Hillary Clinton played the income inequality card. And President Trump won because working Americans were sick and tired of her lies. Because they were lies, and now we have the numbers to prove it. In his analysis, published in April, Cato Institute’s John F. Early, shows that recipients of government handouts multiplied their spendable income by as much as six times earnings during the Obama years. How? For doing nothing. Meanwhile, their neighbors, working two to three jobs, treaded water. As we head into the mid-terms this is the canary in the coal mine. Mr. Early’s work is highlighted by Phil Gramm and Robert Ekelund in the WSJ:
The harder people worked without getting ahead, the more reason they had to feel disrespected and alienated in November 2016. President Obama and Hillary Clinton mocked their values. The tax and regulatory policies of the Obama era caused economic growth and middle-income wages to stagnate. But what must have added insult to these injuries was the increasingly obvious fact that the boom in government benefits and the decline of economic growth had all but eliminated the rewards that middle-income Americans traditionally received for working hard. The explosion of social spending, and the dependency it generated, no doubt benefited the Obama campaign in 2012. But that same spending helped create the wagon-puller backlash that defeated Mrs. Clinton in the next election.
Read more here.
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