A Lesson in Fairness For Obama

Posted by on Dec 08, 2011 at 7:41 am

Obama apparently slept through the 1980s, when Reagan’s tax-cutting, free-market policies unleashed an economic powerhouse that drove two decades of growth, produced record low unemployment and improved prosperity for everyone.

But by Obama’s own measure, the country has gotten more “fair.” The richest 1% now pays almost 40% of all federal income taxes, up from 25% two decades ago, while the bottom half pays only 2%, down from 6%. The federal regulatory state has never been as big, and government spending as a share of the economy is at record levels.

What’s unfair is what these policies have produced — a woeful economic recovery that’s hurt the middle class the most.

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