The Purpose of This Bl;og

By and large, liberals are very decent, kind, and compassionate people who genuinely want what is best. This should be kept in mind as we explore the Law of Unintended Negative Consequences near invariably resulting from Leftist big-hearted solutions to societal problems.

Tuesday, July 2, 2013

Obamanomics--Divide Between Rich and Poor

As mentioned previously, one of the key planks of Obamanamics was to shrink the financial disparity between the rich and poor. (see HERE and HERE)  In certain respects this is an admirable goal. reported that: "When President Obama first ran in 2008, he claimed his economic policies would 'foster economic growth from the bottom up and not just from the top down.' He said he'd put in place 'an immediate rescue plan for the middle class' and would end the 'tired, worn-out, trickle-down ideologies we've been seeing for so many years.'"(See HERE)

The results of Obamanomics, however, have been just the opposite. Up until 2009, the poor and middle class and rich were all getting richer. (See HERE and HERE) Yet, after 2009 (Obama's first year in office) the very rich got somewhat richer but everyone else got poorer. (See HERE and HERE and HERE and HERE and HERE)(More recent data HERE and HERE and HERE)

[Update: In December of 2013, the President continues to decry income inequality as though he isn't part of the problem. (See HERE and HERE)]

So, the Leftist LUNC of Obamanomics here has been the increase in income inequality.and escalation of the "...injustice of the growing divide between Main Street and Wallstreet..." (see HERE), or in other words "trickle-up poverty." (See HERE)

Ironically, various Obama and liberal policies have undeniably contributed to the expanding income divide and disadvantaged the poor most of all. The so-called "stimulus package" shifted jobs from the higher-paying private sector to lower-paying public sector, and through expanded entitlements, it encourage people to stop looking for work or quite working and earning an income, and instead collect unemployment or longterm disability pay. (See HERE)  The enactment of Obamacare, with its employer mandates, have forced a number of companies to avoid debilitating insurance costs by cutting back on the hours of low-level workers, making them part-time, which has negatively impacted the annual wages of the poor and lower-middle-class. (ibid and HERE)

[Update 10/26/2015: "1 in 2 Workers Make Less Than $30,000 a Year]

For an explanation as to why Obamanomic LUNCs occur, see: Gov: Wrong Tool for the Right Job - Introduction and Cold Nanny as well as The Politics of Compassion, Emotions, Ignorance, Denial, Blame-Shifting

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