If the gap between the rich and the rest is the biggest in a century,
and we're supposed to embrace giving the rich tax breaks because supposedly they're the job creators,
and Obama kept in place tax breaks for the rich
(On January 1, 2013, the Bush Tax Cuts expired. However, on January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012, which reinstated many of the tax cuts, effective retroactively to January 1.)...
why are you guys blaming Obama for the jobs problem?
"For starters, between 1993 and 2012,
the real incomes of the 1% grew 86.1%, while those of the 99% grew 6.6%, according to the
study, based on Internal Revenue Service statistics examined by economists at UC Berkeley, the Paris School of Economics and Oxford University.
The Great Recession hit the top 1% harder than other income groups, but the wealthy recovered quicker too. From 2009 to 2012, as the U.S. economy improved, incomes of the top 1% grew more than 31%, while the incomes of the 99% grew 0.4% - less than half a percentage point.
"This implies that the top 1% incomes captured just over two-thirds of the overall economic growth of real incomes per family over the period 1993-2012," economist Emmanuel Saez of UC Berkeley writes.
The 1929 stock market crash that preceded the Great Depression, followed by World War II, reduced an earlier national income gap for decades. But it began to grow again in the 1970s, and has widened since.
Saez attributes the trend not just to technology and job outsourcing, but to the reduced power of progressive tax policies and unions, along with "changing social norms regarding pay inequality."
http://articles.latimes.com/2013/sep/11/nation/la-na-nn-income-inequality-20130910
