And when Trump addressed Congress last week, he rattled off a long list of economic gains that resulted from his break from Obama’s “middle-class economics.” It turns out that cutting taxes and regulations, not more government spending, is what the middle class needs.
Included in Trump’s list was the fact that the wealth of the bottom half of American households increased three times as fast as the “1%.”
“That’s true, according to Federal Reserve data,” said Reuters. “On average, Americans have seen a 17% jump in household wealth since Trump’s election, while wealth at the bottom half has increased 54%.” The top 1% has seen a gain of 13%.
Democrats have been complaining about increases in income inequality for years. How do they explain the fact that it’s declining under Trump?