I never said people make less money, just less prosperous. Less prosperous would mean less growth, and for most Americans that's the case since the early 80's. And the graph agrees.
Definitely not. Prosperous does not mean growth or gains. Your own graph has disproven you.
http://visualizingeconomics.com/2006/01/08/richest-20-of-families-by-income/
Note the graph and blurb are exactly as I said. Less financial prosperity started in the mid 70's, I said 1980, for most Americans. Now I'll wait for evidence of lower taxes and less regulation helping most Americans.
This marks the third time you have misread a graph (interestingly enough it's also the 3rd time I'm aware of you attempting to read a graph). What you said would be true ONLY if the total income for all groups was stagnant. It is not, and your OTHER graph showed that. Keep going, this is hilarious.
You can't supply anything but a picture so now you just can't understand anything?
I have already explained to you it is not merely a picture, but a historical event with fundamental economic significance.
No it's not. It is the same thing
Nope. Here's are your quotes:
you
I'll wait for something that shows how lower taxes, less regulation or anything Republicans believe in has actually helped anyone outside of the top 1% of incomes.
you
How has less regulation and lower taxes helped most Americans?
One of these questions is about economics, and one of them is about American standard of living. Two linked, but different subjects. One of these questions is addressed by the economic lessons embodied in everything surrounding the Berlin Wall, and the other is not. So your accusation that I'm non-responsive is false. I responded to your first question, you modified the question and claimed I didn't respond.
Feel free to apologize.
Danoff: here is the point you seem to be unable to understand - there are choices other than Randian extremism or Communism.
I totally understand that.
The last 70 years have been a period in which all the western democracies worked with some variation of a "mixed economy" & it led to an unprecedented increase in general prosperity, which benefited both the rich elites & the middle classes. This is a demonstrable fact: the rapidly improving standard of living occurred in countries that had complex regulations governing financial & corporate affairs AND a progressive taxation system.
All true. Also, those countries had substantially REDUCED taxes and regulation when compared to soviet Russia and (in line with economic principles) benefited astoundingly from that REDUCED taxation and regulation. I was asked to show how a REDUCTION in taxation and regulation could lead to prosperity. I have.
The removal of reasonable regulations on the financial industry were an important contributing factor to the financial crisis & the Bush" tax cuts a significant factor in the growth of the US debt crisis.
Government directed banks to make bad loans (during Clinton's presidency - Community Reinvestment Act for example) then the government bought many of those bad loans. Why would you fault the banks for making loans they knew they had a buyer for? Especially when that buyer is the American public?
What deregulation specifically do you think was an "important contributing factor" to the financial crisis?
I know it's something that you & your fellow libertarian ideologues just can't get your heads around, because you WANT a simple, "mathematical" formula to explain all life's complexities - preferably situated in the cult-like belief in a "natural law", but actually the "Keynsian" era has been massively successful in creating prosperity.
Yet it was Keynsian policies that led to the housing bubble, and Keynsian policies are not pulling us out. Bush tried them, Obama has tried them, they do not work. All economic data suggests that we enjoy prosperity in SPITE of Keynsian policies and, instead, because of capitalism.
If things have started to go off the rails, it's because mistakes have been made in failing to deal with long-term issues in the name of political expediency & passing the buck.
Blaming government?
Anybody who thinks electing Ron Paul President is a reasonable solution to the problems facing the US is completely deluded.
I'm not a Ron Paul supporter. But not for any of the reasons you cite.