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Household Incomes at Record High

DawnODay

DawnODay

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I'll admit it. I was a Trump skeptic, almost a "Never-Trumper," but I've been pleasantly surprised by his policies, especially those affecting the domestic economy. It's hard to argue with success.

Median household income has been steadily increasing under Trump, rising from $59,471 in January 2017 to $61,483 last month, according to Sentier Research, which tracks income on a monthly basis using census data.

This also means that household income is now higher than it's been in at least 50 years — after adjusting for inflation.

This is a sharp turnaround from the Obama years. Sentier data show that median household income was the same when President Obama left office as when he arrived. Under Obama, household incomes continued to fall steeply for two full years after the recession officially ended, and then took four years to make up that lost ground. Incomes then flatlined again, posting no overall gain between August 2015 and December 2016.

This is just another indication that the economy has notably strengthened under Trump. And polls show that the public's mood has brightened considerably as a result.

The latest IBD/TIPP Economic Optimism Index is 53.6. This index has been in positive territory (anything over 50 is optimistic) since Trump took office. The Quality of Life Index, meanwhile, hit a 14-year high in May and the Financial Stress Index is at an all-time low.​

Bad News For Dems: Household Income Hits All-Time High Under Trump … And He's Getting Credit For It, Investor's Business Daily (May 22, 2018).
 
1. Personal tax cuts go away soon.
2. Petrol price increases offset the cuts.
3. Inflation is rising; incomes are worth less.
4. Massive Tromp deficits will boost inflation more.
5. Just wait till the border wall is financed.
 
Ain't that the fucking truth. I'm sick of it. The price of everything is going up and it's very noticeable.


Hypoxia said:
1. Personal tax cuts go away soon.
2. Petrol price increases offset the cuts.
3. Inflation is rising; incomes are worth less.
4. Massive Tromp deficits will boost inflation more.
5. Just wait till the border wall is financed.
Click to expand...
 
And the Progressive whining index has never been this high, ever... all very good news for America, which is RAPIDLY becoming GREAT AGAIN!
 
coachdb18 said:
And the Progressive whining index has never been this high, ever... all very good news for America, which is RAPIDLY becoming GREAT AGAIN!
Click to expand...
OK so let me break it down into soundbytes since that's all you're capable of understanding:
Incomes are going up, costs of living are also going up, sometimes outpacing the rate at which incomes are rising. People are actually becoming worse off.

In the UK we are in a period of artificial economic stagnation due to that exact logic. The actual spending power of the earnings everybody slightly above the median gains have been consistently being reduced every year for over a decade (Source is the public national bank, Bank of England BTW) because even though incomes are rising it is not enough or fast enough to outpace inflation or rising living costs. I say its artificial because prior to the last decade, there were only two separate years in the past ~250 where peoples incomes declined and the most recent one was after the Great Depression, and it only constituted about a third of the average annual decline now.

Neoliberal policies have handed corporate interests control of our governments, corporations want to pay their staff as little as possible but know they can't win class action lawsuits from their impoverished staff, so they have the government kill any internal movements to keep wages, at the very least, tied to inflation and let the actual value of those wages naturally decline without facing the wrath of cutting people's pay.
 
DoD's been a worthless 'rump sucker from day one. None of this 'skeptic' shit, OK?
 
Last edited:
Hypoxia said:
1. Personal tax cuts go away soon.
2. Petrol price increases offset the cuts.
3. Inflation is rising; incomes are worth less.
4. Massive Tromp deficits will boost inflation more.
5. Just wait till the border wall is financed.
Click to expand...

I like how those things only apply to Republicans.


When Democrats are doing it, it's "progress" LOL

What a degenerate partisan piece of shit.
 
Hypoxia said:
1. Personal tax cuts go away soon.
Click to expand...

Good point! Let's make the Trump-Ryan Tax Cuts permanent!!!

Hypoxia said:
2. Petrol price increases offset the cuts.
Click to expand...

Oil prices are going up because the growing economy is increasing demand. It's not a bad sign.

(Besides, I thought you on the left liked higher prices on gasoline to encourage greener consumer choices. For example, then Sen. Obama agreed in an NBC interview in 2008 that $4/gal. gas prices would "help us" by encouraging "a more efficient energy policy.")

Hypoxia said:
3. Inflation is rising; incomes are worth less.
Click to expand...

Read the article. The numbers were adjusted for inflation.

Hypoxia said:
4. Massive Tromp deficits will boost inflation more.
Click to expand...

But Pres. Obama doubling the debt, the actual number that affects the economy, was okay?

Besides:

DawnODay said:
Remember all this dire warnings about how reducing taxes would cause deficits?

Well...

The federal government took in a record tax haul in April en route to its biggest-ever monthly budget surplus, the Congressional Budget Office said, as a surging economy left Americans with more money in their paychecks — and this more to pay to Uncle Sam.

All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001.​

S. Dinan, April was best month in history for U.S. budget, according to CBO figures, Washington Times (May 7, 2018).

Lower taxes means a "surging economy." A "surging economy" means more tax revenues. More tax revenues means surpluses or lower deficits....
Click to expand...



Hypoxia said:
5. Just wait till the border wall is financed.
Click to expand...

Okay. What then?



To quote a friend of mine, you were just... "ruined"!
 
April always has high revenues. It's tax month.

One month does not negate the other 11 months of out of control deficit spending by people who claim to be fiscally conservative and whined so much about Obama's deficits.
 
Serious question for you, Dawn O'Dumb: exactly how is the "Tax Cut" Trump's policy?

Please describe for us exactly what input he had besides signing his name to a McConnell Ryan concoction and getting up and ranting like a baboon in front of an audience of baboons.

Please provide quotes.

DawnODay said:
I'll admit it. I was a Trump skeptic, almost a "Never-Trumper," but I've been pleasantly surprised by his policies, especially those affecting the domestic economy. It's hard to argue with success.

Median household income has been steadily increasing under Trump, rising from $59,471 in January 2017 to $61,483 last month, according to Sentier Research, which tracks income on a monthly basis using census data.

This also means that household income is now higher than it's been in at least 50 years — after adjusting for inflation.

This is a sharp turnaround from the Obama years. Sentier data show that median household income was the same when President Obama left office as when he arrived. Under Obama, household incomes continued to fall steeply for two full years after the recession officially ended, and then took four years to make up that lost ground. Incomes then flatlined again, posting no overall gain between August 2015 and December 2016.

This is just another indication that the economy has notably strengthened under Trump. And polls show that the public's mood has brightened considerably as a result.

The latest IBD/TIPP Economic Optimism Index is 53.6. This index has been in positive territory (anything over 50 is optimistic) since Trump took office. The Quality of Life Index, meanwhile, hit a 14-year high in May and the Financial Stress Index is at an all-time low.​

Bad News For Dems: Household Income Hits All-Time High Under Trump … And He's Getting Credit For It, Investor's Business Daily (May 22, 2018).
Click to expand...
 
Thankfully, the line is holding relatively steady.

saupload_median-household-income-in-21st-century-nominal-and-real-estimates-200101-to-201802.png
 
"Sentier Research, which tracks income on a monthly basis using census data."

So what happens when the census data is skewed because of the changes on the forms?
 
phrodeau said:
Thankfully, the line is holding relatively steady.

saupload_median-household-income-in-21st-century-nominal-and-real-estimates-200101-to-201802.png
Click to expand...

Based on that chart, incomes are $1,000 lower now than they were 18 years ago. When one considers how much inflation has risen during that same time, it's more than $1K people have lost.
 
someoneyouknow said:
Based on that chart, incomes are $1,000 lower now than they were 18 years ago. When one considers how much inflation has risen during that same time, it's more than $1K people have lost.
Click to expand...
The blue line is adjusted for inflation. The most recent figure is up to $61,483, according to the OP.

So we have held pretty steady, despite Tucker Carlson's claim that immigration causes wages to drop.
 
BotanyBoy said:
I like how those things only apply to Republicans.


When Democrats are doing it, it's "progress" LOL

What a degenerate partisan piece of shit.
Click to expand...

Democrats still hold fast to their drugs and daily talking points, to include the belief that working three jobs for 12 hrs/week each as Walmart greeter/at the McDonalds counter/cutting grass for the illegal alien landscaper is Obama-growth and ‘Progress’
 
DawnODay said:
I'll admit it. I was a Trump skeptic, almost a "Never-Trumper," but I've been pleasantly surprised by his policies, especially those affecting the domestic economy. It's hard to argue with success.

Median household income has been steadily increasing under Trump, rising from $59,471 in January 2017 to $61,483 last month, according to Sentier Research, which tracks income on a monthly basis using census data.

This also means that household income is now higher than it's been in at least 50 years — after adjusting for inflation.

This is a sharp turnaround from the Obama years. Sentier data show that median household income was the same when President Obama left office as when he arrived. Under Obama, household incomes continued to fall steeply for two full years after the recession officially ended, and then took four years to make up that lost ground. Incomes then flatlined again, posting no overall gain between August 2015 and December 2016.

This is just another indication that the economy has notably strengthened under Trump. And polls show that the public's mood has brightened considerably as a result.

The latest IBD/TIPP Economic Optimism Index is 53.6. This index has been in positive territory (anything over 50 is optimistic) since Trump took office. The Quality of Life Index, meanwhile, hit a 14-year high in May and the Financial Stress Index is at an all-time low.​

Bad News For Dems: Household Income Hits All-Time High Under Trump … And He's Getting Credit For It, Investor's Business Daily (May 22, 2018).
Click to expand...
You have become most wise Danielson. Miyagi very pleased.
 
Conservative assholes (redundant, I know) continue to spew Fox lies and propaganda like molten lava flowing from Kilauae.

The steaming hot pile of garbage includes the belief that Trump-growth and "progress" isn't anything but billionaires increasing their stock portfolio.

coachdb18 said:
Democrats still hold fast to their drugs and daily talking points, to include the belief that working three jobs for 12 hrs/week each as Walmart greeter/at the McDonalds counter/cutting grass for the illegal alien landscaper is Obama-growth and ‘Progress’
Click to expand...
 
Ha ha

Looks like Trumptards are getting screwed. Maybe they can use their extra "$1.40/week" (Paul Ryan, direct quote) to help out.

Here in NYC we ride the subway and take the train. Gas inflation doesn't hurt us much.

Gas prices soar on Memorial Day weekend. These places are hit hardest.

The sharpest price hikes have hit the Midwest. Over the past month, the average price per gallon of gas in Michigan has shot up 32 cents, more than any other state. Its statewide average recently hit $3.15, according to data from GasBuddy, a platform that tracks real-time prices at stations across the country.

North Dakota's gas is $2.96 on average, about 29 cents higher than a month ago. And Wisconsin's gas hit $2.94 per gallon, a 28 cent increase. Wyoming, Minnesota and Ohio round out the top six.
Click to expand...
 
phrodeau said:
"Sentier Research, which tracks income on a monthly basis using census data."

So what happens when the census data is skewed because of the changes on the forms?
Click to expand...

Also it does not account for people working 3 jobs and not filling out forms because they are too tired!
 
Carnal_Flower said:
Serious question for you, Dawn O'Dumb: exactly how is the "Tax Cut" Trump's policy?

Please describe for us exactly what input he had besides signing his name to a McConnell Ryan concoction and getting up and ranting like a baboon in front of an audience of baboons.

Please provide quotes.
Click to expand...

If you want to give all the credit to congressional Republicans, I'm fine with that. It seems more and more voters feel the same way.

"For the first time this election cycle, Republicans lead Democrats on the generic ballot, according to a new Reuters poll."​

M. McArdle, Reuters Poll: Republicans Lead Generic Ballot for First Time in 2018 Cycle, National Review (May 22, 2018).
 
Yeah, he really drained the swamp, didn't he?

So you can't explain how this has anything to do with Trump, noted. Mr. Outsider was going to come in and fix Washington. All he did was give McConnell/Ryan exactly what they've always wanted. Nothing new or different whatsoever.

Stop trying to palm the Trump lies off on us.

DawnODay said:
If you want to give all the credit to congressional Republicans, I'm fine with that. It seems more and more voters feel the same way.

"For the first time this election cycle, Republicans lead Democrats on the generic ballot, according to a new Reuters poll."​

M. McArdle, Reuters Poll: Republicans Lead Generic Ballot for First Time in 2018 Cycle, National Review (May 22, 2018).
Click to expand...
 
coachdb18 said:
And the Progressive whining index has never been this high, ever... all very good news for America, which is RAPIDLY becoming GREAT AGAIN!
Click to expand...

The progressives are one of the best things out there for Trump. Average people who aren't either loony liberal or way far right who weren't Trump supporters(as the OP says he was) are slowly coming over to his side and partly because they're unbiased enough to admit when something is improving.

But also that same group-including people I know who have always identified as democrats-are so sick and tired of the unending whining and bold faced lying of the progressives they're walking away from the left, or what now constitutes it.

For most of my life I've voted Dem-even for Obama in 2008- but wen the other way the last two elections for the reason I just cited.

I'm losing hope the Dems will ever rid themselves of the alt left progressive liberal babies and will keep helping the GOP roll along.
 
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