Here is a headline you don’t often see: conservative policies help the poor more than liberal policies. Yet that’s precisely what economist professor Ralph Reiland argues in this column.
I think the poor need another Reagan in the White House.
The income of black heads-of-households dropped by 10.9 percent from June 2009 to June 2013. This decline in black income is more than double the overall 4.4 percent drop nationally in real, adjusted for inflation, median household income during the same four years of alleged “recovery.”
Similarly, real incomes of those under age 25 fell by 9.6 percent over the same period — again, more than double the average drop in household income.
Income in households headed by single women, with or without children, declined by approximately 7 percent over the same four years, a significantly higher drop than the national average.
The income of Hispanic heads-of-households fell by 4.5 percent, slightly more than the national decline, while the income of workers with a high school diploma or less dropped by 6.9 percent.
In contrast to these overall income declines in the past four years, especially among groups with the lowest incomes, a Congressional Budget Office report, “Historical Effective Federal Tax Rates: 1979 to 2005,” showed across-the-board gains in income, with incomes growing at roughly the same pace for all groups, following the implementation of President Reagan’s pro-growth, pro-business economic policies in the 1980s.
In other words, score one for the Gipper.