Spreading the Wealth
October 24, 2008
Tax breaks at the top as a means for creating jobs and sustaining the well-being of workers and their families?
We need not speculate about how effective this has been — or will be.
From the Center for Economic and Policy Research, via Lane Kentworthy at Consider the Evidence:
| Economic Indicator | 2000 | 2008 |
| Unemployment rate |  4.0% |
6.1% |
| Inflation rate | 3.3% |
5.4% |
| Job Growth (preceding 8 years) | ||
| Total nonfarm employment | 21.4% |
4.3% |
| Private sector employment | 23.6% |
3.6% |
| Manufacturing employment | 2.9% |
-22.2% |
| Employment rate (% of population) | ||
| All, age 16 and older | 64.4% |
62.6% |
| Men, age 16 and older | 71.9% |
69.1% |
| Women, age 16 and older | 57.5% |
56.5% |
| Real wage growth (preceding 8 years) | 8.2% |
1.8% |
| Minimum wage (July 2008$) | $6.58 |
$6.55 |
| Family income | ||
| Median, 2007$ | $61,083 | $61,355 |
| Growth (preceding 8 years) | 14.7% |
0.4% |
| Poverty | ||
| Rate (% of population) | 11.3% |
12.5% |
| People in poverty (millions) | 31.6 |
37.3 |
| Uninsured (health insurance) | ||
| Rate (% of population) | 14.0% |
15.3% |
| People without insurance (millions) | 38.7 |
45.7 |
| Personal savings (% of disposable income) | 2.3% |
0.6% |
| College tuition (average per year, 2007$) | ||
| Private four-year college | $19,337 |
$23,712 |
| Public four-year college | $4,221 |
$6,185 |
| Gasoline (gallon, 2008$) | $2.03 |
$4.09 |
| GDP growth (preceding 8 years) | 34.2% |
19.6% |
| Productivity growth (preceding 8 years) | 15.9% | 21.9% |
| Trade balance (% of GDP) | -3.9% |
-5.1% |
| Federal debt (% of GDP) | 57.3% |
65.5% |
| Net foreign debt (% of GDP) | 13.6% |
17.9% |
October 24, 2008 at 12:24 pm
thanks for sharing.