Dick Morris: US Sees Big Jump in Personal Income
Despite media reports that try to minimize our progress, household income in the United States has risen sharply since 2014.
Back then, inflation-adjusted median household income stood at $55,913. In 2018, it was $63,179.
This $7,266 increase amounts to a 13 percent hike in income over the past four years.
Liberal and Democratic contentions that the Trump economy only benefits the wealthy fall flat in the face of the data.
Put this increase in incomes into perspective.
In the past 20 years, since 1999, median household income (adjusted for inflation) has risen by only 2.7 percent.
So over 20 years, it has risen by less than three percent.
But in the past four years, it has risen by 13 percent!
A spectacular performance.
Trump’s policies are directly responsible for the increase:
– His tax cut has increased the money Americans have to spend and that corporations have to invest in growth.
– He has sliced Chinese imports to the U.S. by at least 10 percent since the tariffs started and negotiated good deals with South Korea, Japan, Canada, Mexico and the European Union.
– Up until the recent Yemeni/Iranian raid on Saudi oil production, Trump has been able to hold energy prices down by maximizing American production.
– His border enforcement policies are reducing the flow of cheap labor into our country and permitted a tighter labor market to force wages of low-income workers up.
– He has created more than six million jobs since he took office.
Democrats are interested in painting as bleak a picture as possible of the Trump economy, but the statistics tell another — very exciting — story.
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