| Tuesday, September 9, 2008 - 03:57 pm |
Here's an interesting article for you democrats-are-socialists-and-will-bankrupt-the-economy peeps. Kindly take this post in the spirit it is given - do not simply dismiss it out of hand. Perhaps take the time to look at the figures and compare them with figures from other sources.
Most of all, make sure that however you vote in an election, you are fully informed of as many aspects as possible. The price of democracy is eternal vigilance - don't be fooled by misinformation from biased news sources (*cough* Fox News *cough*):
Larry Bartels, a Princeton political scientist, compares the growth in income during Republican and Democratic Presidencies for 1948-2005 and 1980-2005 (in each case, allowing one year for policies of a new presidency to bed-in).
He demonstrates that, not only does income increase by more under a Democratic president, but the gap between rich and poor closes (the socialist element). Despite, the closing of the rich-poor divide, the richest 20% still get richer under a Democratic president than they would under a Republican.
His book, Unequal democracy: The political-economy of the new gilded age, is available from Princeton University Press and a brief discussion is available on Wikipedia.
Combine that with national debt and you get a very interesting picture. Here is a Wikipedia table of US national debt by President.
NOTE: This does not take into account external economic events as Larry Bartels did.
It seems that under every Republican President since Nixon/Ford (1973) the US increased its national debt as a percentage of GDP. Likewise, under every Democratic President as far back as the table goes (1945) the national debt decreased as a percentage of GDP.
So, broadly speaking (and I am aware that this may be a gross oversimplification), under a Democratic President everybody gets richer (both individuals and including the country as a whole) and the gap between rich and poor closes making the US more equitable. The rich still get richer than under a Republican President.
Under a Republican President, the country goes into greater debt and not everybody gets richer. The gap between rich and poor widens.
\me prepares for the backlash.