{"id":37623,"date":"2013-08-02T12:00:09","date_gmt":"2013-08-02T17:00:09","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=37623"},"modified":"2013-08-02T08:43:52","modified_gmt":"2013-08-02T13:43:52","slug":"a-president-for-plutocrats","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=37623","title":{"rendered":"A President For Plutocrats"},"content":{"rendered":"

The income gap has gotten worse under Obama<\/a>.\u00a0<\/p>\n

Much worse:<\/p>\n

In his speech in Illinois last week, and at events since, Obama described income inequality in the starkest terms. “This growing inequality is morally wrong,” he said, and “undermines the very essence of America.”<\/p>\n

To be sure, income inequality is a standard trope for liberals, who always use it to advocate more wealth redistribution.<\/p>\n

And Obama’s latest focus neatly coincides with his plans to push for more federal spending and taxes on the “rich” in coming budget battles.<\/p>\n

But what Obama conveniently leaves out of his sermons is that income inequality has grown faster on his watch than any time in the past two decades, at least.<\/p>\n

Research by University of California economist Emmanuel Saez shows that since the Obama recovery started in June 2009, the average income of the top 1% grew 11.2% in real terms through 2011.<\/p>\n

The bottom 99%, in contrast, saw their incomes shrink by 0.4%.<\/p>\n

As a result, 121% of the gains in real income during Obama’s recovery have gone to the top 1%. By comparison, the top 1% captured 65% of income gains during the Bush expansion of 2002-07, and 45% of the gains under Clinton’s expansion in the 1990s.<\/p><\/blockquote>\n

\u00a0Who’da thunk it – the party whose entire compaign is aimed at gulling “the 99%” is the one that’s dedicated to screwing “the 99%”.<\/p>\n

Couldn’t see that one coming.<\/p>\n","protected":false},"excerpt":{"rendered":"

The income gap has gotten worse under Obama.\u00a0 Much worse: In his speech in Illinois last week, and at events since, Obama described income inequality in the starkest terms. “This growing inequality is morally wrong,” he said, and “undermines the very essence of America.” To be sure, income inequality is a standard trope for liberals, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,69],"tags":[],"class_list":["post-37623","post","type-post","status-publish","format-standard","hentry","category-democrats","category-socialism"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/37623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37623"}],"version-history":[{"count":4,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/37623\/revisions"}],"predecessor-version":[{"id":37678,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/37623\/revisions\/37678"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37623"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}