Trump Economy Generates Record Setting Middle-Class Gains in Income - Granite Grok

Trump Economy Generates Record Setting Middle-Class Gains in Income

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Remember about 1000 so-called “scandals” ago? When Trump’s tax cuts and his economy were going to help the rich at the expense of the Middle Class.  Guess what?

The tax cuts for businesses raised federal tax revenue and lowered personal tax costs. The economy, from the cuts to the tariffs to the rest of it, have pushed Median income up. 

Under George Bush, the average Family income only rose about 400 dollars over eight years. During Barack Obama’s eight years, the same metric lifted family income by just over 1000.00 dollars. Mr. Trump is doing the Middle Class a great deal better.

The median or average-income family has seen a gain of $5,003 since Trump came into office. Median family income is now (August 2019) $65,976, up from about $61,000 when he entered office (January 2017).

Those are the best numbers in this century and may historically be a record-setting pace. Certainly, one of the best growth periods for the Middle Class in a long time. So good that it has lifted people into higher wage earner tax brackets.

In a 2018 report, approximately 1.5% of Americans rose into the Middle Class while 2.5% rose above the 100K/year income level. That’s not rich. Not even by Democrat standards. But it is a clear sign of income growth. And it is not limited to one class or color of people.

President Trump continues to deliver record-setting job creation and employment growth among Black and Hispanic Americans.

Those ‘crumbs’ Nancy Pelosi and the Democrats were talking about 1000 so-called scandals ago are adding up. And by keeping America less dependent on foreign energy, regular Janes and Joes are spending fewer of those gains to get to their jobs or heat or cool their homes – more money in their pockets.

And yes. This is the part of the story where I remind you that Democrats are promising not just to undo all of that. They’re planning to make electricity and gas cost a lot more too. That drives up the cost of living across every segment of the economy. Every product and service will cost more. Another tax on your wages. Which drains your resources and makes ends harder to meet.

It nibbles away at wage growth while eating a hole in your pocket. You lose on both ends.

You don’t have to like the President’s manner, style, history, or habits. You can agree with the left and the media all day long. But Mr. Trump has more faith in the ability of regular Americans to earn their own living and to keep more of what they receive.  And he is willing to let you decide how to invest that in your local economies with the purchases or donation you make.

He trusted you more than the government before we saw how the government has treated him.

You’d be crazy to think they’d ever treat you any better. 

| Townhall.com