Tuesday, September 22, 2015

Income Inequality - Obama and Bernie


Bernie has been rather forthright about his position on income and wealth inequality. His campaign website lists a number of disparities--see HERE. He even admits that Income inequality has gotten worse in teh last few years under Obama, and is not at it widest since the 1920's. (see HERE)

This is Bernie's video on this issue:


Granted, his claims have been "exaggerated" (see HERE and HERE), but they are somewhat correct, though not necessarily in the ways he and his fellow liberals may hope.

For example, back in 2014, the Federal Reserve found that median income had dropped by 12%, or $6,400 between 2007.and 2013. (see HERE)

Just recently, the Wall Street Journal reported that median income declined another 1.5%, or $805. (see HERE)

This means that households today are making 13.5 % less today than when Obama took office.

[Update 10/22/2015: The Fundamental Dishonesty of Income Inequality Arguments]

[Update 10/26/2015: "1 in 2 Workers Make Less Than $30,000 a Year]

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