New Census Data Shows The Trump Economy MAJORLY Benefiting The ‘Less Well-Off’
Minority groups are the principal beneficiaries of the Trump economy; this isn’t trickle-down, it’s surge-up.
The census figures are coming in and the data is astounding; The prosperity that is occurring among the poor and middle class is historic. The data debunks those claiming the Trump economic policy is only helping the rich.
Since taking office, the President has had a policy of tax cuts, deregulation, and making trade fair. He lowered the corporate tax and that has made the United States a jobs magnet. Recent reports show the revenue to the federal coffers, despite lowering taxes, is at historic highs. (Now, if he will just focus on cutting wasteful spending!)
The President has followed through on his campaign promises, and he said while on the trail that he would bring economic prosperity and ‘Make America Great Again’!
Conrad Black details the findings that the Census has discovered in a great piece at the National Review:
The census report ten days ago revealed workers’ earnings increasing at 3.4 percent annually, a rate not seen since the best of the Reagan years, and the poverty rate has declined to 11.8 percent, the best figure that has been recorded since the end of the Clinton administration and still resolutely proceeding in the right direction.
Unemployment is at its lowest percentage since the Lyndon Johnson administration more than 50 years ago (and the numbers then were helped by having 545,000 conscripts in Vietnam). Minority groups are the principal beneficiaries of the Trump economy; this isn’t trickle-down, it’s surge-up. Average income for female-led single-parent households jumped 7.6 percent last year, well ahead of gains in higher income groups.
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The poverty rate among female-led households fell 2.7 percent for African Americans, and 4 percent for Hispanics. Industries largely populated by women (and, historically, exploited women), especially hospitality and, to a lesser extent, health care, showed strong earnings gains, even as unemployment rates for African-American and Hispanic women fell to under 4.5 percent.
Another partisan Democratic falsehood that is exposed by the census is the myth that the middle class is shrinking. The percentage of total families at the lowest economic levels has fallen by over 1 whole percent and the brackets from $50,000 to $150,000 and above $200,000 have both increased by almost 1 whole percent (several million people in each case). There were sharp increases in the incomes of younger families (up to age 34).
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This is astounding. Bill Clinton stated it well: It is the economy, stupid. As the beltway focuses on DC drama, the average American is doing much better financially, in many ways.
Most of the economic growth has actually been among the lower and middle class levels. More than that, 6 million people have been lifted off of food stamps. You will remember that food stamp usage hit historic highs under Obama, and he was proud of it. Usage is now at lows not seen in a very long time.
It really always has been an easy equation. Wealth does not sit in Scrooge McDuck’s Vault. It is ALWAYS invested somewhere in America. Government does not spend money as wisely as the people. It is always rife with waste, fraud and abuse. In fact, it costs taxpayer money to just collect taxes!
It is the people’s money. The people are better at spending and investing.
And some want to reverse course? Silliness!