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Yes, this is a continuation of the Obama economy, and THAT is the problem.

January 19, 2020 By johntmay

I’ve heard countless Democrats, when asked about the DOW and unemployment numbers of the Trump economy, say that this is simply an extension of the Obama recovery.economy after Bush.

I agree.

I need to point out that in this economy/recovery, 63% Of Americans Don’t Have Enough Savings To Cover A $500 Emergency and 44% of U.S. workers between the ages of 18 and 64 are in jobs that pay median annual wages of $18,000.

Trump will blame the Mexicans/Blacks/Chinese/Muslims for the aforementioned plight of America’s working poor.

What is the Democratic Party reply?

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Comments

  1. seascraper says

    January 19, 2020 at 7:08 pm

    Public employee pension funds are depending on high returns from investments, private equity funds and hedge funds for their solvency.

    Why would they actually want to attack Wall Street? It’s a show.

  2. scott12mass says

    January 20, 2020 at 5:22 am

    If there really is more than half the people in such crippling abject poverty why didn’t Andrew Yang’s proposal (everyone gets $1000 a month) get more notice/attention? More than half of the people would immediately double their life savings in a month, and people didn’t jump on board?

    • Christopher says

      January 20, 2020 at 8:01 am

      My guess is we’d be talking about that proposal more if it had come from one of the major and better-known candidates.

    • SomervilleTom says

      January 20, 2020 at 10:19 am

      One reason is that mainstream media, government, and both political parties very much prefer that the data supporting this ugly reality is buried as deeply as possible.

      Mr. Yang’s proposal is merely spitting in the ocean. The issue is that a tiny handful — on the order of a few dozen people — control essentially ALL of the wealth. Nothing will change until we change that reality.

      The most effective way to address this is through steep and rigorously enforced gift and estate tax provisions. That’s the way America managed this issue through most of our history, especially between the FDR administration and the Ronald Reagan administration. For example, the tax rate of the top bracket of the estate tax was 70% from 1935 until 1982. It is 45% today.

      Today’s wealth concentration is no accident — it has been sought by the ultra-wealthy for generations. The rest of us are paying the price for this obscene plundering.

  3. Trickle up says

    January 20, 2020 at 1:49 pm

    We will not know the answer to this until the spring, maybe not until the convention in the summer.

    Right now the possible answers run the gamut from “No, let’s do better for folks” to “yes, let’s do it some more.”

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