More Than a Million Households Rise Out of Poverty to Middle Class Status under President Trump
S E E D E D C O N T E N T
President Trump’s economic policies have created a rising tide that is lifting all boats. Even the poorest of the poor have hope thanks to our revitalized economy. The latest numbers show more than a million households across the United States have risen out of poverty during President Trump’s time in office.
It is clear President Trump’s policies are making a positive impact on the average person’s quality of life. The question is whether Americans will do the sensible thing by re-electing President Trump in 2020.
The robust economy has decreased poverty to the lowest level since 2001. President Trump should be directly credited with getting Americans back to work. However, merely putting people to work is not cause for celebration in and of itself. What matters most is the fact that a million American households have climbed out of poverty to reach the middle class since President Trump was elected.
The dramatic reduction in poverty is the direct result of more Americans working jobs that pay a living wage. The icing on the cake is the fact that Americans’ middle-class income is also moving higher thanks to the economic boom.
If you pay close attention to the news, you have likely heard several talking heads discussing the idea of “worrying” our nation into a recession. There is such widespread consternation about keeping America’s economic engine humming along that we just might psyche ourselves into thinking the economy is poised for a decline. However, when you look at the numbers, it is clear the United States economy is firing on all cylinders.
The nation’s median income, or the dollar amount that half of United States families earn more or less than, stands at $63,000. This is the first time the country’s median income broke through the $63,000 level. Current economic data shows incomes are spiking especially high in large cities.
Though poverty has slightly increased for adults over the age of 25 who do not have a high school diploma, just about every other age cohort and demographic has benefited from the economic boom.
President Trump has every right to tout the fact that the country’s poverty rate decreased to under 12% last year. The current poverty rate is 11.8%, or slightly more than 38 million people. This is the lowest percentage of Americans living in poverty since 2001 when 11.7% of the population lived in poverty.
In other words, President Trump’s economic policies are doing a fabulous job of stimulating the economy for all Americans rather than just the owners of industry and those in the upper class as Democrats claim.
It is especially important to note American businesses have been hiring low-skilled employees and minority workers at particularly high rates. These job gains are important as they are providing economic opportunities to millions of Americans who did not have meaningful opportunities in the past. As is often said, the quickest and best way out of poverty is a job.
It is important to point out the current poverty rate for adults with a full-time position held year-round is a mere 2.3%. This percentage is significantly lower than the rate of poverty for those who do not have a job. The unemployed currently have a poverty rate of just under 30%.
The bottom line is there is no reason to hand people a universal basic income, food stamps or any other form of economic assistance when they are perfectly capable of contributing through labor. At this point, those who do not have a job are either incapable of working or simply refuse to work.
Economists insist the reduction in the poverty rate for adults is partially attributable to the fact that plenty of people have shifted from part-time employment to full-time employment, spiking their income by a considerable margin. The United States census reports in 2018 alone, in excess of two million people secured full-time work.
The increase in the number of hours worked increases income, reduces crime and dramatically heightens quality of life. It might not be long until the vast majority of working-age, able-bodied Americans are employed full-time throughout the entirety of the year.
Thanks to President Trump, our economy has the momentum necessary to carry us through potential troughs in the business cycle and continue to make America great again.
Tags
Who is online
74 visitors
The secondary comparisons are just as telling. In 2016, there were 2 million long-term unemployed, today that figure is 1.2 million. In 2016, there were 6.1 million Americans with part-time employment for economic reasons, today, it’s 4.4 million.
While the economics are good for Trump, the politics could be even better in specific demographic groups.
According to 2016 exit polling, women were 53 percent of voters. Women broke 54 percent for Clinton, with Trump winning just 41 percent. In August 2016, women’s unemployment rate was 4.5 percent, today it is 3.3 percent.
In 2016, black voters were 12 percent of the electorate and went 89 percent for Clinton and just 8 percent for Trump. In August 2016, their unemployment rate was 8.1 percent, today it is 5.5 percent.
In 2016, Hispanics voters were 11 percent of the electorate and went 66 percent for Clinton and 28 percent for Trump. In August 2016, their unemployment rate was 5.6 percent, today it is 4.2 percent.
Democrats depend heavily on these important voting blocs. In each, their improved unemployment situation outpaces that of the general population, which is already remarkably improved.
If Trump’s enhanced economy is already likely to be an important consideration for the general electorate, imagine what its magnification could mean in groups on which Democrats rely so much. In America’s zero-sum two-party system, it would not take large swings in such key groups to yield big political impacts — and even with Democrats winning large 2016 margins within them, they still lost the presidency.
Finally, Democrats risk further compounding Trump’s economic advantage by nominating a candidate who either professes, or is perceived, to espouse a fundamental break from America’s historically free-market economic system. Not only would Democrats have to fight on comparisons of unfavorable economic performance, but a divergent philosophy as well.
However, when you look at the numbers, it is clear the United States economy is firing on all cylinders.
The nation’s median income, or the dollar amount that half of United States families earn more or less than, stands at $63,000. This is the first time the country’s median income broke through the $63,000 level. Current economic data shows incomes are spiking especially high in large cities.
Though poverty has slightly increased for adults over the age of 25 who do not have a high school diploma, just about every other age cohort and demographic has benefited from the economic boom.
President Trump has every right to tout the fact that the country’s poverty rate decreased to under 12% last year. The current poverty rate is 11.8%, or slightly more than 38 million people. This is the lowest percentage of Americans living in poverty since 2001 when 11.7% of the population lived in poverty.
In other words, President Trump’s economic policies are doing a fabulous job of stimulating the economy for all Americans rather than just the owners of industry and those in the upper class as Democrats claim.
It is especially important to note American businesses have been hiring low-skilled employees and minority workers at particularly high rates. These job gains are important as they are providing economic opportunities to millions of Americans who did not have meaningful opportunities in the past. As is often said, the quickest and best way out of poverty is a job.
America loves Trump for our strong booming lifting all boats economy.
What you mean to say is that a noticeable minority of Americans make excuses for a liar crook bigot and moron.
We find it sad that big city far left elites hate us so much that they are both in denial of our success during Trumps term and eager to enact policies with the intent of taking it all away from us yet again.
With all due respect I take issue with the 'premise' of this-------------seeded thing.
I do not believe it to be accurate.
Supply Side Economics is more in play now than ever. Therefore, this article is either an oxymoron or a satire exclusively placed to protect the upper one half of the one percent on the Economic Scale.
Except that unlike during the so called Obama “recovery” it really was only the top 1-3% that really benefited. Now we all are benefiting and the bi coastal progressive elites are angry and don’t want to share prosperity with us deplorable rubes and want to take it all away from the Heartland.
Like I said. SSE still lives. The stake through it's unworthy heart has yet to be driven.
Blame Obama---whatever. Don't matter. IT still lives.
Supply side economics is the best. It will live forever. It is the source of wealth creation and the elimination of poverty. There is no better economic strategy to achieve the most prosperity for the largest number of people than supply side economics. If they take supply side economics away, us who are both working and investors will simply stop investing in any demand side scheme. Our money will go to the sidelines or off shore to where supply side is still being practiced.