November 4, 2019
Not to get too political, but I’d like to debunk a popular myth thrown out there by the Democratic party in general.
Joe Biden, Elizabeth Warren, and Bernie Sanders have all claimed that gains borne out of President Trump’s policies have gone exclusively to the richest American corporations and individuals. Warren even said people are working 2-4 jobs to keep their incomes from falling.
According to the latest census data, adjusted gross incomes (AGIs) for the middle class have jumped by $5,003 since President Trump took office. In fact, the average AGI for middle class Americans is $65,976. That’s an all-time high, and up more than 8 percent under the Trump administration.
Contrast that to the 16 years prior:
Income under President Bush went up only $400, part of which can be blamed on the 2007-09 recession. During President Obama’s administration, median incomes rose $1,043 over eight years. In 16 years, that’s less than $1,500 total.
The gains under President Trump have been much faster and in much less time. Also, these data are pre-tax, so they don’t include the positive impact of President Trump’s tax cuts, which The Heritage Foundation estimates to be $1,400 per household on average.
That means average Americans have nearly $6,000 more in their pockets than before President Trump began his presidency.
Democrats want to blast the president, but these data don’t support their arguments. This “Trump Jump” is actually one of the biggest middle-class success stories of all time.