mozz OP Admin , (edited )
mozz avatar

That's real wages (inflation adjusted dollars). I.e. Wages at the bottom end have outpaced inflation by 12.1%. That's why I quoted that sentence in my message...

To get current dollars you would do 1.121 * 1.18 - 1 = 32% growth in current-dollar wages (where 1.121 comes from 12.1% cumulative constant-dollar wage gain, and 1.18 comes from 18% cumulative inflation). I saw 35% somewhere else instead of 32%; like I said there are small differences, but that overall broad picture is the same from all sources I've seen.

So, you're not clear on the difference between current dollar wages and constant dollar wages, but you're lecturing me on what is the real economic picture is that I'm not understanding? Okay, so tell me. What are you saying is happening? Have I understood you correctly that you claim current dollar wages have risen by only 12%?

And yes, lower income people in this country are still fucked. If anything I was saying made it sound like I thought they were not, that was not the intent. My point was that Biden has been helping them get out of it, to a certain degree, in a way that's actually very unusual for an American president (they generally don't give a shit about the working class). And that happened even during a historic level of economic challenge to tackle his way out of. And therefore that attacking him by pretending that the opposite is happening is erroneous at best and openly dishonest at worst.

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