The latest Census Bureau Current Population Survey data now show that middle-class incomes, after adjusting for inflation, have surged by $5,003 since Donald Trump became president in January 2017. Median household income has now reached $65,976 – an all-time high and up more than 8 percent in 2019 dollars under the Trump presidency.
These numbers contrast sharply with the 16 years prior to Trump’s presidency. In the eight years that George W. Bush was president, median income barely showed any gain, up just $401 thanks to the deep recession of 2008.
In the seven and a half years that Barack Obama was president, and not including the end of the recession, which Obama inherited, incomes inched up by $1,043 (June 2009 – January 2019). This means that in the 16 years before the Trump presidency, incomes rose by about $1,500 while in less than three years middle incomes have risen three times faster.
Someone tell Bernie and Liz. Now back to impeachment!!!
Link: https://www.heritage.org/markets-and-finance/commentary/middle-class-incomes-surging-thanks-trump-policies
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with some degree of skepticism.
The red line is the "Middle Class", by definition.
The upper percentiles also get the benefit on investment income, which your typical median income person will not benefit from as drastically... especially given the growth of the market. So, that will always have a impact with you start looking at income levels rising across population segments. That isn't a bad thing, just simple facts. Also, the article clearly states that the figures are all PRE-TAX numbers, which don't take into account the Trump tax cuts... which regardless of what you bleeding heart liberals want to try to spin it as, they have impacted the middle-class greatly.
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It shows the rich are getting very much richer and the middle class, not so much.
So under Trump the medium income rose $5,000 to $65,000 and that the spread between high income versus medium income has grown. But that would also mean that under Bush and Obama the gap was even greater. So while the gap continues to grow, the medium or middle class income did grow under Trump unlike the former 16 years. The statistics bare that out. But you must admit that while the rich are getting richer but so is the middle class. More than Bush and Obama. Is that all you got? Can’t you just be honest with data? Stop being such a partisan hack. Trump is hardly perfect but his economy is better for the middle class and they know it. Data doesn’t lie. Low unemployment, higher wages, tax cuts put more in your purse.
There is actually not much growth in the actual middle. Geddit?
The clown who’s article you referenced is fooling people who don’t understand statistics, like you.
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Mean is the sum of all incomes, divided by the number of households.
Median is the income of the household right in the middle of an ordered list of household incomes.
So, if I'm the median person, and my salary remains unchanged, but those above me all get raises, and those below me do not, I'm still the median, and median line would stay flat (even though the mean would rise, as you point out). So, the median actually has to rise for the graph of the median to rise, so the rise is real in terms of median.
I am fully prepared to admit that I am missing something, so feel free to correct me.
1) Clearly the top 50% of the population is doing better, with increasing degrees of better as you go up the income scale. Even within the middle quintile (the middle class) I’m sure the upper half of that population is doing better than the lower half. Also clear, there is not meaningful growth in the lower two quintiles or even, really, the middle quintile. Therefore, both the mean and median income have risen, but you can’t claim that the actual middle class is doing significantly better.
2) Clearly the stock market is hugely significant in the growth of incomes in the upper two quintiles, as someone noted above. That’s fine, but recognize it for what it is, and don’t assume it has any meaning for actual wages that people earn.
3) The data comes from the same survey that generates the monthly unemployment rate figure. The unemployment rate is the buck-toothed stepchild to the actual non-farm payroll number that significantly moves markets on the first Friday of every month. The unemployment rate is viewed with raised eyebrows by bond traders, for what it is worth.
Remember this is households. Husband, wife, some children. That makes a difference in their life’s. Wouldn’t you agree? Did the upper case get more? Probably but households also did. You could argue about the disparity but not the facts.
You can make a case that higher income earners received more. It doesn’t change the fact that through higher employment, higher wages, and lower taxes household income has risen. Another effort by liberals to downplay the achievement. But even if you buy their argument, what a disgrace Bush and Obama were in delivering to the middle class.