While Joe Biden simply repeats his claims to be building an economy “from the bottom up and the middle out,” and strangely brags about slight reductions in the rate of inflation that shot upward under him, our friend Stephen Moore provides yet another handy visual on how inflation has outpaced wage gains since Biden entered the White House:
Joe Biden the Wage Slayer
Apparently nothing is too preposterous for Joe Biden and his apologists. They attempt to rationalize out-of-control inflation and wage erosion as a “Putin Price Hike,” but a simple chronology immediately refutes that (unless Vladimir Putin somehow took control of the U.S. economy in January 2021):
“Putin Price Hike?”
The Biden Administration’s failures aren’t exclusively overseas in nature. For seven consecutive months now, average U.S. hourly wages have declined when adjusted for inflation.
The Biden Inflation Boom
From the U.S. Census Bureau, median household income rose by 6.8% in 2019 – a record one-year increase – to a record high of $68,700. Notably, under the supposed racist President Donald Trump, those 2019 income gains were largest for minority groups. And since 2016, median income has risen 9.7%, which is fantastic news for Americans, even if it might be bad news for leftists in their disinformation campaign:
Record Income Rise in 2019
From the official federal Bureau of Labor Statistics and our friends at the American Enterprise Institute (AEI), a nice visualization of how the Trump economic agenda has most benefited those in the lower-wage industries starting in 2018 after tax reform took effect. So much for leftists’ class warfare attacks on tax cuts and deregulation.
A Trump Bump
From the U.S. Senate Joint Economic Committee, a stark illustration of the sharp increase in wage and salary growth for full-time employees in the bottom 10% of earners:
The Poor Get Richer
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