Kasz216 said:
The stock market is up, great for people who own money or stocks. (Think people in unions, with retirement plans, smarter frugal people) ~120% or so of income growth has gone to the top 1% (in otherwords, the bottom 99% have lost income, more specifically the less rich and middle class. Hence why the gini coefficent isn't hugely effected. Also worth noting, it's not even the 1% so much as specific people in that one percent that are in specific fields. Like stocks.) and non payroll benefits actually saw a reduction last economic report, in the first time in a long time... as people get ready for Obamacare, because Obamacare penalties are based on employee numbers at the end of... I want to say this year. (Maybe 2014?)
Which is sadly ironic. Though again.. that's thanks to Bernake, not Obama. Monetary policy can't really help the poor and lower middle class... since they rarely have access to financial institutions... and things that only increase the stock market increase the value of already owned assets... and who wants to sell those assets when they're the only things doing well? The stimulus hasn't really done anything... for different reasons ranging from "Stimulus don't work" to the Keynsian interpretation of "Stimulus' don't work when you have a high trade deficit". |
I'd actually credit the growth to republicans who refuse to approve laws that support the middle and lower class, and earmark bills to support that top one percent.
The stimulus did work, though...unless you can somehow prove that we would be in the same position now than without. Do you also include the bailouts in this administration non-necessity?
