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xchrom

(108,903 posts)
Sat Sep 14, 2013, 06:51 AM Sep 2013

Obama's Legacy Could Be an America of Aristocrats and Peons, Shocking New Research Reveals [View all]

http://www.alternet.org/economy/obama-legacy-income-inequality



Warning: This story is going to make you very angry.

New research from inequality experts Thomas Piketty and Emmanuel Saez has revealed that we now have the biggest gap between the rich and rest of America since economists began tracking data a century ago.

This isn’t supposed to happen following an economic crisis. After the Great Depression, Roosevelt’s New Deal programs worked to prevent wealth from piling back up at the top. And over the past two decades, the percentage of income claimed by the wealthy dropped after each recession. But in the aftermath of the Great Recession, the top 1 percent has gobbled up nearly all of the income gains in the first three years of the “recovery" — a stupifying 95 percent. Economic inequality is even worse than it was before the crash. In fact, last year the rich took home the largest share of income since 1917 with the exception of only one year: 1928.

Is this an accident?

Let's take a look at the years from 2009 -2012. While working people were sweating it, the richest Americans have enjoyed a fabulous ride. For example, if you were in the top 1 percent in 2012, lucky you — your income soared on average by 20 percent . And if you were in the top 0.01 percent, you probably bought a bigger yacht because your income was up by more than 32 percent on average . As for everybody else? They shared a measly 1 percent rise.
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I hardly see this as Obama's fault madokie Sep 2013 #1
Obama and the Democrats rescued the GOP leftstreet Sep 2013 #2
Democrats have been administering CPR ever since. Enthusiast Sep 2013 #7
Ridiculous words, no less lumpy Sep 2013 #96
Actually Obama is the first President since Clinton to get tax increases on the rich. iandhr Sep 2013 #11
Actually all Obama had to do was NOTHING to raise taxes on the rich a lot more. truebluegreen Sep 2013 #80
Indeed. n/t PoliticAverse Sep 2013 #139
Leaves out the fact the Republicans were holding something else hostage treestar Sep 2013 #142
nah...it`s easier to complain than... madrchsod Sep 2013 #183
If the rich paid their fair share of taxes, raising the debt ceiling JDPriestly Sep 2013 #194
JDP wrote the FACTS, I fully agree. Too much "spin", come on folks, this is our country we're drynberg Sep 2013 #202
warren is also my pick if she runs madrchsod Sep 2013 #204
I absolutely agree with you JDPreiestly... blue14u Sep 2013 #224
Thanks. Join your local Democratic Club or form one if you don't have one. JDPriestly Sep 2013 #231
He has to increase their taxes even more! Auntie Bush Sep 2013 #190
You skipped a couple of decades - Reagan left office in 1989! George II Sep 2013 #14
Reagan-omics, not Reagan leftstreet Sep 2013 #41
Pernicious nonsense, Mr Leftstreet eom Kolesar Sep 2013 #76
How in hell do you think Obama has rescued/revived the GOP? ferkinghogwash lumpy Sep 2013 #94
That they did--and I have no intention of forgiving them for it. n/t Raksha Sep 2013 #123
Quite true, often the obstructionists get a free pass and the blame RKP5637 Sep 2013 #3
No doubt about it. Now he is getting mudslinging from his 'loyal' Democrats or pretend to be. lumpy Sep 2013 #101
We could also be doing a hell of lot better than Obama. Raksha Sep 2013 #125
Yep, agree!!! n/t RKP5637 Sep 2013 #148
I'd like to defend him, but where are the prosecutions on Wall Street? Why would he push Summers to hlthe2b Sep 2013 #10
Obama is not a prosecutor nor does he make and execute laws. That is the role of a dictator. lumpy Sep 2013 #99
Oh, come on... Holder does report to Obama and prosecution priorities do involve him hlthe2b Sep 2013 #109
execution of the law green917 Sep 2013 #116
Riiiight Phlem Sep 2013 #117
Eric Holder does Obama's bidding AgingAmerican Sep 2013 #138
Congress Vanje Sep 2013 #170
The executive branch doesn't enforce laws? Doctor_J Sep 2013 #196
And here I thought the DOJ was part of the Executive Branch. morningfog Sep 2013 #211
You've been thoroughly discredited. Do you have more to say about the benefits of education? DisgustipatedinCA Sep 2013 #227
"My administration is the only thing between you and the pitchforks," Obama told the bankers in 2009 jtuck004 Sep 2013 #137
/\ this is an amazing post/\ Vanje Sep 2013 #165
Pretty much, he throws crumbs to the rest of the population in the form of Katashi_itto Sep 2013 #168
Exactly. n/t cui bono Sep 2013 #219
disgusting. liberal_at_heart Sep 2013 #174
There are many factors that go into prosecuting a case treestar Sep 2013 #144
It's not his fault Scootaloo Sep 2013 #28
His appointee Holder AgingAmerican Sep 2013 #141
Agreed. Holder's role was/is to act as a figurehead until the statute of limitations runs out. AnotherMcIntosh Sep 2013 #176
Nothing is Obama's fault. raindaddy Sep 2013 #31
Exactly-- who do they think they're kidding with that shit? Marr Sep 2013 #65
It is shit alright, the shit list that is. lumpy Sep 2013 #103
heh. SammyWinstonJack Sep 2013 #78
Well said, thank you. truebluegreen Sep 2013 #83
+5 jillion Phlem Sep 2013 #132
+1 n/t NealK Sep 2013 #164
Nailed it! go west young man Sep 2013 #218
You just made a friend of me... Welcome to DU! blue14u Sep 2013 #234
This article is spot on. mick063 Sep 2013 #68
Not completely Obama's fault. HooptieWagon Sep 2013 #84
More shit lumpy Sep 2013 #104
So you're for the TPP? /nt Marr Sep 2013 #133
Should Obama have ordered Holder to prosecute Wall Street AgingAmerican Sep 2013 #145
Obama is a victim for being dumped on by the Bush legacy, and Republican obstruction. lumpy Sep 2013 #92
So Bush forced him not to prosecute bankers and wall street? AgingAmerican Sep 2013 #146
Possibly. The BFEE* could have threatened him personally if he tried it. Raksha Sep 2013 #159
....and Bush forced Obama to appoint bankers and recycled Bush-appointees Vanje Sep 2013 #172
New tactic of bullshit rhetoric by Obama haters. It falls into the category of mud slinging. lumpy Sep 2013 #97
Too many find it too easy to dump on the one man working his ass off madokie Sep 2013 #108
He chose not to prosecute AgingAmerican Sep 2013 #135
Palease. robinlynne Sep 2013 #143
Agreed! Can't understand the reason for such a post . . . brush Sep 2013 #178
The 1% blkmusclmachine Sep 2013 #4
How Funny Cryptoad Sep 2013 #5
My industry has been off shored during Obamas presidency abelenkpe Sep 2013 #17
Yup. While his administration can't be blamed for all of that, as you say, whathehell Sep 2013 #26
That is an excellent description of what's going on abelenkpe Sep 2013 #35
Thank you! whathehell Sep 2013 #73
Exactly. n/t Raksha Sep 2013 #128
Which Obama law Cryptoad Sep 2013 #38
What have democrats done to keep them here? abelenkpe Sep 2013 #53
Do you think Obama has the power to create laws. ? Cryptoad Sep 2013 #59
Isn't he the one negotiating that miscarrage of justice that is the TPP?....... socialist_n_TN Sep 2013 #62
How do you judge when the agreement is still being constructed? Cryptoad Sep 2013 #156
How can you NOT judge when it's being constructed in secret? socialist_n_TN Sep 2013 #212
Is that what is really bothering you? Cryptoad Sep 2013 #226
When it's done it's too late! cui bono Sep 2013 #220
So many seers,,,,, Cryptoad Sep 2013 #225
Well I'm glad tthat you're SO comfortable with your betters.......... socialist_n_TN Sep 2013 #229
Yes it does seem Cryptoad Sep 2013 #233
Many people do, people critize him for not fixing everything that needs fixing and critize lumpy Sep 2013 #88
Well said! Cryptoad Sep 2013 #157
his admin has put forth a jobs bill which the pukes blocked BlancheSplanchnik Sep 2013 #206
This message was self-deleted by its author Cryptoad Sep 2013 #57
How has Free trade, repealing Glass Steagal, and media deregulation lifted up the middle class? Larry Ogg Sep 2013 #56
You got it Larry BlueJazz Sep 2013 #105
GOP Cryptoad Sep 2013 #209
don't forget he also caused Mount Etna to erupt! whistler162 Sep 2013 #6
Obama and his Wall Street bailout. Now here is proof. Safetykitten Sep 2013 #8
I seem to remember that bushie was president when we bailed out the banksters and wall street. jwirr Sep 2013 #22
As a US Senator, Obama campaigned FOR, lobbied FOR, and voted FOR the Bailout, bvar22 Sep 2013 #87
Why weren't they prosecuted? AgingAmerican Sep 2013 #149
Trying to pin that on Obama? Of course. lumpy Sep 2013 #111
I suppose it might be "shocking" cheapdate Sep 2013 #9
No, he & the people he works for accelerated it. n/t Egalitarian Thug Sep 2013 #15
It's a continuation of a trend that started in the 1970s. cheapdate Sep 2013 #40
Nobody told me that, I've lived it while paying attention to what is done, rather than by Egalitarian Thug Sep 2013 #69
It's not accelerating, it's increased at a nearly constant rate, cheapdate Sep 2013 #70
Do you see that spike from '87 - '90? This one is going to force them to re-scale Egalitarian Thug Sep 2013 #74
Here's a sypmathetic chart from the New York Times on Friday. cheapdate Sep 2013 #86
Because you don't want to know what the answers are. There's no mystery here, we've Egalitarian Thug Sep 2013 #91
Screw you. You're all loose talk and nothing else. cheapdate Sep 2013 #95
You're not my type. How about we start with something simple, eliminating the sources of Egalitarian Thug Sep 2013 #147
You've got some good ideas there Egalitarian Thug. liberal_at_heart Sep 2013 #152
Thank you, but they're not mine. As I told cheapdate, solutions to all of these Egalitarian Thug Sep 2013 #163
I'm definitely tired of the excuses. liberal_at_heart Sep 2013 #171
That all sounds good to me :) nt abelenkpe Sep 2013 #155
I'm glad you like it. If people would just make the demand... n/t Egalitarian Thug Sep 2013 #223
You barely address the main problem, cheapdate Sep 2013 #232
Nor has he really tried. RC Sep 2013 #16
Exactly. And anything he has done has been opposed head on by the rethugs. It is a miracle that jwirr Sep 2013 #23
Obama's "legacy"? Just how do you come to that conclusion? George II Sep 2013 #12
Last week his legacy was going to be WWIII in Syria ... the wheel of outrage JoePhilly Sep 2013 #19
Yep, Obama bad treestar Sep 2013 #45
You read the arguments here. mick063 Sep 2013 #98
Do your own damn fighting then, if all you can do is whine. He is not your savior. lumpy Sep 2013 #112
Good answer sir. mick063 Sep 2013 #150
Exactly. Working people are the ones that have brought about change in the past. By gathering lumpy Sep 2013 #158
You do not have a clue about what I do. mick063 Sep 2013 #162
What is the Presidents economic agenda that you are working against, may I ask, Madam? lumpy Sep 2013 #169
I don't believe so. mick063 Sep 2013 #221
Unsubstantiated talking points George II Sep 2013 #228
Wrong! Syria and the blame for starting WWIII would be an additional point of outrage, Raksha Sep 2013 #131
About the Syria issue Vanje Sep 2013 #175
xchrom didn't come to that conclusion, xchrom posted an article Autumn Sep 2013 #34
Generally when people post articles on this site, it's because they embrace the thought..... George II Sep 2013 #46
I don't have the ability to read minds, but I do find that most DUers post Autumn Sep 2013 #48
Bullshit. People post latest news stories to keep us posted on what is happening. Not selective lumpy Sep 2013 #115
Well, posting a speculative article about Obama's legacy isn't "latest news", it's opinion. George II Sep 2013 #118
Read Autumn's post. She said it more succinctly than I. lumpy Sep 2013 #122
Yep, if this is so, it's been happening since the Reagan Administration treestar Sep 2013 #42
Wishful thinking from a group that influences nothing. great white snark Sep 2013 #188
Message auto-removed Name removed Sep 2013 #13
30 plus years of trickledown economics...but SURE let's Rex Sep 2013 #18
the new guy did promise both hope and hfojvt Sep 2013 #27
Like I said, blame the new guy. Rex Sep 2013 #29
Truly, it has taken decades to get to this point. People expect miracles over night, especially lumpy Sep 2013 #127
the new guy said he wanted to change it hfojvt Sep 2013 #217
He stood for and still stands for hope and change treestar Sep 2013 #43
Very good point, they are not wizards. Rex Sep 2013 #82
he did not stand for it hfojvt Sep 2013 #216
payroll taxes only go to 107 grand questionseverything Sep 2013 #79
because if they made, say $300,000 or $170,000 or $873,426 hfojvt Sep 2013 #214
The new guy had majorities in both houses in 2009. PeteSelman Sep 2013 #201
The only people to blame are the corporations behind it. raouldukelives Sep 2013 #20
the amazing ability to blame everyone else but Obama... Safetykitten Sep 2013 #21
Your post is confusing lumpy Sep 2013 #129
he was saved by a communist? really? madrchsod Sep 2013 #180
"Please don't call us peeons." - The Proles (99%) Berlum Sep 2013 #24
Blame Obama first. baldguy Sep 2013 #25
No the order of blame goes Reagan, Bush, Clinton, Bush, Obama. They are all to blame. liberal_at_heart Sep 2013 #67
Where does the OP - or the article it points to - blame anybody but Obama? baldguy Sep 2013 #85
Because the other presidents are ex presidents. They can no longer do anything about liberal_at_heart Sep 2013 #89
Bullshit. Ex-Presidents certainly have a more powerful voice that the average citizens does. baldguy Sep 2013 #119
I will agree that they could add to the debate. But because they supported Trickle Down liberal_at_heart Sep 2013 #126
Call me when any of them come out against the status quo - and against their own records. baldguy Sep 2013 #130
When my kid suffers because the public schools are not properly funded and because Race to the Top liberal_at_heart Sep 2013 #136
Yet an ex-president's power is miniscule compared to the current Preisdent. morningfog Sep 2013 #213
Obama is just one man. The stuff you lay out for him to do can't be done in less than 8 years. lumpy Sep 2013 #134
I wouldn't care if he never got one piece of legislation passed. I just want him to stand up for us. liberal_at_heart Sep 2013 #140
He has spoken out re. many issues we care about. He has proven he has the fight, opposition lumpy Sep 2013 #166
look believe what you want. I'm done arguing with you. liberal_at_heart Sep 2013 #167
People love to gripe about their 'poor unfull filled lives' of dire want. Who becomes the whipping lumpy Sep 2013 #121
The whole country is suffering because Obama helps perpetuate Trickle Down Economics. liberal_at_heart Sep 2013 #124
'Trickle Down Economics' is not a simple process. It has taken years for trickle down economics lumpy Sep 2013 #151
Sorry. I just refuse to let them off the hook. Just because it has been the way we have done liberal_at_heart Sep 2013 #160
We have to join the fight to make changes. Obama needs our help to get anything done in lumpy Sep 2013 #177
If by helping you mean vote democrat in 2014, well I will as long as there are liberal liberal_at_heart Sep 2013 #182
No, I didn't mean just voting, support groups (not with money) who have the same interests as lumpy Sep 2013 #184
you forgot nixon, ford, and carter. madrchsod Sep 2013 #181
oligarchy has enjoyed extended prosperity under both parties og1 Sep 2013 #30
Alan Grayson: Thomas Jefferson on the Buffet Rule Zorra Sep 2013 #32
"This isnít supposed to happen following an economic crisis." Well in this one we rewarded the Safetykitten Sep 2013 #33
The President meant well... kentuck Sep 2013 #36
I believe we mostly understand fredamae Sep 2013 #37
This^^^ Safetykitten Sep 2013 #39
Excellent post fredamae. I think you called it right. Autumn Sep 2013 #49
It's just the raw fredamae Sep 2013 #50
I want to sign up too. Autumn Sep 2013 #51
The Dem Party Leaders have fredamae Sep 2013 #52
For over 40 years I have voted in every election. Autumn Sep 2013 #54
Sounds like Me fredamae Sep 2013 #61
So true. MuseRider Sep 2013 #114
I think I love you! n/t Catherina Sep 2013 #64
They live in their own little bubble. They have no idea what regular people go through on a day to liberal_at_heart Sep 2013 #66
Very well said. Thank you. n/t Egalitarian Thug Sep 2013 #75
K&R MotherPetrie Sep 2013 #44
Sure, it "could be" ProSense Sep 2013 #47
Some folks see it as... kentuck Sep 2013 #55
That's OK, "some folks" want it repealed. ProSense Sep 2013 #60
Well to be fair, we have to go back to caveman times, as this trend was in full swing... Safetykitten Sep 2013 #58
Maybe I should read the article?....... socialist_n_TN Sep 2013 #63
I'd like to know who the author is, but I don't want them to have a click to show their advertisers. Kolesar Sep 2013 #77
Lynn Parramore progressoid Sep 2013 #205
I like that picture. Very illustrative of today's American 1%. liberal_at_heart Sep 2013 #71
Have you ever seen the HBO miniseries "John Adams?" Brigid Sep 2013 #198
A very poor attempt to blame Obama Hutzpa Sep 2013 #72
Why does the President feel compelled to compromise the working man to appease "jerk-asses"? mick063 Sep 2013 #100
You see it's always easier to point finger Hutzpa Sep 2013 #106
I find it easy to point the finger because the President only has spine for bad policy. mick063 Sep 2013 #154
Brioches, anyone? ocpagu Sep 2013 #81
Well, if he had fought near as hard for the Working Class & Poor... bvar22 Sep 2013 #90
Not by accident, but by design with the three major branches of government in cahoots with big indepat Sep 2013 #93
Why don't you and the article writer point out the historical obstructionism of bluestate10 Sep 2013 #102
this president could do 1 simple, LITTLE thing he hasn't done xchrom Sep 2013 #113
No he can't, government contract wages are set by law(s) Progressive dog Sep 2013 #207
Think I found original post of this story... macspanicattack Sep 2013 #107
Looks like your site got it from AlterNet and tweaked the headline. Autumn Sep 2013 #110
Nice try. NealK Sep 2013 #161
Sorry...Didnt see the time stamp. macspanicattack Sep 2013 #185
Slopping through the drool in this thread, Phlem Sep 2013 #120
The war with Syria will solve these problems and more. grahamhgreen Sep 2013 #153
And go figure... seabeckind Sep 2013 #173
without the majority in the house and a 51 votes majority in senate there is little that he can do. madrchsod Sep 2013 #179
I wonder what this country would be like if they would spend more time thinking about issues lumpy Sep 2013 #186
The Teapublicans are hoping macspanicattack Sep 2013 #187
yes, if I don't vote democrat I am sure I will blamed for the loss. I don't give a shit. liberal_at_heart Sep 2013 #189
Conscience worked well for Bush... macspanicattack Sep 2013 #192
Come on everyone.... macspanicattack Sep 2013 #193
My son already is in hell. It's called Race to the Top. liberal_at_heart Sep 2013 #195
Sorry for your personal probs that have made you bitter. macspanicattack Sep 2013 #197
fine with me. I have plenty Obama cheerleaders on ignore. liberal_at_heart Sep 2013 #203
There is no argument blue14u Sep 2013 #235
This is what happens when you ask the "best minds" in DC what to do.... Spitfire of ATJ Sep 2013 #191
It is about libdude Sep 2013 #199
K&R The record shows aggressive, proactive pursuit of a coporate agenda, woo me with science Sep 2013 #200
It's Bush's legacy. mzmolly Sep 2013 #208
kick RetroLounge Sep 2013 #210
Meanwhile, Congress remains blameless. NYC_SKP Sep 2013 #215
There are dozens of threads criticizing Congress as well. Look at the threads that talk about how liberal_at_heart Sep 2013 #222
Obama has been in office 6 and a half years, now. Quantess Sep 2013 #230
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