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Politics : Formerly About Advanced Micro Devices

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To: pocotrader who wrote (1340975)	2/3/2022 5:36:40 PM
From: Sdgla	Read Replies (1) of 1581923

Greatest economic POTUS in history. Of course it’s alway comforting to hear from the tough talking mental midget poquito mas. You reinforce Trumps successes with your idiotic feckless posts. Under Trump, Americans Have Seen Their Best Wage Growth In 40 Years Many on the left refuse to admit President Trump’s populist policies have provided massive benefits to working-class Americans. Matthew Yglesias argued at Vox that Trump’s refusal to endorse a federal $15 per hour minimum wage proves Trump has abandoned populist ideals. Progressives claim the Trump economy helps billionaires, not workers, and snidely dismiss his outreach to minorities. Yet, during the first three years of the Trump presidency, wage growth was off the charts, especially for low-income workers and African Americans. The third-quarter economic data released Thursday confirm once again that Trump is on the job for U.S. workers. The Biden campaign has tried to tie COVID-linked economic devastation to Trump’s leadership. The new third-quarter economic data once again shows that’s wrong. The total number of U.S. wage earners increased more than 5 percent in that period, and the third-quarter rebound for African Americans occurred at a 17 percent faster rate than for wage earners as a whole. Trump campaigned on exiting the China-centric Trans-Pacific Partnership and renegotiating North American Free Trade Agreement (NAFTA). Trump claimed his tax and trade policies would benefit American workers. Even though evidence shows they are highly effective, Trump’s economic ideas have consistently underwhelmed pundits. Democrats hated his tax cuts. Liberals predicted a worldwide economic crisis if he was elected in 2016 and scoffed at Trump’s “middle class miracle.” Leading up to the 2016 election, economists including eight Nobel laureates derided his economic ignorance and called his proposals “magical thinking.” Yet the economic results have validated Trump’s economic leadership. He used tariffs as a bullwhip to punish predatory, job-killing trade practices. The United States-Mexico-Canada Agreement (USMCA) sprang from the ashes of NAFTA. Tax cuts for workers and corporations accompanied massive deregulation and a robust energy policy. Prior to COVID lockdowns, despite Democrat opposition to all things Trump, the economy was adding millions of jobs and wages were soaring. This Is Trump’s Doing, Not Obama’s In rare moments when liberals admit a few not-so-terrible things have happened during Trump’s presidency, they credit Trump’s success to the “continuation of a trend” President Barack Obama began. Perhaps Trump did achieve the lowest African American unemployment figures in history, they say, but he was the beneficiary of Obama’s legacy, when most of the economic hope and change really happened. Nothing could be further from the truth. Over the past 40 years, the inflation-adjusted growth trend for the U.S. median weekly wage has been $4.05 per quarter. During the first three years of the Trump administration, it was a staggering $6.90 per quarter.* During the Obama years, median wages grew at the anemic rate of $3.20 per quarter. But what if we cherry pick the last (best) three years of the Obama era? We see growth of $5.08, more than a dollar higher than the historic trend. But that is the lone bright pixel in an otherwise dreary picture. And Trump has bested that by a mile. The story grows quite interesting when we focus on wage earners in lower brackets. According to data from the U.S. Bureau of Labor Statistics, the 20-year growth trend for the 10th percentile weekly wage was $2.03 per quarter. For Trump’s first three years, wage growth was $4.95. What about in the Obama era? Even cherry picking Obama’s last three years and ignoring the 2009 recession leaves us with growth of $1.68 per quarter, well below both the historic trend and Trump’s. Table 1 shows striking wage growth under Trump, a reversal of prior patterns, not a continuation, especially in the lowest wage brackets.

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