Cato:
The U.S. economy continues to do well, but many fear that economic expansion only benefits a few Americans, while leaving most households behind. As political analyst Juan Williams opined in The Hill earlier this year, “The rich got their Trump tax cut. GDP looks good. And the stock market is doing great for people with money to invest. But it is only the rich who get the big rewards in Trump’s economy. What about the middle class?”
The middle class, it turns out, is shrinking. But not because they are falling into poverty, as some might have you believe. Rather, it is shrinking because more people are “moving on up,” ascending into a higher income bracket — and living the American dream.
Since 2016, the United States has had more wealthy households than middle-class households and the share of low-income households has reached a historic low. read more
It’s all relative, you are making more but the buying power of the dollar is dwindling. What benefits gained by the federal income tax reduction has been eaten up by permits, licenses, insurance, co-pays, property tax, sales tax and the public school systems.
Too bad Big Mke’s ass isn’t shrinking.
Juan Williams brain is!
The stock market is doing great for people with money to invest? Just where does he think most retirement accounts are invested?
@cato ~ don’t forget the (unconstitutional)Fed holding growth down
Speaking of big mike, MJA, she’s featured on the Bing pic of the day!