ECON 101

Joe Biden had a rally recently. He posed the question to his audience, “We had a $2 trillion tax cut last year. Did you feel it?”

The crowd screamed overwhelmingly, “NO!”

Joe responded, “Of course not. Of course not. All of it went to the folks at the top.”

Even that bastion of liberal journalism, the Washington Post felt it necessary to respond to Joe’s comment. They printed the following. “82% of people making $50 – 75K received tax cuts AVERAGING nearly $1000.” Overall unemployment is at a 50 year low at 3.6%. Black and Hispanic unemployment are at the lowest point ever recorded since the federal gummamint started tracking unemployment by race and ethnicity in 1948.

Wage increases in the last two years have been 25% higher for production workers than for their supervisors. Compare this to the last 5 years of Obama’s administration when supervisors received wage increases 40% greater than their workers. The economy added 263K workers in the past month. Liberals like to say that the soaring stock market has no benefits for the average people. That might be true except that anyone with a 401K or a pension plan is benefiting greatly from the stock market growth.

I have to wonder about Joe’s supporters. Not one of them received a tax cut. What does that tell you about his supporters?

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