GRAPHIC: Income growth before and after supply side Reaganomics

[yurbud]

Democrats would make their own jobs getting re-elected a hell of a lot easier if they said this plainly and dared the GOP to respond. I wonder how even the mainstream media would be able to spin this away.

[begin_within]

1. And it's sad how many of those in the Bottom 20% still idolize Reagan

[redqueen]

2. They wouldn't dare. Most of them are bought off just like the entire GOP....

and they obviously don't give a crap about much of anything besides that money.

Pigs.

K&R

[arcane1]

4. Indeed, listing the plain facts is something that's just not done

:(

[redqueen]

5. Wouldn't want to jeopardize any of that extra income...

by upsetting any of their more 'important' supporters.

[woo me with science]

3. K&R This is what happens when Wall Street buys both parties. nt

[rhett o rick]

6. r&k

[Fuzz]

7. I wish the top 1% was on the left of the graph as well.

[econoclast]

8. Actually....a much more informative graph is here

It seems clear from this presentation by Piketty/Saez ( hat tip to krispos42 ) that there are three discrete turning points. (1.) The income growth of the 99% peaked around 1972/73 After that it declined until around 1982 (2.) when the decline stopped and a very slow increase began.

(3.) The 1% 's dramatic increase also began around 1982.

The real impact on income increases for the 99% then seems to stem from the decade prior to 1982. Care to propose what caused this clear trend change in 1972/73 Oil shock? End of Bretton Woods?

We can rail against RR all we want, but the data clearly indicate that something else happened in the decade prior.

[dreamnightwind]

9. Reagan enriched the 1%

Looking at the chart you posted, it looks like RR did indeed start the 1% on their road to uber-wealth, so he deserves every criticism in this regard.

You're correct that the other 99% appears to have stagnated a little before that.

edited to add the word "at", doh

[Initech]

10. Trickle down economics is bullshit. Trickle up economics is more like it.

[yurbud]

11. so you're saying we should send bottles of urine to Goldman Sachs?

that would be trickle up.