Re: Kerry Ooops
Out of context: Reply #69
- Started
- Last post
- 213 Responses
- mrdobolina0
Here is another reason why bush sucks...
New government data also shows that President Bush's tax cuts have shifted the overall tax burden to the middle class from the wealthiest Americans.
The U.S. jobs market is soft, sending wages down. Hiring came to a near standstill last month, with companies adding just 32,000 new jobs overall, stunning economists who had expected seven times as many.
More than a million jobs have been added back to the 2.6 million lost since Bush took office, but they pay less and offer fewer benefits, such as health insurance. The new jobs are concentrated in health care, food services and temporary employment firms, all lower-paying industries. Temp agencies alone account for about a fifth of all new jobs.
Three in five pay below the national median hourly wage -- $13.53, said Sung Won Sohn, chief economist for Wells Fargo.
On a weekly basis, the average wage of $525.84 is at the lowest level since October 2001.
The income gap is showing up in booming sales of luxury items. Porsche Cars North America Inc. says sales are up 17 percent for the year. Strong sales at Neiman Marcus, Nordstrom and Saks Fifth Avenue overshadow lackluster sales at stores such as Wal-Mart, Sears and Payless Shoes.