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Thread: Census finds record gap between rich and poor

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Deuce View Post
    I would also add that every penny of deficit should count against GDP because it's borrowed money :P
    If you want to go make that comparison, there are charts that show the deficit as a percentage of GDP.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by zip98053 View Post
    Hum, the year before Regan took office, the GDP went down by 0.3%. In his first year in office ('81), it went up 2.5%. Then in his second year, it went down again by a painful 1.9%. In Obama's first year ('09), the GDP was down by 2.6% but now it is up. So, the actual numbers say that Regan did make it worse and Obama is making it better and the situation that Obama inherited was much worse than what Carter left Regan.

    It's just awful that the Intenet makes it so easy to check the facts. Makes making an arbitrary claim so much harder.
    Amazing, where you even around during the 80's. Ever pay 17% for a mortgage? Ever hear of something called the misery index? Reagan economic policy didn't go into effect until after his tax cuts passed in August 1981 so 1982. GDP doubled during the Reagan term which you can find at bea.gov. The Reagan economy created 18 million jobs, doubled govt. revenue, and doubled GDP

    Not sure how you can call a 4 million increase in unemployment 3 trillion added to the debt, 1.6% GDP growth, massive expansion of govt. an improvement but to some I guess that is what ideologues think.

    By the way it is Reagan NOT Regan.
    Last edited by Conservative; 10-28-10 at 12:23 AM.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by ender1 View Post
    Your changing your point again. When did we start talking about President Reagan.

    Nobody will agree that the crisis began on January 21st 2009. Not even republican candidates in 2008.

    I think for my self thank you. Please stop trying to insult me. Yo mama is soooo....

    It began on January 21st 2007.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Census finds record gap between rich and poor

    Quote conservative

    The Reagan economy created 18 million jobs, doubled govt. revenue, and doubled GDP
    He did that in less than two years?
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by donc View Post
    He did that in less than two years?

    After the 10% unemployment snafu.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Conservative View Post
    Amazing, where you even around during the 80's. Ever pay 17% for a mortgage? Ever hear of something called the misery index? Reagan economic policy didn't go into effect until after his tax cuts passed in August 1981 so 1982. GDP doubled during the Reagan term which you can find at bea.gov. The Reagan economy created 18 million jobs, doubled govt. revenue, and doubled GDP

    Not sure how you can call a 4 million increase in unemployment 3 trillion added to the debt, 1.6% GDP growth, massive expansion of govt. an improvement but to some I guess that is what ideologues think.

    By the way it is Reagan NOT Regan.
    My apologies to the former President Reagan.

    I was around in the '80s and I did experience the misery of stagflation. The Reagan tax cuts you talk about were actually not that significant for normal people. They were great for Reagan's rich buddies. The top marginal rate was lowered to 50% from 69% but the top marginal rate was 69% for incomes over $215.400. The new maximum rate of 50% was for incomes over $85,600. Folks making over $85,600 (a very big income in '81) got a huge tax decrease to support "trickle down." Normal folks saw hardly any change to their taxes.

    I'm not trying to argue that things are great right now. I would, however, point out that you are willing to give Reagan the benefit of looking at his entire administration but you seemingly are trying to judge Obama based on the fact that he was not able to work an economic miracle in the first 18 months of his presidency. What Reagan inherited was not nearly so bad as what Obama inherited. By the end of his term, things were much better. I think Obama deserves the same opportunity.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by winston53660 View Post
    After the 10% unemployment snafu.
    As well as pretty bad polling numbers. We have a bet in one of my classes to see if President Obama can turn it around like President Reagan did.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by soccerboy22 View Post
    As well as pretty bad polling numbers. We have a bet in one of my classes to see if President Obama can turn it around like President Reagan did.

    Clinton had terrible numbers too and lost Congress.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by soccerboy22 View Post
    As well as pretty bad polling numbers. We have a bet in one of my classes to see if President Obama can turn it around like President Reagan did.
    I think he can turn it around, if he doesn't get to pass any more of his agenda items...

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by FederalRepublic View Post
    I think he can turn it around, if he doesn't get to pass any more of his agenda items...
    Isn't that what he was elected for?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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