Uh-oh! I thought Trumps economic and tax policies were all about making the richer richer and the poor poorer. That those policies like Biden pledges he will do should all be rolled back and we go back to his policies of the non-recovery and worst employment and wage record in modern history. "The Federal Reserve on Monday published its Survey of Consumer Finances as it does every three years. The report provides a snapshot of American household debt, income and wealth across demographic groups. Median real incomes grew 5% from 2016 to 2019, the Fed reports, but it buries the lead. Lo, “families at the top of the income and wealth distributions experienced very little, if any, growth” in net worth between 2016 and 2019 “after experiencing large gains between 2013 and 2016,” while “families near the bottom of the income and wealth distributions generally continued to experience substantial gains.” That’s a long way of saying wealth inequality declined. Between 2016 and 2019, white, wealthy and college-educated households had relatively less income growth than other groups, the Fed notes, adding that “more broadly, the income gaps between families with a college degree and those without one decreased.” Real median incomes grew 9% for Americans who haven’t completed high school and 6.3% for those with only a high-school diploma while declining 2.3% among those with a college degree." https://www.wsj.com/articles/the-wealth-gap-shrinks-11601420393?mod=opinion_lead_pos1 But let's toss that all aside and go back to the failed Democrat policies where the rich got richer and the poor got poorer.
Democrats don't want blacks to earn their money. They want them to beg for it, like pets begging for food. That makes them feel superior.
Clever ruse by Bluesguy. The article is behind a paywall and he knows that most readers will not be able to access it. Any rise in the income of low earners is due to a widespread movement to increase minimum wages which has nothing to do with Trump.
I think it's great that Trump is so vetted...he's been vetted more in 47 months then Racist Joe has in 47 years. And the dems have only come up with the fact he pays taxes, and never conspired with Russia Meanwhile, Quid Pro Joe and his family is making millions off China .....you all just don't care. Sad
Time for bogus Complex propaganda relying on laughably bent definitions of "wealth" that exclude personal property, residential real estate, intangibles, effectively everything rational adults consider to be "wealth" to combat these inconvenient facts! In before the next bogus academic "study" cram-full of nebulous social science semantic lies emerges... that no one who has ever -earned- a paycheck will take seriously.
Gotta rate that "mostly false." Some of the rise in income is because of minimum wage laws, but most is actually not. Many companies that employ very large numbers of people have raised their wages independent of state minimum wage laws. Target for example is at $15 an hour starting pay, in all states. Its anecdotal, but where I lived last year in Pennsylvania ($7.25 Minimum Wage) CVS and Walmart were competing for workers and both raised their starting wage twice inside 3 months. CVS won as they raised all hourly wages and not just the starting wage.
I can't read your article as I don't have a paid subscription. So the question I have is two fold, why did they make gains from 2016 until the pandemic? I ask because Trump took office January of 2017, and like transitions, I don't think the first year or two there's much major economic policy changes that you can see in the data that rapidly. All economic data is lagging anywhere from months to quarters to a year. So without reading the article, though it's opinion piece in the WSJ, I suspect they aren't talking about anything that happened prior to Trump's presidency that would have contributed to this gap shrinking, am I right? When I try to find other sources to corroborate the WSJ link I can't read, there aren't any. Here's one I did find that doesn't really sound as good as yours... https://time.com/5888024/50-trillion-income-inequality-america/
I'm with you. What I see says Obama grew it faster in his last 3 years than Trump did in the first 3.
let’s face it. America, even in the middle of a chinese virus is better then under the obama/biden regime
Growth slows once you've recovered because you are now adding entirely new jobs that have never existed before. I'm guessing it has to do with ramping up production after a depression vs the addition of entirely new businesses in our economy.
Obama is a boogyman for the right like Trump is to the left. Thy are both exaggerated. Most decisions Obama made were not his own anyways and Biden will be no different.
An uptick on housing prices caused by increased demand due to lower interest rates by the fed in response to a slowing economy would increase a lot of regular people's "wealth".
well that certainly true about biden and that was evident last night. he will be run by harris and the radical left which is more scary
Housing has been doing fine and the earnings for the middle and lower earners increasing while those at the top saw no increases which blows Biden and the Dem's claims all the good news has been only foebthose at the top.
It's the WALL STREET JOURNAL and I gave you the salient parts. Now prove your point, back it up that it is only minimum wage workers.
well he signed the Biden/Sanders Manifesto, he has AOC as a top advisor, he picked Harris, who was ranked the most liberal Senator in 2019....the signs all point directly too it
