Welcome home, fellow Gator.

The Gator Nation's oldest and most active insider community
Join today!

It's Official: You are better off now than you were under Trump

Discussion in 'Too Hot for Swamp Gas' started by citygator, Sep 17, 2024.

  1. citygator

    citygator VIP Member

    10,771
    2,422
    3,303
    Apr 3, 2007
    Charlotte
    Wages are now up more than prices since Biden came into office.

    Wages shot up in 2020 under Trump leading to inflation in 2021 making it look like it was a Biden administration issue and the public was happy to blame him. No longer though:

    It’s official: America’s real wages are up under Biden-Harris (thehill.com)

    With inflation easing, the wages of working-class Americans are finally moving into the plus column. Average hourly pay for production and nonsupervisory workers — who make up four-fifths of employees — hit $30.27 in August, according to the latest report from the Bureau of Labor Statistics.

    According to my organization’s analysis, working-class Americans’ wages, adjusted for inflation, have just edged higher than they were on Election Day, 2020. The average working-class American can now answer “Yes” to the question, “Are you better off now than you were under Donald Trump?”

    That’s obviously important for political symbolism. But the milestone for real wages also explains a lot about why Americans have felt so badly oppressed by inflation up to now. The price of food and housing matters, but they matter more if price increases exceed wage gains.

    Part of the reason President Biden’s campaign was fighting an economic headwind was the drop in average real wages in 2021 and 2022 due to the burst of inflation. No wonder voters didn’t trust Biden on the economy, despite the low unemployment rate and strong GDP growth.
     
    • Disagree Bacon! Disagree Bacon! x 5
    • Informative Informative x 4
    • Like Like x 2
    • Funny Funny x 2
  2. AzCatFan

    AzCatFan GC Hall of Fame

    11,925
    1,108
    1,618
    Apr 9, 2007
    I finding it truly hilarious that people disagree with the figures that were posted. Figures don't lie, but liars figure. The numbers are the numbers, and real wages have been close to keeping up and/or surpassing inflation for a while now. And with current inflation at 2.5% and falling, it was only a matter of time before real wages began to rise again.
     
    • Agree Agree x 4
    • Disagree Bacon! Disagree Bacon! x 1
    • Winner Winner x 1
  3. obgator

    obgator GC Hall of Fame

    1,672
    1,303
    2,103
    Apr 3, 2007
    Kamalanomics baby!
    upload_2024-9-17_14-29-31.jpeg
     
    • Like Like x 2
    • Funny Funny x 2
  4. HeyItsMe

    HeyItsMe GC Hall of Fame

    1,607
    480
    2,008
    Mar 7, 2009
    Trump inherited a booming Obama economy, took credit for it, and then proceeded to drive it into the ground. Those increases in taxes you’re seeing now? All Trump and his crappy tax policy he passed, but don’t tell MAGA that. Business genius, baby!
     
    • Winner Winner x 5
  5. channingcrowderhungry

    channingcrowderhungry Premium Member

    8,678
    1,927
    3,013
    Apr 3, 2007
    Bottom of a pint glass
    I'm better off but I give credit to myself.
     
    • Agree Agree x 4
    • Funny Funny x 2
    • Winner Winner x 2
  6. tampajack1

    tampajack1 Premium Member

    9,440
    1,603
    2,453
    Apr 3, 2007
    Come on man! You know that Trump doesn’t read.
     
    • Funny Funny x 4
    • Agree Agree x 1
  7. RIP

    RIP I like touchdowns Premium Member

    6,784
    1,937
    3,313
    Feb 2, 2015
    It's night and day for me. My income damn near doubled under Biden, but he likely had nothing to do with it. We got a huge influx of work during COVID due to people using more bandwidth than ever. It's starting to come down now unfortunately.
     
  8. obgator

    obgator GC Hall of Fame

    1,672
    1,303
    2,103
    Apr 3, 2007
    He’s hiding a Playboy.
     
  9. AndyGator

    AndyGator VIP Member

    3,562
    348
    338
    Apr 10, 2007
    Anyone that owns stock is a shitload better
     
    • Agree Agree x 5
  10. obgator

    obgator GC Hall of Fame

    1,672
    1,303
    2,103
    Apr 3, 2007
    Unless you own a shitload of DJT.
     
    • Funny Funny x 8
  11. sierragator

    sierragator GC Hall of Fame

    15,140
    13,182
    1,853
    Apr 8, 2007
    The meme should have him holding the book upside down
     
    • Agree Agree x 1
    • Funny Funny x 1
  12. tampajack1

    tampajack1 Premium Member

    9,440
    1,603
    2,453
    Apr 3, 2007
    Been there.
     
    • Fistbump/Thanks! Fistbump/Thanks! x 1
  13. tampajack1

    tampajack1 Premium Member

    9,440
    1,603
    2,453
    Apr 3, 2007
    Excellent point.
     
  14. ursidman

    ursidman VIP Member

    13,804
    22,547
    3,348
    Sep 27, 2007
    Bug Tussle NC
    I’m way better off now than under trump.
    For this reason mostly. But i too credit @channingcrowderhungry
     
    • Funny Funny x 3
    • Like Like x 1
    • Fistbump/Thanks! Fistbump/Thanks! x 1
  15. bogeyfred

    bogeyfred VIP Member

    95
    25
    1,718
    Apr 3, 2007
    Daytona
    So when will we getting all the money back we lost over the last 3 years
    Due to inflation ?
     
    • Come On Man Come On Man x 1
    • Best Post Ever Best Post Ever x 1
  16. gator_jo

    gator_jo GC Legend

    735
    138
    163
    Aug 9, 2024
    You've already gotten it back in wage growth and stock market growth. Thanks, Biden!

    Also, you've done WAY better, comparatively, than if you were in any other industrialized nation during the expected period of post-covid inflation. Thanks again, Joe!
     
    • Fistbump/Thanks! Fistbump/Thanks! x 3
    • Agree Agree x 2
    • Funny Funny x 2
  17. sierragator

    sierragator GC Hall of Fame

    15,140
    13,182
    1,853
    Apr 8, 2007
    or China will send him a check, right after they send the USA a check for the tariffs like the orange god said they would. :rolleyes:
     
    • Funny Funny x 1
  18. citygator

    citygator VIP Member

    10,771
    2,422
    3,303
    Apr 3, 2007
    Charlotte
    If Trump gets elected he’ll tweet you crypto from the toilet.

    IMG_2215%20(wecompress.com).jpeg
     
    • Funny Funny x 2
    • Winner Winner x 1
  19. AgingGator

    AgingGator GC Hall of Fame

    3,626
    773
    2,088
    Apr 24, 2007
    Will some of you democrat geniuses please explain how people are better off?

    Prices have been going up for four years now and inflation is still running much higher than the target rate as a percentage. The largest of the price increases was from late 2021 to mid 2023. The latest round of wage increases has finally caught up/mildly surpassed the 21-24 inflation, and you want to say people are better off? Even assuming from here forward that prices and wages stay in equilibrium(which they currently are not), how do people recoup all the buying power that was lost from 2021 through 3Q 2024?
     
    • Winner Winner x 2
    • Agree Agree x 1
  20. AzCatFan

    AzCatFan GC Hall of Fame

    11,925
    1,108
    1,618
    Apr 9, 2007
    While prices have been going up, so have wages. And the numbers for August was 2.5% inflation and 4 3% wage increase on average. Things are more pricey, but the average person has more income to make up for it.

    There have been indications of this happening. For example, several record travel days this summer. People, in general, don't travel during the holidays unless they can afford it.

    The numbers don't lie. Wages, on average, have grown faster than inflation.
     
    • Fistbump/Thanks! Fistbump/Thanks! x 1