Bad News for Blacks

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joeforamerica.com:

Bad News for Blacks

Posted by Rodney Lee on Jul 28, 2013 in Economics, Politics, Taxes

Richard Rahn at The Washington Times has an interesting article about how Ronald Reagan and Barack Obama have done by Black Americans. Of course they had different economic philosophies to say the least. Barack Obama regularly denounces “supply-side” economics and scoffs at the idea that a rising tide lifts all boats. And cutting taxes? Why that just favors the rich, don’t you know.

Rahn sums it up this way: Reagan reduced taxes on job creators by 60%; Obama increased them by 17%. Reagan cut non-defense federal spending by a third; Obama has increased it, to say the least. Reagan cut regulations while Obama has greatly increased them.

• Under Reagan, adult black unemployment fell by 20%, but under Mr. Obama, it has increased by 42%.
• Black teenage unemployment fell by 16% under Reagan, but has risen by 56% under Mr. Obama.
• The increase in unemployment rates has been far worse for blacks under Mr. Obama than for whites and Hispanics.
• Inflation-adjusted real incomes are slightly higher for Hispanics and whites than they were in 2008, but are lower for blacks.

Richard Rahn’s brilliant piece in it’s entirety can be read here: