438%

Obama Fan Published:

In the last couple years of change you can believe in the middle class continues to struggle.  Yet someone else has seen their wealth grow from $1.3 million to over $7 million a 438% increase.  Who is that someone?  Hint: he lives in The White House.   

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  • Has  your income increased 438% lately Bruno.....and oh by the way the top 1% you and Obama hate so much..  Under Obama 95% of income gains have gone to who? The poor, NOPE; the middle class? NOPE.  It has gone to the top 1%.

    NEW YORK (CNNMoney)
    President Obama has been loud and clear about his fight against income inequality, but he admitted that the rich have fared far better than the poor during his time in the White House.

    How bout that nifty fact from CNN.  

     

  • New York Times: "The assets of President Obama and his wife, Michelle, were valued as high as $7 million last year, according to a financial disclosure form released by the White House on Thursday. Most of the president's income came from royalties on his three books and investments made possible by the proceeds."

    Not too shabby for a socialist community organizer, eh?  Seriously, he is one of the least rich Presidents of recent history. He and Michelle obviously could have been a lot richer if they'd gone the private route as he was President of the Harvard Law Review and she a top attorney.

    Good GAWD tho, President Obama isn't the one who is gettting rich off of our booming economy, it is ALL rich people...specifically the top 1%.  It's the people who make their money off of the stock market!  Then there are the rich, you know, like the Koch Brothers, who made their money the old fashioned way...they INHERITED IT!  They have 40 billion dollars...a billion is 1,000 million...get it?

    The top 10 percent of earners took more than half of the country’s total income in 2012, the highest level recorded since the government began collecting the relevant data a century ago, according to an updated study by the prominent economistsEmmanuel Saez and Thomas Piketty.

    The top 1 percent took more than one-fifth of the income earned by Americans, one of the highest levels on record since 1913, when the government instituted an income tax.

    The figures underscore that even after the recession the country remains in a new Gilded Age, with income as concentrated as it was in the years that preceded the Depression of the 1930s, if not more so.

    That increase is probably in part due to one-time factors. Congress made a last-minute deal to avoid the expiration of all of the Bush-era tax cuts in January. That deal included a number of tax increases on wealthy Americans, including bumping up levies on investment income. Seeing the tax changes coming, many companies gave large dividends and investors cashed out.

    More generally, richer households have disproportionately benefited from the boom in the stock market during the recovery, with the Dow Jones industrial average more than doubling in value since it bottomed out early in 2009. About half of households hold stock, directly or through vehicles like pension accounts. But the richest 10 percent of households own about 90 percent of the stock, expanding both their net worth and their incomes when they cash out or receive dividends.

    The economy remains depressed for most wage-earning families. With sustained, relatively high rates of unemployment, businesses are under no pressure to raise their employees’ incomes because both workers and employers know that many people without jobs would be willing to work for less. The share of Americans working or looking for work is at its lowest in 35 years.

    There is a glimmer of good news for the 99 percent in the report, though. Mr. Piketty and Mr. Saez show that the incomes of that group stagnated between 2009 and 2011. In 2012, they started growing again — if only by about 1 percent. But the total income of the top 1 percent surged nearly 20 percent that year. The incomes of the very richest, the 0.01 percent, shot up more than 32 percent.

    Thank you President Obama!  We are glad that you made us rich, ended those Dumb Bush wars, killed our enemies and didn't start any wars of your own.