The Booming Economy (?)

The Howler helps the media break down the disconnect between the booming economy, and the reality of most people.

Just because the GDP is growing nicely and corporate profits are high doesn't mean most people are better off, as Krugman and Reich explain. As with the Bush tax cuts, the economic boom mostly only helps those at the top of the income scale. As Andrew Tobias says, "It's a grand time to be rich in America."

The democrats and pundits simply don't explain this. Capitalism is the best economic system there is, but there is a difference between capitalism that helps hard working people get ahead and live the American dream, and "robber baron" capitalism. And that critical difference is largely a product of government economic and tax policy.