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September 7, 2014

Obamanomics Helps Top 10%

The Left routinely stresses the need to alleviate “income inequality,” yet their very own policies worsened the gap between “the rich” and poor under Barack Obama’s presidency. In fact, the only income bracket that saw any increase in pay over the last three-year study period were those in the top 10%. Bloomberg reports, “Median income adjusted for inflation rose 2 percent to $223,200 for the wealthiest 10 percent of households from 2010 to 2013, the Fed said … in its Survey of Consumer Finances, taken every three years.” Interestingly, “The bottom 60 percent saw the biggest declines.” A look at the labor market explains why. A record 92,269,000 Americans are no longer in the labor force, thanks to a jobs market that’s been abysmally slow to heal under the Obama “recovery” and the work disincentive created by government dependance. Why look for a job to make ends meet when the government provides income for you? More…

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