have been waging war on these people. Now we have massive unemployment figures.

    Hrmmm.

  2. Rob Schofield
    September 9, 2009 at 11:35 am

    Ah yes, the good ol’ trickledown theory — self-serving rationalization of dictators, oligarchs and plutocrats the world over. Just help out those poor beleaguered multi-millionaires and everything will be okay.

  3. Jack
    September 9, 2009 at 4:42 pm

    Yeah, most of us have been trickled-down on for years now.

  4. IBXer
    September 10, 2009 at 12:13 pm

    Actually, the “public good” and “social well-being” is the self-serving rationalization of dictators, oligarchs and plutocrats the world over.