The Real Economy

The Trump economy is booming if you have a fat portfolio and some large corporation has just offered to buy back your stock at a premium. But what about the real economy for everybody else?

Consider: “In real terms, the weekly earnings of a typical working American fell $16.80, or 1.9 percent, during Donald Trump's first 18 months as president.” This is from an analysis by Robert J Shapiro in the Washington Post.

Let’s look at some real statistics from the real world.

Struggling in a strong economy

40% of American families struggled to meet a basic need last year—food, health care, housing or utilities—according to an Urban Institute survey of 7,600 adults (reported by AP's Sarah Skidmore Sell):

· 23% of households struggled to feed their family at some point during the year.

· 18% didn't seek care for a medical need because of the cost.

· 13% missed a utility payment.

· 10% didn't pay the full amount of their rent or mortgage or paid it late.

While only 4% of American workers earn minimum wage, about 30% earn near minimum wage.

Additionally, 52% of fast food workers are on some kind of public assistance.

A yearly wage at minimum wage is $15,080. At the $11 an hour starting wage at Walmart the annual salary is $22,880. Even at the oft-mentioned $15 an hour it is only $31,200.

A lot of Americans need a raise and they are not going to get with a Republican Congress. So spend that $60 a month extra that Denver Riggleman crows about in his TV ad wisely.

Voters say 2-to-1 the GOP’s new tax law benefits rich over middle class

That’s one result of a survey commissioned by the Republican National Committee which was completed on Sept. 2 by the GOP firm Public Opinion Strategies and obtained by Bloomberg News.

The result was fueled by self-identified independent voters who said by a 36-point margin that large corporations and rich Americans benefit more from the tax law.

Read more here, including why voters are right in their conclusions about the GOP tax law.

Louis Harpster