On Tuesday, Stephen Moore posted an article at The New York Post comparing the Trump economy and the Biden economy.

The article includes the following graph:

The article reports:

In other words, the middle class mostly treaded water in the Biden years, but enjoyed an income surge through most of Trump’s term.

The Census Bureau also collects data on the income cut-off for households in the bottom 25% of the income spectrum — that is, the income level a household would have to reach to move out of the bottom 25%.

The article also notes:

The article concludes:

Not even Biden’s large cash welfare benefits could reverse the silent-killer effect of inflation’s 22% cumulative price hikes in gas, groceries and rents from 2021 to 2024.

Second, Trump’s 2017 tax policies — which were and still are ridiculed as “tax cuts for the rich” — actually benefited all income groups by increasing jobs and boosting the overall economy.

The share of the income-tax burden paid by the richest Americans actually rose after the president’s tax cuts kicked in. 

Now that Congress has extended those lower tax rates, we may see a similar across-the-board rise in everyone’s income over the next three years.

I am looking forward to the Trump economy.