Discussion · Kakapo Social

The pain is acute because price increases are outpacing wage gains for most American households, especially those with lower incomes. The gap between wage growth for the most affluent & least affluent households has been larger this year than at any time in the past decade, according to Bank of America Institute, which uses proprietary data from the bank’s enormous customer base.

#Trump #economy #inflation #affordability #CostOfLiving #recession #trumpcession #WealthGap #idiocracy #kakistocracy

Graph For most Americans, wages aren't keeping up with prices Annual after-tax wage growth compared with inflation

Nonilex

@Nonilex@masto.ai replied · 2 days ago

#Trump also has been rolling back #FederalPrograms that help households make ends meet. His signature domestic policy law, passed in July, will reduce access to #Medicaid & #FoodStamps. Because of Trump’s opposition to an extension of #HealthInsurance subsidies, millions of Americans will soon face sharply higher premiums.

#economy #inflation #affordability #CostOfLiving #recession #trumpcession #WealthGap #idiocracy #kakistocracy

Nonilex

@Nonilex@masto.ai replied · 2 days ago

Earlier this year, #Trump blithely suggested that Americans could cope with the impact of #tariffs by purchasing fewer toys for their children. “Well, maybe the children will have 2 dolls instead of 30 dolls, you know? And maybe the 2 dolls will cost a couple of bucks more than they would normally.”

#economy #inflation #affordability #CostOfLiving #recession #trumpcession #WealthGap #idiocracy #kakistocracy

Nonilex

@Nonilex@masto.ai replied · 2 days ago

More recently, after an impressive set of victories by Democratic candidates running on #affordability issues, including #ZohranMamdani’s campaign in NYC, #Trump has taken to insisting that #prices aren’t rising [lying]. “Every price is down,” Trump claimed 2 days after the election this month. The White House put out a news release a few days later declaring that “inflation has been tamed” (it hasn’t) & that “everyday prices are beginning to drop” (they also have not).

#FactCheck #TrumpLies