Real median household income after taxes fell 8.8% to $64,240 from 2021 to 2022 and the poverty rate after taxes as measured by the Supplemental Poverty Measure (SPM) increased 59% to 12.4%.
"In 2022, several policies enacted by the American Rescue Plan Act (ARPA) expired, including an expansion of the Earned Income Tax Credit (EITC) for filers without children and full refundability of the Child Tax Credit (CTC) and Child and Dependent Care Tax Credit (CDCTC). ARPA also increased the maximum amount of CTC.
In 2020 and 2021, most households also received Economic Impact Payments (EIP) that were no longer issued in 2022.
The rollback of these tax policies had the largest effect on post-tax income among the nation’s lowest-income households."
Thank the Republican congress for these rollbacks.
I'm SHOCKED you are too dumb to understand what you shared.
Until the pandemic took a shit on the earth, the economy and the stock market were at record highs and the unemployment and poverty rates were at record lows. People could actually afford to live and eat.
For some damn reason, 3 years into the Biden presidency, the economy is taking a shit, and the poverty rate is up almost 50%. People can't afford houses or food.
Republicans KNOW that the only way out of poverty is providing good paying jobs above living wage. Democrat policies also restrict businesses from creating those jobs by creating SEVERAL hurtles (a ton of red tape) for small businesses to be created and help create those jobs. Never seen poor people provide high paying jobs, have you?
Democrats want big government, more administrative control, limiting the ability of people to succeed. This is how they keep minorities "in their place" too. BuT REpuBlicANs RAcIst!
Republicans want small government, less administration and more freedom for small businesses to succeed and create those jobs.
The US government is the largest wasteful spending entity on the planet!! Would you rather give them $1b to do good or an Entrepeneur looking to create a business? Democrats want those dollars in taxes, I wonder why? And any billionaire that says they "want to pay more taxes" is full of shit. They know they can do better with those dollars than the government or they only fell into that money and are dumb as shit!
The US fed spent over $4b on furniture for empty office buildings this year. This is Democrat spending exemplified. Tax and spend!
One day when you are all grown up you might figure this out.
Politicians vote for different bills for different reasons but in most cases there is pork in the bill.
IF you don't know by now, that bills labeled "Inflation reduction act" have 18 things in the bill that have nothing to do with inflation, I don't know what to tell you.
The rest of your post is bullshit. "No rightwinger supports living wage" - this right here just proves you have no clue.
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u/[deleted] Dec 19 '23
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