Thursday, March 27, 2008

Think This: Were the 1980s A Period of Greed?

Conservatives think it is odd that economic growth when a conservative is president is called "greed," while economic growth when a liberal is president is called "prosperity."

Nonetheless, here are facts about the 1980s:

From 1982 through 1989, the years President Reagan's economic policies were in effect, corporate contributions to charities grew an average of 10 percent per year, outstripping inflation by over 6 percent.

Throughout the 1980s, the average income of all economic segments of the American population rose: the poorest fifth by 10.4 percent, the second poorest fifth by 9.5 percent, the middle fifth by 11.7 percent, the second-wealthiest fifth by 12.2 percent and the top fifth by 13.6 percent. Poverty fell by 1.1 percent. - What Conservatives Think

Except right now we do have a conservative President and we are heading into recession.

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