The “are you better off now” test runs into the hard reality that most people are not better off. Poll after poll shows that, but it also shows that there is a persistent minority who insist that they are.
Democrats and their media claim that it’s because working-class people are doing better and that it’s the rich who are suffering, the Gallup survey shows that’s a lie.
35% of Americans say they are better off now than they were a year ago, while 50% are worse off. Since Gallup first asked this question in 1976, it has been rare for half or more of Americans to say they are worse off. The only other times this occurred was during the Great Recession era in 2008 and 2009.
Let’s take a closer look at that 35%.
Most lower-income Americans, 61%, say their financial situation has deteriorated over the past year, while less than half that number, 26%, indicate it has improved.
Among middle-income people, 37% say that they’re better off and 49% say that they’re worse off. Among upper-income people, it’s nearly a split with 39% saying that they’re better off and 43% saying that they’re worse off.
Obviously, Democrats are much more likely to say that they’re doing better than Republicans.
Republicans (61%) than Democrats (37%) say they are worse off. In fact, more Democrats (47%) say they are better off than worse off.
But I’m still baffled by the “better off” part.
The people saying that they’re better off are wealthier and more insulated, but even if they’re not sweating the price of groceries (and with the upper-income tier starting at $100K, it’s not golden wings), the stock market is challenging, and 401Ks have taken a sizable hit. Some people might have switched to higher-paying jobs in a briefly tight labor market, but apart from that small group, how is anyone better off unless they’re working as an environmental or diversity consultant?
One thing is clear though, the Biden economy that he’s boasting so much about hurts the poor and helps his wealthy donor base. This administration is not the champion of the working class, but its destroyer.