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What Stops Conservatives From Recognizing That Supply-side Economics Always Fails?

By antivirus software Posted in: RISING

• 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
• 61 percent of Americans “always or usually” live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
• 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
• 36 percent of Americans say that they don’t contribute anything to retirement savings.
• A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
• 24 percent of American workers say that they have postponed their planned retirement age in the past year.
• Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
• Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
• For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
• In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
• As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
• The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
• Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
• In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
• The top 1 percent of U.S. households own nearly twice as much of America’s corporate wealth as they did just 15 years ago.
• In America today, the average time needed to find a job has risen to a record 35.2 weeks.
• More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
• or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
• This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
• Approximately 21 percent of all children in the United States are living below the poverty line in 2010 – the highest rate in 20 years.
• Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.

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  1. Law Man says let the FACTS rule Says

    The Rich have used the Conservative Media Bubble to brainwash the masses. They have stolen the money and then clothed their actions around an economic theory. I guess they felt ‘entitled’.

  2. MMM-hole Says

    Unenlightened self-interest.

  3. El Tecolote Says

    I don’t live my life as a sniveling, jealous little twit like you do. That’s what stops me.

  4. ƒ(x)=∫ (0->1) (Libx-Con) Says

    Sad…the conservatives who see this are simply coming up with childish retorts instead of sources, like rational people.
    I’m liberal, but I’ll do it for them.
    PROVE it.
    The free market rocks. It just needs a little regulation.
    The alternative to this supply-side is Keynesian, which is redistribution and has pretty much the same effects from bottom to top. They both claim to be more effective than the other but it’s just not so. Rely on regulated capitalism to generate growth. Rely on social programs to sustain the working class. Rely temporarily on welfare to prevent loss of life. Rely on always on America to cooperate on the international scale.

  5. middlecl Says

    Not to mention that we had to wait for a spill big enough for the free market to create demand for safer equipment. How reactive.

  6. Amerikal Says

    So pls tell me which side of the economic that always not fails

  7. apeman60 Says

    Cut and paste never convinces anyone. What would be your alternative to supply side?

  8. Near Says

    Because demand side would never work. Demand side, you’d have to have oversight over everyone and know what they’d want.
    People like you would never understand.

  9. Cookie Monster Says

    Living my life, working in the real world in a small business is what stops me from “recognizing” that supply side economics fails.
    If you dont understand that when big corporations are hurt, our whole economy hurts, then you have some learning in the real world to do

  10. Liberalism has a delusional bias Says

    It works better than anything your side could come up with libby.

  11. Ron Says

    You have copy/pasted an impressive list of highly questionable statistics (with no sources cited, I notice), but you have failed to indicate how you tie any of this directly to supply-side economics.
    LibFAIL.
    @middleclassman: “Not to mention that we had to wait for a spill big enough for the free market to create demand for safer equipment.” The current administration knew about the problem at the same time the “free market” did, and they didn’t do anything about it either. They were too busy sucking up campaign contributions from BP to be bothered. So… your point is?

  12. Super Liberal Says

    They’ll now complain about the debt or say it’s a lie.
    Sadly, Tax cuts don’t help with government debt either.

  13. Thomas Says

    One word, Bullshite
    All of it

  14. Trust Me! Says

    the simple fact of the matter is this, If you’re willing to work hard, save your earning, get some kind of education, you have the ability to be anything you so desire in the US.

  15. Stereoty Says

    Americans have been on a spending binge for 30 years, and you blame savings rates and lack of wealth on supply side economics? How about debt? The Liberals have been pressing banks to loan more freely since I was a child, and somehow all those articles and protests have been buried. What caused the meltdown? Tax cuts or borrowing? You people have to deal with the fact that the government is unbelievably corrupt or we are doomed. Go to a local political event and check out all the sharks. They are not there so that money can flow to other people. http://www.buffalonews.com/city/capital-…
    In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
    So you think 300 million people should work for the government? Any idea how that will be accomplished?
    • A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
    You understand that the government takes 12.4% of your wages for SS and Medicare? Yes, you pay the other half. It comes out of the bottom line. How about saving that? The average worker loses $1.7 million over 40 years because of your precious programs that pay you what? $1500 a month from age 67? Money THEY keep when you die, and the system is still bankrupt.
    I know how much Liberals hate facts, but here is what happened. http://www.villagevoice.com/2008-08-05/n…

  16. da.yoope Says

    They have a good supply of everything and want to keep it that way. So in effect supply side economics works if your one of the one percent. You know like the leaders we elect and wonder why they don’t represent us instead of the filthy rich.

  17. u_bin_ca Says

    perhaps it has something to do with the fact that people like you take for granted things which, in 1980, were considered “luxuries…”
    …or are you one of those people who actually think that “demand” created all that capital investment that re-invigorated the U.S. economy in the 1980s?

  18. tonysana Says

    Question:
    What stops conservatives from recognizing that supply-side economics always fails.
    Answer:
    USSR

  19. Nancy’s Botox Lips Says

    everything in your cut and paste will be fixed with supply side

  20. Lee Says

    One word-Brains-

  21. Still Quazee Says

    Thanks for the long list of the results of democratic interference in the free market to make the point, although your last line proves that you can still succeed in America despite all the government interference.

  22. S O Says

    Fox News.

  23. 0bozo the Marxist Clown Says

    The fact that it has worked every time it has been tried.
    On the other hand Marxism has failed every time it has been tried.
    You watch MSNBC and listen to NPR don’t you?

  24. Gus Says

    Without a link, I need to question the credibility of the “facts” you present here.
    That being said and assuming what you present is accurate, I am failing to see this as strictly a conservative vs. liberal problem. I think it is a problem with our political system. As Tip O’Neil once said, “Money is the mother’s milk of politics” which goes along with the golden rule, “He who has the gold makes the rules.” The “haves” in this country are buying politicians in order to line their politics. Is it just the conservatives? No. Liberals buy their politicians too.
    I think the data you present shows a widening gap between the haves and have-nots, a shrinking of the middle class. That is alarming. At the same time, I think back to Katrina and the people in need of assistance. Why? It was not Bush as the media would like us to think. I believe in far too many cases it was a lack of personal responsibility. Everyone saw the storm coming. What accounted for the responsible citizens leaving the area and others waiting around for Big Brother to tell them what to do.
    I say that to talk about something like 43% of people have less than $10,000 saved for retirement. There are many options to save for retirement…IRA’s, 401′s, etc. Tax free incentives, etc. Yet one day I told an employee this was a tax break for us little people and we all could save $5 a week. She said she didn’t have that much to save as she lit up another cigarette and made plans to go rent a video at Blockbuster. That is what I see as the real problem in this country…a lack of personal responsibility.
    I could not give a lecture on supply-side economics but I can talk about personal responsibility. My grandmother taught me what I needed to learn to take care of myself. I blame politics in general. Too many politicians on either side just take care of themselves and suck up special interest money. That’s what they really care about. Not you or me.

  25. gregory_ Says

    Liberals believe it too:
    “And the rich are getting richer, but they’re pulling people out of poverty.”
    –Hillary Clinton

  26. Uncle Pennybags Says

    You’ve posted these stats before, or someone else you copy and pasted from anyway. Yet you’ve supplied no proof.
    In fact, I believe the very first stat to be wildly in error. With all the pension plans and private retirement accounts for workers, there is no way in hell that the top 1% own 83% of all US stocks.
    Kinda makes me wonder how accurate the rest of your stats are.

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