The new U.S. Census numbers spell doom for the Democrats as they show Americans have become increasingly worse off under President Joe Biden’s economy.
Venture capitalist Chamath Palihapitiya broke down the new Census numbers in a post on Twitter/X.
The figures are not good for Biden.
Palihapitiya said: “US incomes have fallen every year of the Biden Presidency thus far.
“Median incomes: The median income last year fell to $74,580.
“90th percentile fell to $216,000, and the bottom 10th was $17,100.
“Poverty rate – the supplemental poverty measure – based on post-tax income and includes government-transfer payments like stimulus checks – rose to 12.4%.
“It was the first increase since 2010.
“Income inequality: The Gini index fell to 0.488, narrowing the gap as pay among the highest earners decreased.
“A Gini coefficient of zero reflects perfect equality, where all income or wealth values are the same, while a Gini coefficient of 1 (or 100%) reflects maximum inequality.”
US Census data just released:
Incomes: US incomes have fallen every year of the Biden Presidency thus far.
Median incomes: The median income last year fell to $74,580. 90th percentile fell to $216,000, and the bottom 10th was $17,100.
Poverty rate