Grover Norquist: Middle-class Americans faring better than ever during Trump presidency
Americans for Tax Reform President Grover Norquist on the spending deal, a report the Republican tax reform legislation could give companies an incentive to stay in the U.S. and President Trump's tariffs on China.
How are middle-income Americans doing two and a half years after President Trump took office?
Better than ever.
The real median household income — the household income where half of Americans earn more and half earn less, or the dead center — is now at a record high $65,084.
This is an increase of $4,114 in real 2019 dollars since Trump took office.
How does this compare with Barack Obama’s time in office? In the seven and a half years after the recession ended in July 2009, the real median household income increased by the grand total of less than $1,000.
Because the median income rose about $400 in the Bush years and fell roughly $400 in the first six months of Obama -- the even more depressing takeaway is that from the first day of George W. Bush’s administration to the last day of Obama’s the median income increased about $1,000.
This explains why voters – particularly middle class voters — were in a sour mood in November 2016. Trump promised to change the policies that up until then led to 16 years of little growth in the average incomes.
These numbers come from the Census Bureau’s monthly surveys and were recently published by Sentier Research.
In just two and a half years, these Americans have seen a $4,000 pay raise in real, after inflation dollars, and a tax cut of between $1,400 and $2,900.
But it gets better.
The Heritage Foundation calculates that the average American household benefited from a $1,400 tax cut, thanks to the GOP-enacted Tax Cuts and Jobs Act. And if your household included a married couple with two children, then the tax cut was $2,900
In just two and a half years, these Americans have seen a $4,000 pay raise in real, after inflation dollars, and a tax cut of between $1,400 and $2,900.
But wait, there’s more good news.
Unemployment has fallen to 3.5% and all Americans are benefitting. African American unemployment is at a historic low of 5.5% and Hispanic American unemployment is at 3.9%.
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So why are you watching the talking heads on television repeating themselves day after day about Joe Biden and Ukraine? Because a politicized press is working overtime to keep you from reading the real good news that affects millions of Americans.
Norquist is president of Americans for Tax Reform.