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Dubyanomics

The Republicans’ Wage War.

“[W]ages and salaries now make up the lowest share of the nation’s gross domestic product since the government began recording the data in 1947, while corporate profits have climbed to their highest share since the 1960’s.” An examination of the economy by the NYT reveals the bitter fruit of Dubyanomics for 90% of the nation: “At the very top of the income spectrum, many workers have continued to receive raises that outpace inflation, and the gains have been large enough to keep average income and consumer spending rising…[but e]ven for workers at the 90th percentile of earners — making about $80,000 a year — inflation has outpaced their pay increases over the last three years, according to the Labor Department.

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