Fact: Economic Growth Faster Under Democrats Since WW II

Now you have well financed and publicized theories/claims by economic conservatives and libertarians about lowering taxes leading to growth. Palin repeated this over and over.

Facts are stubborn things. Not surprisingly equality increases along with economic growth under Democratic Administrations.

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The table also shows that families at the 95th percentile ($180,000)fared almost as well under Republican presidents as under Democrats (1.90 percent growth per year, versus 2.12 percent), giving them little stake, economically, in election outcomes. But the stakes were enormous for the less well-to-do. Families at the 20th percentile fared much worse under Republicans than under Democrats (0.43 percent versus 2.64 percent). Eight years of growth at an annual rate of 0.43 percent increases a family’s income by just 3.5 percent, while eight years of growth at 2.64 percent raises it by 23.2 percent.

http://www.nytimes.com/2008/08/31/business/31view.html

 

We could sure use greater economic growth. Guess this is why the public wants the Democrats back in office.

As the article says on the average we would have seen the economy grow an additional 9 plus percent if the Dems had been in the last 8 years.

I guess it is telling when the GOP/conservatives cannot even spin the statistics to deny stronger growth during Democratic presidencies.