Wednesday, August 13, 2008

Bush-McCain Economics at Work

This article here provides a useful summary of what's been happening in America under right-wing government. The rich have a greater concentration of wealth than at any time since 1928--the year before the Great Depression struck.

Further evidence of the situation the Republicans have put us in:

Over the last quarter-century the portion of the national income accruing to the richest 1 percent of Americans has doubled. The share going to the richest one-tenth of 1 percent has tripled, and the share going to the richest one one-hundredth of 1 percent has quadrupled. In 2005, the wealthiest 1 percent of the country earned 21.2 percent of all income, according to IRS data, while the bottom 50 percent of all Americans earned just 12.8 percent of all income, down from 13.4 percent a year earlier. For working people, wages and salaries now make up the lowest share of the nation’s gross domestic product since the process of collecting this data began more than 60 years ago; meanwhile, in the period since 2000 the number of Americans living below the poverty line has increased by nearly a third. (Those statistics can be found in Why We’re Liberals.) [Eric Alterman, author.]

This is the glorious economic program that John McCain promises to continue.

How can any rational person vote for such a man?

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