Thursday, 28 April 2016

Whatever some candidates tell you, the incomes of most Americans have been rising (Robert Shapiro, Brookings)

Supporters of Democratic U.S. presidential candidate and U.S. Senator Bernie Sanders cheer as they await his arrival during his five state primary night rally held in Huntington, West Virginia, U.S., April 26, 2016. REUTERS/Marcus Constantino

After a decade when most Americans saw their incomes decline, the latest Census Bureau income data contain very good news: A majority of U.S. households racked up healthy income gains in 2013 and 2014. The facts may not fit the narratives of Donald Trump, Ted Cruz, or Bernie Sanders, but they do help explain why President Obama’s job approval and favorability ratings have finally passed the 50 percent mark. They also show that Hispanic households made more income progress in 2013 and 2014 than any other group, which may be one reason for their growing support for Democrats. A third surprise: households headed by Americans without high school diplomas racked up their first meaningful income gains since the 1990s, thanks to the large job gains in 2013 and 2014 and the Obamacare cash subsidies beginning in those years.

http://www.brookings.edu/blogs/fixgov/posts/2016/04/27-americans-income-rising-shapiro

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