Thursday, September 10, 2009

Trickle Down to Nothin'

The Census Bureau's annual look at income and health coverage (based on surveys conducted in March) is out today. The rise in the poverty rate and in the percentage of Americans without health insurance got the headlines. But here's a fact that for ome reason the Census Bureau didn't emphasize: The median household income in 2008 was $50,303. The median household income in 1999, expressed in 2008 dollars, was $52,748.
h/t Justin Fox, Time Magazine

The Bush years were the trickling-downest trickle-down-economics years ever, yet all that deregulation and tax-cutting didn't lead to prosperity for the common guy. Who's surprised? Raise your hand, the one that you aren't using to write a resume for your second job.

The good news for Republicans is the median is bound to drop even more this year. If they can just wait a few months until we forget this report, they can blame it on Obama!

No comments: