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The wealth held by the poorest half of American households increased three times as fast as the wealth held by the 1% under the Trump administration

bbhaag

Diamond Member
Jul 2, 2011
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I just read an article by Reuters verifying this claim made by President Trump. According to the article "On average, Americans have seen a 17% jump in household wealth since Trump’s election, while wealth at the bottom half has increased 54%.".
I find that pretty amazing. Of course because it is Reuters they try to drag this down but I thought it was pretty cool.

Anyway, here is the article. Feel free to read it and then proceed to rip me a new asshole for interpreting this the wrong way.
 
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Nov 25, 2013
32,083
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I just read an article by Reuters verifying this claim made by President Trump. According to the article "On average, Americans have seen a 17% jump in household wealth since Trump’s election, while wealth at the bottom half has increased 54%.".
I find that pretty amazing. Of course because it is Reuters they try to drag this down but I thought it was pretty cool.

Anyway, here is the article. Feel free to read it and then proceed to rip me a new asshole for interpreting this the wrong way.
"Even with a 54% increase in their household wealth under Trump, the poorest half of American households, around 64 million families, still have just 1.6% of household “net worth.”

Yay! Whoopee! It's party time.
 

alcoholbob

Diamond Member
May 24, 2005
6,177
273
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In late part of a business cycle, the wages at the bottom always rise faster than the top. It's because inflation causes people to look for new jobs or demand raises, and wages try to play "catch up" at the late stage of a cycle. It usually also precedes a major economic correction, so it's not necessarily a good sign of things to come.
 

esquared

Forum Director & Omnipotent Overlord
Forum Director
Oct 8, 2000
21,423
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Its cheeto taking credit where he had nothing to do with a lot of it. For the low income people, anyway.
States have been raising their minimum wages over time. Over several years starting in 2016. But the fat bastard will try to take credit for it. He has zip to do with states increasing minimum wage.

 

ch33zw1z

Lifer
Nov 4, 2004
31,944
10,732
146
Its cheeto taking credit where he had nothing to do with a lot of it. For the low income people, anyway.
States have been raising their minimum wages over time. Over several years starting in 2016. But the fat bastard will try to take credit for it. He has zip to do with states increasing minimum wage.

This. Which party fought this? Oh, that's right...
 

WelshBloke

Lifer
Jan 12, 2005
27,185
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"Even with a 54% increase in their household wealth under Trump, the poorest half of American households, around 64 million families, still have just 1.6% of household “net worth.”

Yay! Whoopee! It's party time.
It's also to do with housing costs, it's not like these poorer families have suddenly got and extra bunch of cash in the bank.
 
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ivwshane

Lifer
May 15, 2000
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If you don’t scratch the surface of claims made by trump to find out about the details of said claims, trumps looks like a top tier president. However once that surface is scratched you start seeing what looks like a boil.

Household income grew under trump.... because many states raised minimum wage. So trump nor republicans get any credit for that.

Welfare use has gone down... because trump and republicans have made it harder to qualify assistance.


The black unemployment rate has fallen...as has every demographic as they all have been doing since 2010.

Any claim he makes can probably be explained by factors that aren’t related to him.
 

TheVrolok

Lifer
Dec 11, 2000
23,396
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If you don’t scratch the surface of claims made by trump to find out about the details of said claims, trumps looks like a top tier president. However once that surface is scratched you start seeing what looks like a boil.

Household income grew under trump.... because many states raised minimum wage. So trump nor republicans get any credit for that.

Welfare use has gone down... because trump and republicans have made it harder to qualify assistance.


The black unemployment rate has fallen...as has every demographic as they all have been doing since 2010.

Any claim he makes can probably be explained by factors that aren’t related to him.
Exactly this. Trumpers rarely have any analytical ability, though, and prefer to take things superficially because of the cognitive ease.
 
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Greenman

Lifer
Oct 15, 1999
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"Even with a 54% increase in their household wealth under Trump, the poorest half of American households, around 64 million families, still have just 1.6% of household “net worth.”

Yay! Whoopee! It's party time.
Which is still 54% more than they used to have. 54% more than Obama managed. No matter how you cut it, it's good news. It's amusing to watch you fellows reject a clearly positive outcome because it isn't part of your socialist agenda.
 

ch33zw1z

Lifer
Nov 4, 2004
31,944
10,732
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Which is still 54% more than they used to have. 54% more than Obama managed. No matter how you cut it, it's good news. It's amusing to watch you fellows reject a clearly positive outcome because it isn't part of your socialist agenda.
Nobody "rejected" the outcome. It's certainly not due to republican policies. Wtf is wrong with you?
 

TheVrolok

Lifer
Dec 11, 2000
23,396
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Nobody "rejected" the outcome. It's certainly not due to republican policies. Wtf is wrong with you?
He doesn't read or look into things. He's very honest about that. That's what superficial things that are absurd underneath sound reasonable to him.
 
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Stryke1983

Member
Jan 1, 2016
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Which is still 54% more than they used to have. 54% more than Obama managed. No matter how you cut it, it's good news. It's amusing to watch you fellows reject a clearly positive outcome because it isn't part of your socialist agenda.
That increase in wealth is actually slightly below the normal average growth, despite that fact that Trump took over a booming economy. So if you really want to pin it on Trump you should be disappointed as it would indicate that he has actually depressed the ongoing growth of household wealth.

Secondly, even if you thought that we should be giving Trump credit for this statistic, what exactly has he done to cause it? The tax cuts had a negligible impact on the demographic you are highlighting and they are only temporary compared to the corporate tax cuts. Wage levels are increasing at the rates you would expect as unemployment continues to follow the trend under the Obama administration, so Trump hasn't boosted those. His drive for more tariffs has had a negative impact on the cost of living and businesses in general. The Republican administration has used recession countering techniques during a time of economic growth and yet somehow managed to not stimulate the economy beyond what it was already doing. That's the very definition of a colossal failure in economic policy. Yet you want us to give them credit.
 

Jhhnn

No Lifer
Nov 11, 1999
61,659
13,740
136
Which is still 54% more than they used to have. 54% more than Obama managed. No matter how you cut it, it's good news. It's amusing to watch you fellows reject a clearly positive outcome because it isn't part of your socialist agenda.
154% of jack shit is still jack shit. And, uhh, remember all the paper wealth in housing that went poof in 2008? It's not really about assets but about assets vs liabilities & cash flow to stay afloat.
 

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
101,313
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Which is still 54% more than they used to have. 54% more than Obama managed. No matter how you cut it, it's good news. It's amusing to watch you fellows reject a clearly positive outcome because it isn't part of your socialist agenda.
not really. for the similar period from the last 3 years of obama's terms (Q1 2014 - Q3 2016), the same measure increased by 56%.

net worth drops of the bottom half drops almost every Q4.

and yes I understand that you're saying that it's now at 100 and Obama only got the poors to 64 and 100 > 64.
 
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tweaker2

Lifer
Aug 5, 2000
11,839
3,069
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Must've been the tax cuts McConnell rammed through for the wealthy that did it. Or maybe the tariff wars Trump started. Could be the bottom half are doing "so well" because they simply love Trump so much. Maybe Trump's burning hate for Obama incentivized big business into giving their working class chumps a heaping helping serving of pay raises. Could be that Trump's racist war against brown immigrants gave the economy a boost, or his strange and suspicious attraction to Putin and those Russian oligarchs he got his financing from.

But most of all I'm pretty sure it's that Trump lies so much and with such blatant disregard for the truth that everybody simply gave up disbelieving his what 15,000+ and growing falsehoods and now believe anything and everything he says because if you don't he'll get you fired from your job.

So all you peasants out there get back to work making the rich so much richer even if you have to work for free because you'll get rewarded for it in the form of benefit take backs and tax increases that hit you hard but not the wealthy. Be thankful for the measly raises you get that doesn't keep up with inflation because it could be worse you know?
 
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Ajay

Diamond Member
Jan 8, 2001
8,173
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I just read an article by Reuters verifying this claim made by President Trump. According to the article "On average, Americans have seen a 17% jump in household wealth since Trump’s election, while wealth at the bottom half has increased 54%.".
I find that pretty amazing. Of course because it is Reuters they try to drag this down but I thought it was pretty cool.

Anyway, here is the article. Feel free to read it and then proceed to rip me a new asshole for interpreting this the wrong way.
Like any responsible news organization, Reuters actually augments this data point with appropriate context. So, your dragging down comment is a rejection of historical accuracy. No need to rear you a new arsehole when you fail accept the truth hole clothe, as doing so makes it appear that your head, is in fact, up your arse. Have a nice day.
 

Commodus

Diamond Member
Oct 9, 2004
8,132
5,179
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I just read an article by Reuters verifying this claim made by President Trump. According to the article "On average, Americans have seen a 17% jump in household wealth since Trump’s election, while wealth at the bottom half has increased 54%.".
I find that pretty amazing. Of course because it is Reuters they try to drag this down but I thought it was pretty cool.

Anyway, here is the article. Feel free to read it and then proceed to rip me a new asshole for interpreting this the wrong way.
They're not trying to "drag this down," they're presenting the full context that makes this much less exciting than it sounds.

One of Trump's many problems is that his lies sometimes require unpacking to explain. They sound accurate at first blush, but fall apart once you dig deeper. And unfortunately, it's harder to counter a false but superficially appealing 10-second soundbite (Trump's preferred approach) by asking people to be patient while you spend the next three minutes providing an in-depth retort.
 
Mar 11, 2004
20,852
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Top 1% got $5.3T more wealth under Trump. Bottom 50% of Americans got $0.6T more wealth, 440 times less per household. In a normal country, people would be ashamed of this, not bragging about it.
But but but that 0.6T was 54% more than they had before!!! They should be thankful for the shit splatter trickle down!

OP, you clearly realize your interpretation sucked as evidenced by the fact that you knew immediately that it didn't lineup with even the article you were citing. Gee, I wonder why you get ripped a new asshole when you do blatantly stupid shit like that? Frankly it sounds like you already ripped yourself a new asshole so you could stick your head up it.
 
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Jhhnn

No Lifer
Nov 11, 1999
61,659
13,740
136
not really. for the similar period from the last 3 years of obama's terms (Q1 2014 - Q3 2016), the same measure increased by 56%.

net worth drops of the bottom half drops almost every Q4.
Because they saved all year to buy Christmas presents for their kids. The difference in attitudes always amazes me. Poor people will give you the shirt off their back & Rich people will take it
 

senseamp

Lifer
Feb 5, 2006
34,802
4,700
126
I'll break it out further for the math impaired, there are 128M households in the US:
Top 1%: $5.3T/(1%*128M) = $4.4M/household
90-99%: $5.5T/(9%*128M) = $447K/household
50%-90%: $4.4T/(40%*128M) = $85K/household
0%-50%: $0.6T/(50%*128M) = $9.4K/household
Trickle down accomplished.
 

Moonbeam

Elite Member
Nov 24, 1999
66,721
3,530
126
As the Golden Trump toilet flushes American democracy down the drain, Trump supporters by the millions will be seen to climb on whatever toilet paper is still manages to float. The giant asshole raining shit down on them from the sky above is the rump of their orange God.

All praise the Mighty Trump!
 

zinfamous

No Lifer
Jul 12, 2006
104,932
19,618
136
Now that they're working 3 and 4 jobs, instead of the standard 2, that kinda makes sense.

Also helps to cook the "jobs" numbers, but let's not talk about that

oh, and also the GOP isn't supposed to like raising minimum wages. Apparently that is commie evil--but I guess now you guys like to wave the results around as if it's something you did? lol--fucking fascist pieces of shit.
 

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