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Middle-Class Incomes Surging -- Thanks to Trump Policies
The Heritage Foundation ^ | Oct. 10, 2019 | Stephen Moore

Posted on 10/17/2019 2:31:23 PM PDT by Brown Deer

Key Takeaways

1. Middle-class incomes, after adjusting for inflation, have surged by $5,003 since Donald Trump became president in January 2017.

2. These surges in income, have occurred at exactly the time when many liberal economists and media talking heads were shouting “recession.”

3. These latest income numbers also squarely contradict the claims by Democratic presidential candidates.

(Excerpt) Read more at heritage.org ...


TOPICS: Business/Economy; Extended News; Front Page News; News/Current Events; Politics/Elections
KEYWORDS: boycotts; economy; income; incometaxes; middleclass; sanctions; tariffs; taxcutsandjobsact; taxreform; tcja; trade; trump; trumpeconomy
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The monthly rise in incomes under Bush was $4. That number was $11 under Obama and $161 under Trump.

Middle-class incomes, after adjusting for inflation, have surged by $5,003 since Donald Trump became president in January 2017.

During the 8 years of 0bama, incomes inched up by $1,043 and George W. Bush median income was up just $401.


1 posted on 10/17/2019 2:31:23 PM PDT by Brown Deer
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To: Brown Deer

BTTT


2 posted on 10/17/2019 2:41:38 PM PDT by Chgogal (Trump: Make America Great Again. Democrat: Make America Mexico Again.)
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To: Brown Deer
Thanks to President Trump Tax laws I was able to pay off my 30 year mortgage at 16 years by taking money from my 401k without a huge tax liability!!!!!!.... 😍
3 posted on 10/17/2019 2:49:26 PM PDT by Red Badger (Against stupidity the gods themselves contend in vain...................)
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To: Red Badger

It’s urgent. We must impeach. The working class is getting uppity.


4 posted on 10/17/2019 2:55:48 PM PDT by Eleutheria5 (If you are not prepared to use force to defend civilization, then be prepared to accept barbarism.)
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To: Eleutheria5

That’s exactly it. I’ve never seem a party (let’s be honest: uni-party) so hell-bent on destroying the middle class. We should be serfs by now but that just wasn’t in this president’s cards!


5 posted on 10/17/2019 3:08:26 PM PDT by Retrofitted
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To: Chgogal

This is AWESOME NEWS !

Our taxes have gone up like everyone else I know and we are poorer than we used to be like everyone else I know but AWESOME!

It is VERY OBVIOUS TO ME that the middle class in this country is doing better and better, even if it hasn’t really affected us or anyone else we know yet.

MAGA! One day we will make restaurants a part of our lifestyle again because TRUMP IS AWESOME!


6 posted on 10/17/2019 3:33:39 PM PDT by golux
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To: Red Badger

How, specifically? Are you 59-1/2 or was there some tax code change wrt 401k?


7 posted on 10/17/2019 4:03:19 PM PDT by vmpolesov
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To: Retrofitted

“That’s exactly it. I’ve never seem a party (let’s be honest: uni-party) so hell-bent on destroying the middle class. We should be serfs by now but that just wasn’t in this president’s cards!”

From Marx:

The proletariat will use its political supremacy to wrest, by degrees, all capital from the bourgeoisie [the middle class], to centralize all instruments of production in the hands of the State, i.e., ... the ruling class….”

From Lenin:

“[W]hoever conceives of the transition to Socialism without the suppression of the bourgeoisie (middle class) is not a Socialist…. [I]t is essential to suppress the bourgeoisie (middle class) as a class.”

The destruction of the middle class is an age-old goal of socialist/communists, and now democrats.

An economically-independent, armed, wealthy, free-thinking, entrepreneurial middle class, is the democrats WORSE NIGHTMARE.

Everything they SAY is “for the middle-class” everything they DO is against it.


8 posted on 10/17/2019 4:42:40 PM PDT by JPJones (More Tariffs, less income tax.)
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To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; cardinal4; ColdOne; ...
Thanks tomkat.

NY Times: Trump Is Crude. But He’s Right About Saudi Arabia. | NYTimes | Michael Doran and Tony Badran | Posted on 11/22/2018 9:12:40 AM PST by RoosterRedux | 12 posted on 11/22/2018 9:32:23 AM PST by tomkat

9 posted on 10/17/2019 5:25:48 PM PDT by SunkenCiv (Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
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To: SunkenCiv

may I be the first. Winning!


10 posted on 10/17/2019 5:30:19 PM PDT by morphing libertarian ( Use Comey's Report, Indict Hillary now; build Kate's wall. --- Proud Smelly Walmart Deplorable)
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To: Retrofitted

The fiend!


11 posted on 10/17/2019 11:14:42 PM PDT by Eleutheria5 (If you are not prepared to use force to defend civilization, then be prepared to accept barbarism.)
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To: vmpolesov

They lowered the tax rate, my bracket became 12%:

https://www.bankrate.com/finance/taxes/tax-brackets.aspx

And I was able to just barely squeeze in the top end. Had the tax rates not changed, was 22%, I would have left the money in the 401K............................


12 posted on 10/18/2019 6:10:52 AM PDT by Red Badger (Against stupidity the gods themselves contend in vain...................)
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To: vmpolesov

Plus I was 63 last year, so no penalty for taking the money out!................................


13 posted on 10/18/2019 6:12:23 AM PDT by Red Badger (Against stupidity the gods themselves contend in vain...................)
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To: Brown Deer

BOOKMARKED!!


14 posted on 10/18/2019 9:11:10 AM PDT by NetAddicted (Just looking)
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My line item deductions (1040) are still better than the new standard, but I found a new way to pay less taxes — make less $$$. In 2018, revenue was off by 20% but effectively >15% taking combined taxes into consideration.

Taxation is definitely a deterrent to productivity. No wonder the Democrat Thug Party embraces it.

/rant-off


15 posted on 10/18/2019 9:35:16 AM PDT by Gene Eric (Don't be a statist!)
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To: Red Badger

Awesome. Now you can reinvest the otherwise mtg payments to yourself instead of interest to someone else.

Interesting decision you made there


16 posted on 10/18/2019 9:40:47 AM PDT by Gene Eric (Don't be a statist!)
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To: Gene Eric

It was a squeker!............


17 posted on 10/18/2019 9:44:49 AM PDT by Red Badger (Against stupidity the gods themselves contend in vain...................)
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To: All

“This means that in the 16 years before the Trump presidency, incomes rose by about $1,500 while in less than three years middle incomes have risen three times faster.”

BAM !


18 posted on 10/18/2019 1:36:08 PM PDT by rbmillerjr
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To: golux

So your income went up.
And you are complaining?


19 posted on 10/19/2019 7:21:35 AM PDT by RWGinger (Does anyone else really)
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To: RWGinger

Same income. Under the new Trump tax laws people with high levels of itemized deductions get creamed.


20 posted on 10/20/2019 8:03:30 AM PDT by golux
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