Friday, June 3, 2011

Obama's War on the Middle Class Transfers Wealth to the Rich!

Even the Left agrees: the middle and upper middle classes lost the most in 2009, and they lost it to the rich.

Unfortunately for America, Obama's communist-inspired redistribution of wealth redistributes it from everyone to the rich.

Take whatever he says and always expect the opposite.

As seen here:

The bottom income quintile (households earning $20,453 or less a year) earned 0.5% less on average in 2009 than in 2008.

The 2nd income quintile (households earning $20,454 to $38,550 a year) also earned 0.5% less on average in 2009 than in 2008.

The 3rd income quintile (households earning $38,551 to $61,801 a year) earned 0.8% less on average in 2009 than in 2008.

The 4th income quintile (households earning $61,802 to $100,000 a year) earned 1.0% less on average in 2009 than in 2008.

The top income quintile (households earning more than $100,000 a year) earned 0.3% more on average in 2009 than in 2008.