Monday, May 02, 2016
Inequality Created By GOP's "Trickle-Down" Economics
I have posted charts similar to this before, but it cannot be repeated too much. It shows the consequences of the failed Republican "Trickle-Down" economic policies. Note that from 1947 through 1979, the rise in productivity was pretty much matched by a rise in wages and compensation for American workers. That changed in 1980, when the Republicans gained enough political power to change the economic policies of the federal government.
They imposed a system that tilted the economic playing field to favor the rich (and the corporations). They told Americans that giving more to the rich would benefit everyone, because much of that extra money going to the rich would trickle down to everyone else in the country. But that didn't happen. They rich got richer, and everyone else got poorer (thanks to stagnant wages and rising inflation).
Note that since the GOP policy was instituted in 1980, productivity has continued to rise but wages and compensation have not. That's because the policy encouraged companies to keep most of the rising productivity instead of sharing it with workers (as had been the case before 1980).
The policy has been tragic for workers, and has created the largest gap in wealth and income (between the rich and the rest of us) since the 1920's. And that gap continues to grow larger with each passing year -- because the Republicans have had the power to block any Democratic attempts to return to economic rules that are fair for all Americans.
This is a powerful reason to vote the Republicans out of power in 2016.
NOTE -- The chart above is from currydemocrats.org.