https://www.heritage.org/markets-an...6yHgQ-5-e3lb1EWzMwGGHU8janaJqHOS0zi6P6x0G0YME This good news will be told a lot as the campaign heats up. MAGA "The $5,003 rise in middle-class incomes is especially impressive given that incomes only rose by $1,200 in the seven years under Obama — after the recession ended. If the media, liberal think tanks and Democrats in Congress were truly concerned about the economic well-being of “hard-working families,” as Elizabeth Warren likes to say, they would have cheered to the rafters this amazing news of rising incomes for nearly all groups."
If you're going to deficit spend a trillion a year, I would hope there would be something to show for it.
I ****ing love me some Trump! Oh, except for the tariffs. https://www.cnbc.com/2019/08/19/heres-what-new-tariffs-will-cost-an-average-american-household.html Oh ****, the cost of living went up. https://inflationdata.com/Inflation/Consumer_Price_Index/HistoricalCPI.aspx?reloaded=true Ah ****! That ****ing orange monkey capped SALT deductions, which impacted the middle class the most, including myself, though anecdotal, to the tune of several thousand dollars, but also 10,000,000 others. But middle class households have $5K more ( less the other icky stuff) than they did 10 years ago! Which almost is like having more money, but not really, so MAGA!
The median household income 2019 is $63,000, not $66,000. Of course, I am not surprised that the Heritage Foundation would "massage" the numbers to support their ideology.
Where can I find a graph of this income over time so I can compare? I'm looking at real median household income over time, and that is actually slowing down from a big spike that started in 2014.
"But what is not ever mentioned in the article is that the data come from the Census Bureau’s "Current Population Survey," which is the gold standard of economic data. The two Sentier statisticians who analyzed the Census data are probably the most knowledgeable people in the country on this income data. Gordon Green was the chief of the income bureau at Census for more than a decade, and his colleagues at Sentier helped build the economic model Census uses to this day. They have worked at the income division of the Census Bureau for a combined 40 years. They are scrupulously nonpartisan, and no one has ever challenged their integrity. "We just report the data," says Gordon Green of Sentier. Sentier Research has been well-respected by journalists for years. But, apparently, the Sentier numbers become unreliable when they point to good news under Trump."
Just curious how much this study is factoring in the rising cost of healthcare, education, housing, rent, student debt, tariffs, and childcare. Thanks.
What is our current debt (just under trump) divided equally between all taxpayers? Is it less than $5,000? Does your figures take into account inflation which was minimal under Obama but not under trump? Also some of the data used by the extremely unbiased heritage foundation seems false... Not completely surprising
Better to deal with those increases with a $5K rise in three years than a $1,200 rise in seven under Obama.
Not saying it was *because* of Obama, but every major economic indicator rose while he was president, and has generally continued along the same trend since Trump came in office.
For whom? Median household income began spiking in 2014 and that growth has slowed since Trump came into office.
I think it is best to look at real median household income. This does a little to take into account cost of living increases. https://fred.stlouisfed.org/series/MEHOINUSA672N
Looks to me like it actually slowed under trump, maybe I am reading it wrong as @Paul7 is usually beyond reproach.
Good point. Unless you factor in the cost of living, the number is meaningless. People like to talk about how California has a great economy and that people make more money here. When you factor in the cost of living, we are the poverty capitol of the US. Trumps tax cut actually raised taxes on the wealthy, which makes him a Democrat in sheeps clothing. While I oppose tariffs, it is more than justified when it comes to China. We simply cannot afford to ignore their theft when there is no shortage of cheap labor elsewhere. Too bad no one in either party gives a dame about you and your family. Why is Trump a monkey for capping SALT when there is no mention of those those making your life SALTy?
Can you cite the Census numbers? They have a website, knock yourself out. What I can tell, the 2018 numbers were just released in Sept 2019: https://www.census.gov/library/stories/2019/09/us-median-household-income-up-in-2018-from-2017.html The real income increased 0.8% from 2017 to 2018, to $61,937. I doubt median income rose in one year by $4,000.
Sorry you don't the real answer, complain to the Census Bureau. The LW might have a little more credibility if they admitted Trump has done some things right.
From your link in the Heritage Foundation article: "Stop right there. Yes, it is true the data comes from Sentier Research -- a private firm. But what is not ever mentioned in the article is that the data come from the Census Bureau’s "Current Population Survey," which is the gold standard of economic data. The two Sentier statisticians who analyzed the Census data are probably the most knowledgeable people in the country on this income data. Gordon Green was the chief of the income bureau at Census for more than a decade, and his colleagues at Sentier helped build the economic model Census uses to this day." In other words, these are not data published by the Census, but rather from a private company that "analyzed" the Census data. Okay!!!
The data is from the Census Bureau. I guess if its wrong middle class wages really didn't rise $1,200 under Obama.
Well, if they are from the Census bureau, then you should be able to come up with a citation. Otherwise, can we call it Heritage Foundation propaganda? Second, of course the heritage Foundation likes to pretend that GWB's great recession didn't exist and theta the drop in real income from 2007 to 2011 was Obama's fault. Typical massaging of data to make and ideological claim for supply side policies. Nothing new.
Obama was dealing with an economy in free-fall that was shedding 700,000 jobs a month. What is Trump's excuse for these insane deficits?
