Wednesday, April 02, 2008

YES. THE GOP DOES ENGAGE IN CLASS WARFARE

(h/t Kevin Drum)



We know that the stock market has done better under Democratic presidents since WW II and know we know that the "little people" do better also. From Dani Rodrik's blog:


It comes from Princeton political scientist Larry Bartels' new book, soon to be released. What it shows is the difference that the President's party affiliation makes to the distribution of income during the four years of the president's term. (The distributional outcomes are shown with one year's lag.) When a Republican president is in power, people at the top of the income distribution experience much larger real income gains than those at the bottom--a difference of 1.5 percent per year going from the bottom to the top quintile in the income distribution. The situation is reversed when a Democrat is in power: those who benefit the most are the lower income groups. If you are in the bottom quintile, the difference between having a Democratic or a Republican president in office is an income gain (or loss) of more than 2 percent per year!

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