It must be frustrating for President Biden to try to convince Americans that they are doing better than they feel they are doing. After all, the stock market is doing well, there is strong job growth and it’s easy to get a raise. But people are really obsessed about inflation and nothing Democrats say is going to change their minds.
In the fiscal cliff deal, congressional Republicans and Democrats agreed not to raise taxes on all Americans earning under $400,000 a year – in other words, everyone gets a tax cut except the top 0.5% of income earners. Even if you are an unmarried couple earning $800,000 a year, you qualify for a so-called “middle class tax cut.” In what country could someone earning that kind of money he considered middle-class? Only in the United States in the year 2013. Everybody is middle-class, from the homeless to the middle classy. As for those who earn over $800,000 a year as an unmarried couple or $400,000 as an individual, well, hell, we never see them anyway.
The country is broke! Now it’s time for everyone, rich and poor, to roll up their sleeves (if they have any) and pitch in.
During the economic collapse of 2005-09, the median wealth of Hispanics fell 66%, of blacks 53%, and whites 16%.
The Obama Administration thinks it accomplished a lot, but that we weren’t paying attention. Actually, they were the ones not paying attention.
