There is an old adage that fits “The rising tide lifts all boats.”
According to Census Bureau data, American middle-class income has surged by $5,000 a year since Donald Trump became president. Looks like Trump has made the middle-class great again.
According to the data, median household income stands at $65,976 – an all-time high and up more than 8 percent in the era of Trump.
The news comes from the Heritage Foundation’s Stephen Moore who had more:
I reported last week in the Wall Street Journal that real median family income had soared by $4,146 under Trump through July 2019. The just-released August numbers from Sentier show a huge monthly gain of $857 in income per household.
Trump’s income numbers dwarf those of both our last two presidents.
During George W. Bush’s eight years in office, the middle-class gained a whopping $401.
Obama did better, but only marginally so compared to Trump. During Obama’s two terms, the income numbers rose by $1,043 a year.
Moore had an even more startling way to measure it:
“The contrast is even sharper when measured on a monthly basis. The monthly rise in incomes under Bush was $4. That number was $11 under Obama and $161 under Trump,” Moore wrote.
But there is more and even better news:
These income numbers are PRE-TAX, so they do NOT include the impact of the Trump tax cut. The Heritage Foundation estimates that the average household has saved $1,400 a year on their federal taxes from the 2017 Trump tax cut. This means many working-class families now have a $6,000 higher after-tax, and after-inflation paycheck today.
So, we’ll see how much income rose even more by the 2020 tax season.
I’ll bet you haven’t heard any of this from the media.