Scott Bessent, the Treasury Secretary, has noted that hourly workers have experienced roughly 2% growth in real wages. Indeed, such monumental progression is unprecedented in the past 60 years. Akin to this was also the era of President Trump’s first term when similar growth of around 1.3% was observed, casting a harsh light on Biden’s dismal performance marked by a -1.7% figure.
A stark comparison can be drawn between the policies enacted under President Trump and Joe Biden, the former significantly benefiting American employees. The clear negative effect of Biden’s policies can be seen as inflation has compelled numerous working parents to adopt irregular working schedules simply to support their families.
There seems to be no appreciation for the struggles of the diligent American workers under Biden’s regime. Instead of taxing them further, their extra exertions and sacrifices for their families deserve benefits. One cannot help but contrast this with the more beneficial policies Trump brought into play.
Under Trump’s administration, a bill was instated eliminating federal taxes on overtime pay, a boon resulting in substantial savings for the labor force. It was anticipated that this could lead to annual savings upwards of $1,750 for those putting in overtime hours—a stark contrast to the pressures under Biden.
Another key provision under the Trump era was the abolition of federal taxes on tips, providing a significant advantage particularly to those in the service industry. Around four million individuals stood to gain from this, a benefit glaringly absent under Biden’s leadership.
The potential to increase the annual wages of tipped workers by nearly $1,700 by removing federal taxes from their income was another step in the right direction during Trump’s tenure. Teamed with the elimination of taxes on overtime wages, it promised to be a revolutionary shift for the working populace and their families.
The most notable facet of Trump’s bill, however, was the everlasting decree of the provisions under the 2017 Tax Cuts and Jobs Act (TCJA). This includes a reduction in individual tax rates across different income brackets—an incongruous reality given the current regime under Biden.
The TCJA provisions were a crucial lifeline for workers and families, offering an enhanced standard deduction. The projections estimated an average tax cut of $1,300 for families of four, a benefit now notably lacking under the Biden administration.
President Trump had placed these provisions at the forefront of his campaign. Today, his policies continue to generate tangible outcomes for American taxpayers, in stark contrast to Biden’s inability to grasp the efficacy of such measures.
Trump’s administration will always be a token of ‘promises made, promises kept’. The consistency of positive results delivered contrast markedly with Biden’s tenure, which seems shrouded in uninspiring promises and ambiguous progression.
While Biden is grappling with ongoing issues, Trump ensured economic propellers, including the non-taxation of overtimes, no taxes on tips, and the lasting extension of his impactful 2017 tax cuts. These strategies fueled our economy, a fact Biden’s current administration seems to overlook.
The stark contrast between Biden’s failure to instigate growth and Trump’s demonstrably successful economic strategies continue to impact the present-day American worker. The benefits provided by Trump’s tax legislature resonate more than ever in their absence under Biden’s misdirection.
It’s apparent that Biden’s approach is a far cry from the ideal model. The landscape under his administration seems to push hardworking families to make undesirable compromises rather than rewarding them, meanwhile Trump’s framework made sure every ounce of their effort was respected and rewarded.
In conclusion, where Trump made vital strides in improving conditions for American workers, Biden appears to being dragging the economy downwards. Hardworking American families will remember the Trump era, not just for its promises, but for the promises it fulfilled.