When all is said and done, the Bush legacy is a widening income disparity. Not that this should be a surprise, after all, George W. Bush boasted at a fund-raiser in 2000 of the nation's high and mighty that what he saw there that night dinner was the "haves" and the "have-mores". That top 1% should be quite appreciative. The rest of us, not so much.

Bush's top economic priority was to cut taxes on the supra-wealthy; as he famously said at that dinner, the "have-mores" are his political base. The marginal income-tax rate, the estate tax, the tax on dividends, and the proceeds of the profits tax all fell sharply in his first term. The result is below. The table shows average income gains, adjusted for inflation, from 2002 through 2006.

There's more...