I've been searching for the article, mentioned in the last blog entry, about the middle class actually getting richer during Bush's terms, contrary to what common wisdom is or what was said during this past campaign season. No luck yet, but I have come across a few that differ from the political hysteria.
First, I found this from the Krus Kronicle: The Myth of the Stagnant Middle Class. He looks at a report from Federal Reserve Bank of Minneapolis. It's worth clicking the link because of all the pictures and graphs.
Next, from Newsbusters - settle down, comes this: Exit Polls Show Huge Increase in Incomes from 2004. Add it all up, and the electorate, when viewed strictly from an income perspective, did awfully well the past four years.
I also found this from US News:
A common economic critique from liberals is that people are poorer today than they were in 2000. I have heard that statistic repeatedly here in Denver. (Dems pick that number because it was the peak of bubble boom.) But new IRS numbers show that isn't the case. A few factoids:
1) Adjusted gross income reported on tax returns in 2006, adjusted for inflation, averaged $58,029, up 1.2 percent from 2000.
2) Some 60 percent of the increase in total income went to those making more than $75,000, but less than $1 million a year.
3) Average income rose $2,291 in 2004 and $2,210 in 2005, and $1,369 in 2006the slowdown because of the effect of inflation.
4) Salaries fell by almost 1 percent among taxpayers whose total income was $1 million or more.
So 60% of the gains went to the middle class (2), while the rich (4) saw their salaries fall.