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Under Biden: The Middle Class Is Getting Poorer

Unleash Prosperity Hotline
Issue #370
1) Under Biden: The Middle Class Is Getting Poorer

Our colleague Andy Puzder has compared real wage gains under Trump versus Biden so far.    

Under Trump, real median income hit an all-time high since 1999, and fell, slightly in 2020 due to Covid shutdowns. 

Under Biden, wages are rising, but inflation is outpacing the paycheck gains. Maybe that’s another reason workers aren’t working. 

2) Does Biden Really Believe Americans Don’t Pay Enough Taxes?

Before Democrats in Congress pass the economically ruinous $3 trillion tax hike, they should pay attention to a new analysis by Terry Jeffrey an ace editor at CNS News. He finds that the average family paid more in taxes last year than was spent on food, clothing, health care, and entertainment. Taxes were $17,211 versus $16,840 for these other family expenditures.

Yes, we know that Biden promises only those in the top 1% will pay the $3 Trillion tab, but the news leaks of energy taxes, tobacco taxes, import taxes, car taxes, and the like have put the lie to that claim. Anyone who believes Biden probably should pay more taxes for the crime of being so gullible.

Don’t take our word for it. This is the official distributional score of the House Ways and Means version from the Joint Committee on Taxation. It shows the bill raises taxes starting at $40K, not the $400K Biden promised.

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