Matt Stoller “Obama Accelerated the Growth of Inequality”

Matt Stoller of the Roosevelt Institute posted a pretty damning blog about the Obama administration’s economic policies at Naked Capitalism. According to the data Stoller presents in his post the 99% should perhaps be occupying the White House instead of Wall st.:

Under Bush, the 1% captured a disproportionate share of the income gains from the Bush boom of 2002-2007.  They got 65 cents of every dollar created in that boom, up 20 cents from when Clinton was President.  Under Obama, the 1% got 93 cents of every dollar created in that boom.  That’s not only more than under Bush, up 28 cents.  In the transition from Bush to Obama, inequality got worse, faster, than under the transition from Clinton to Bush.  Obama accelerated the growth of inequality.

The data set is excellent, it’s from the IRS and it’s extremely detailed.  This yawing gap of inequality isn’t an accident, and it’s not just because of Republicans.  It’s a set of policy choices.”

Read more here.

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