Who says so? Not the so-called "liberal media." Not a Democratic office holder. Not anyone on the left. The message comes from the most conservative and Republican newspaper in the country: The Wall Street Journal. It does not say so in so many words. It does, however, offer the following illustration, which it labels "Divergence":
This diagram describes the growth of our economy from 2002 to 2006, all during the years of the Bush Administration. You will notice - how can you not? - that there is a huge difference between the GDP (Gross Domestic Product) line and the Median Wage line. The GDP zooms upward almost in a straight line. The Median Wage line does not go anywhere. It's in the doldrums and actually goes below 0 in parts of 2005 and 2006.
The GDP line is what Bush is boasting about. Due to his tax cuts, he says, our economy is growing rapidly - more that 15% from 2002. However, who but the rich who live on their investments have benefited? Very few. The Median Wage, or the wage of the typical American, has not improved in any way. As a matter of fact, if you factor in inflation, the typical American, according to this Wall Street Journal diagram, has seen a decrease in income.
Bush boasts that all this wonderful economic growth was brought about by his tax cuts. Not only did the tax cuts go primarily to the rich, the rich were the only ones benefiting from the resultant economic growth. The rich made out at the expense of the rest of us. There wasn't even a tiny trickle down to the non-rich.
This is as it should be, accordng to Republican principles. The rich, Republicans believe, are more virtuous than the rest of us and that's why they deserve more money. They love this situation with two economies, one for the rich and another for the non-rich.
If you want a change in your economic fortune, try the Democrats next time. Democrats believe in one economy: all of us deserve to share in the gifts of a boom.
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