{"id":347175,"date":"2018-02-07T14:16:28","date_gmt":"2018-02-07T13:16:28","guid":{"rendered":"https:\/\/rinf.com\/alt-news\/newswire\/the-wealth-is-not-trickling-down\/"},"modified":"2018-02-07T14:16:28","modified_gmt":"2018-02-07T13:16:28","slug":"the-wealth-is-not-trickling-down","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/the-wealth-is-not-trickling-down\/","title":{"rendered":"The Wealth Is Not Trickling Down"},"content":{"rendered":"<div>\n<p><span class=\"wf_caption\" style=\"display: block; max-width: 640px; width: 100%;\"><img decoding=\"async\" src=\"http:\/\/www.truth-out.org\/images\/Images_2018_02\/2018_0206econ_.jpg\" alt=\"President Donald Trump prepares to sign the Tax Cut and Reform Bill in the Oval Office at the White House in Washington, DC on December 22, 2017. (Photo: Brendan Smialowski \/ AFP \/ Getty Images)\" width=\"640\" style=\"width: 100%; margin: auto;\"\/><span style=\"text-align: left; margin-top: 3px; display: block;\">President Trump prepares to sign the Tax Cut and Reform Bill in the Oval Office at the White House in Washington, DC, on December 22, 2017. (Photo: Brendan Smialowski \/ AFP \/ Getty Images)<\/span><\/span><\/p>\n<p>If we are to believe President Trump, his presidency has resulted in a smashing economic turnaround for the nation. &#8220;There has never been a better time to start living the American dream,&#8221; the president said in his State of the Union address last week before echoing calls from Republicans to slash social safety nets.<\/p>\n<p><h3>Wages are not rising quickly with the economic tide, but the cost of living is.<\/h3>\n<\/p>\n<p>Trump&#8217;s speech\u00a0<a href=\"https:\/\/www.washingtonpost.com\/news\/wonk\/wp\/2018\/02\/02\/two-areas-where-trumps-economy-is-better-than-obamas\/?utm_term=.9be26e958bc7\" target=\"_blank\">prompted a debate<\/a>\u00a0among economists over whether lower unemployment rates and stronger markets are truly the result of Trump&#8217;s pro-business agenda and GOP tax cuts, or the long-term benefits of\u00a0<a href=\"http:\/\/www.truth-out.org\/opinion\/item\/43370-it-s-still-the-yellen-obama-economy\" target=\"_blank\">Obama-era policies<\/a>. The president was uncharacteristically silent about his ability to influence markets as the US stock market took a steep nosedive on Monday, according to<a href=\"https:\/\/www.reuters.com\/article\/us-usa-trump-markets\/as-u-s-stocks-plummet-trump-goes-silent-on-role-in-markets-idUSKBN1FP2TL\" target=\"_blank\"> reports.\u00a0<\/a><\/p>\n<p>Put the partisan conversation aside, however, and hard data reveals that a growing economy has not made &#8220;living the American dream&#8221; easier for everyone.<\/p>\n<p>For many working-class families &#8212; including the &#8220;forgotten men and women&#8221; Trump has claimed to champion &#8212; current indicators of economic growth have not translated into shared prosperity, according to a new <a href=\"http:\/\/scorecard.prosperitynow.org\/findings\" target=\"_blank\">report <\/a>from Prosperity Now, a group that tracks economic prosperity among lower-income Americans and communities of color.<\/p>\n<p>In short,\u00a0wages are not rising quickly with the economic tide, but the cost of living is.<\/p>\n<p>Unemployment rates have fallen below pre-recession levels in many parts of the country, but nearly one in four jobs pays below the federal poverty level, according to the report. The rate of low-wage employment has fallen only 2 percent since peaking at 25.6 percent in 2013.<\/p>\n<p><h3>Despite the apparent economic upturn, nearly 37 percent of households in the United States are considered &#8220;liquid asset poor.&#8221;<\/h3>\n<\/p>\n<p>Increases in average annual pay are not&#8230;<\/p>\n<\/div>\n<p><a href=\"http:\/\/www.truth-out.org\/news\/item\/43462-the-truth-about-the-trump-economy-the-wealth-is-not-trickling-down\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Trump prepares to sign the Tax Cut and Reform Bill in the Oval Office at the White House in Washington, DC, on December 22, 2017. (Photo: Brendan Smialowski \/ AFP \/ Getty Images) If we are to believe President Trump, his presidency has resulted in a smashing economic turnaround for the nation. &#8220;There has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-347175","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/347175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=347175"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/347175\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=347175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=347175"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=347175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}