24
Jul
14

Income Inequality Is A Problem And President Obama Is Tackling It

Obama GOP

• • •

Zachary A. Goldfarb: Don’t Think Obama Has Reduced Inequality? These Numbers Prove That He Has.

Today, the average after-tax income of a member of the top 1 percent of earners is $1.12 million. The average after-tax income of someone in the bottom 20 percent is $13,300. That means the average person at the top takes home 84 times the income that the average person in the bottom takes home. Now, consider what it would be like if none of President Obama’s tax policy changes had happened: not the upper-income tax hikes negotiated at the beginning of last year, not the upper-income tax increases imposed by the Affordable Care Act, not the low-income tax credits enacted in the 2009 stimulus and later renewed.

In this alternative universe, the average member of the top 1 percent would take home $1.2 million, or 6.5 percent more in income, according to a new analysis. The average member of the bottom 20 percent would bring home $13,100, or 1.2 percent less in income. As a result, the average member of the 1 percent would take home 91 times what the average person in the bottom would bring home. If you’ve wondered whether Obama has made any headway at reducing income inequality, here’s evidence that he has. Based on tax policy alone, he has slightly increased the income of the poor and more significantly reduced the income of the rich.

More here

• • •

obama_sign_of_progress


46 Responses to “Income Inequality Is A Problem And President Obama Is Tackling It”


  1. 1 vcprezofan2
    July 24, 2014 at 3:36 pm

    :cool:

  2. July 24, 2014 at 3:39 pm

    Brilliant link Nerdy, you and your pesky facts. Thanks a gazillion!!

  3. July 24, 2014 at 3:39 pm

    I knew I should’ve played hooky and gone to Canter’s for lunch…

  4. 21 Lb4Obama
    July 24, 2014 at 3:40 pm

    A liberal hack named Patricia Murphy, Editor of Citizen Jane is on MSNBC The Cycle right now howling that POTUS is not doing enough to rally congress to take action on A, B, C, etc. she says that he has no relationships with anyone on the hill, including his own party! OK. I am pissed an do not tweet. All you TOD tweeters need to hammer this little bitch to kingdom come on the internets NOW. i am headed over to the Citizen Jane sight now to give this hack a piece of my mind! Urghhhhhh!

    • 22 COS
      July 24, 2014 at 3:46 pm

      At the end of Joy’s show, Abby Huntsman said that she was going to rant about PBO’s 6-year itch problem or something to that effect. I turned because I did not want to hear what she had to say.

    • 24 Nena20409
      July 24, 2014 at 4:11 pm

      Patricia Murphy is Not a Liberal. If it is the same woman that works for The Daily Beast, then my comments below is correct.

      As a recovering C-SPAN Junkie, I am familiar with her rightie leaning ways. She used to run a rightie group for Women and Brian Lamb used to invite her as a guest periodically.

      Joan Patricia Murphy is a Dem.

  5. 25 JER
    July 24, 2014 at 3:40 pm

    • 26 jacquelineoboomer
      July 24, 2014 at 4:12 pm

      That’s the best weird ass photo the L.A. Times could come up with? Ha. Guy in booth must have said, “How do I make the Take Me To Your Leader sign?” and the President obliged, by showing him.

  6. 27 vcprezofan2
    July 24, 2014 at 3:45 pm

    Thanks, Nerdy!
    On a daily basis, even when GOPs/MSM think he is playing, PBO is tackling so much, in so many areas, and each little piece he does is meant to cement his promise to address (income) inequality. Truly, a man of his word!

  7. 28 Linda
    July 24, 2014 at 3:45 pm

    Who the heck is this ” Citizen Jane ” person ? She was just bashing PBO because of ” Optics “. She thinks PBO should be more friendly to members of Congress.

    I looked at the website and her top story is ” Why didn’t Michelle Nunn take her husbands name ? ” ( that is deep )

    Ari Melber put her in her place for blaming Obama……because nothing gets done in Congress.

    • 29 Vicki
      July 24, 2014 at 3:51 pm

      I know who she is. She has an attractive face with no apparent brain cells. Perfect for MSNBC. Especially because she poses as something “left.’
      A good example of what I call the Privileged Left.

    • 30 Lb4Obama
      July 24, 2014 at 3:53 pm

      I don’t know WHO she is. But she needs major pushback for her hateful ignorance. She is very active on Twitter. Those that tweet need to nail her about this! Please!

  8. 31 GGail
    July 24, 2014 at 3:52 pm

    Now the President is going over to Los Angeles Trade Technical College to speak!

    So close….yet….so far (sigh)

  9. 32 JER
    July 24, 2014 at 3:55 pm

  10. July 24, 2014 at 3:55 pm

  11. 34 JER
    July 24, 2014 at 3:57 pm

  12. 35 jacquelineoboomer
    July 24, 2014 at 4:08 pm

    Thanks for this luscious post, NW! Look at our President!

  13. 39 Linda
    July 24, 2014 at 4:10 pm

    Judge Strikes Down Indiana’s Contentious ‘Right-To-Work’ Law

    INDIANAPOLIS (AP) — A Lake County judge struck down Indiana’s right-to-work ban on certain union fees in a second legal blow to the contentious law passed in 2012.

    Lake County Circuit Court Judge George Paras determined the law violates the state constitution by forcing unions to provide services to workers without payment. He wrote in his July 17 ruling that the law was immediately “null and void”. Paras determined that the state interjected itself into a federal requirement that unions represent all workers — whether they pay union fees or not — when it established criminal penalties for violating the right-to-work law.

    The United Steelworkers, which lobbied unsuccessfully against the law in 2011 and 2012, filed the suit against the state.

    http://www.huffingtonpost.com/2014/07/24/indiana-right-to-work-ban_n_5617642.html?utm_hp_ref=politics

  14. July 24, 2014 at 4:13 pm

    Heads up

    http://theobamadiary.com/2014/07/24/president-obama-speaks-on-the-economy-los-angeles/

    And apologies to Nerdy for screwing up the timings of the posts #Idiot

  15. 43 Nena20409
    July 24, 2014 at 4:16 pm

    VC with all your Au :star: :star: :star: lately, perhaps, having a challenged laptop is the quickest way to the Top? ;)

    Congrats.

    • 44 vcprezofan2
      July 24, 2014 at 4:35 pm

      It’s starting to feel that way, Nena. If I could also get on twitter from here I suspect I would forget my laptop and settle in to this new normal. :grin:

  16. July 24, 2014 at 4:23 pm

    The constant generosity of our POTUS:

    • 46 SUE DUVALL SMITH
      July 24, 2014 at 5:22 pm

      :)…AWESOME….WE ARE HERE TO SEE EACH OTHER THROUGH….GOOD JOB MR. PRESIDENT! YOU ARE LOVED!


Comments are currently closed.

@BarackObama

@WhiteHouse

@FLOTUS

@blog44

@PeteSouza

Enter your email address to receive notifications of new posts by email.

@TheObamaDiary

@NerdyWonka

@DaRiverZkind

@Lib_Librarian

@amk4obama

@zizii2

Categories

Archives

Blog Stats

  • 27,826,634 hits

WH Flickr

P093014PS-0758

P080414PS-0073

P080414PS-0299

P080514LJ-0109

P080514PS-0515

P080514PS-0621

P080514CK-0099

P080514PS-1046

P080514PS-1173

P080514PS-1205

More Photos

%d bloggers like this: