Obama claims that the growing inequality is morally wrong and undermines the very essence of America.” What he won’t tell you is that the people who put him in office, women, young people and minorities, are the one’s suffering the most under his socialist “economic” policies.
According to the Census Bureau’s formula for calculating income disparity [Gini Index] the distance between rich and poor has increased more under Obama than any presidency in the last twenty-five years. The poorest 20% of families saw their real average income continue to fall each year from 2009 to 2011 — the last year for which the Census has data — while the top 20% recouped losses suffered in the recession. Since 2009, there are 2.7 million more people in poverty, 14 million more on food stamps, and 4.3 million long-term unemployed.
Emmanuel Saez at the University of California at Berkeley used IRS data to conclude that during Obama’s first two years in office, the rich raked in 93 cents of every new dollar of income created. As a result of Obama’s policies, 121% of the gains in real income during Obama’s ‘recovery’ have gone to the top 1%. By comparison, the top 1% captured only 65% of income gains during the Bush expansion of 2002-07, and 45% of the gains under Clinton’s expansion in the 1990s.
Not only are out freedoms under assault, we’ve seen our life savings shrink, interest rates at 0, the Fed printing funny-money, a lethargic economy, lost jobs, the longest sustained unemployment in fifty years, a national financial crisis, historic debt, faked unemployment numbers and inflation rates, the government seizing control of our health care, the largest tax increase in our history due to ObamaCare, rules and regulations that are strangling small businesses and our energy industries, all as Obama continues to take lavish vacations and wastes billions on green energy projects for non-existent global warming. Does that sound like he really cares?
Is it possible he does not see the damage he is causing or is it deliberate? His latest ‘I hope you think I really care’ scam is to raise the minimum wage from $7.25 an hour to $10.10 an hour, a policy he hopes will save Democratic control of the Senate. Claiming that an increase in the minimum wage will life the middle class and generate jobs, Obama has been attempting to sell another socialist agenda even after the CBO reported that increasing the minimum wage to $10.10 would result in the loss of another 500,000 jobs. That is half a million jobs people!!!! Do you not get it?
An article in Forbes asks: “If raising the minimum wage over $10 will save the middle class, why not raise it to $50 an hour? That would provide someone working 2,000 hours a year an income of $100,000, eliminating poverty and stimulating the economy. Obviously $50 an hour would be detrimental to employment, it’s just a matter of degree.”
As a poverty program, raising the minimum wage is like killing flies with a shotgun. About 60% of the officially poor don’t work, so the only thing raising the minimum wage does for them is to make it harder to get a job if they ever decide they want one and increase the cost of everything they must buy or use.
It is estimated that less than 15% of the total wage increase will go to people below the poverty line and less than a third of those receiving the minimum wage are families below the poverty line. Most minimum wage workers are from above median income families. So, most of the people benefiting from the minimum wage are not the intended targets of the “anti-poverty” aspect of raising the minimum wage.
If raising the minimum wage is such a great idea, why did 600,000 teen jobs disappear when Congress raised it in 2009?
Common sense says that every dollar a minimum wage worker receives must have come out of somebody else’s pocket, either small business owners or their customers. The money for a higher minimum wage does not come from thin air. The Law of Demand always works: the higher the price of anything, the less that will be taken, and this includes labor.
Lets face it, there are far too many really poor people in this world, most of which must try to survive in miserable conditions. Unlike the ‘poor’ in America who have air conditioning, televisions, cars, smartphones, computers, etc., these people have little in the way luxuries, clean water, education, jobs, medical care and decent housing. But destroying America’s economy is not the answer to lift the poor out of poverty or save the middle class from extinction.
“The President talks a lot about income inequality, but the real gap we face today is one of opportunity inequality. And with this administration’s policies, that gap has become far too wide.” Rep. Cathy McMorris Rogers