Hassett: At the Peak of the Inflation Crisis Under Biden, Real Wages Declined By $2000 for the Typical Worker

RUSH TRANSCRIPT KUDLOW So ░░░░░░░░ is good music to ░░░░░░░░ ears what about middle ░░░░░░░░ maybe even lower income ░░░░░░░░ wage growth wages wages ░░░░░░░░ been pounded during the ░░░░░░░░ administration prices rose much ░░░░░░░░ than wages if you ░░░░░░░░ this extension through and ░░░░░░░░ the new Trump 2 ░░░░░░░░ tax cuts through good ░░░░░░░░ companies good for individuals ░░░░░░░░ for small business what ░░░░░░░░ wage growth look like ░░░░░░░░ the middle income wage ░░░░░░░░ typical wage growth HASSETT ░░░░░░░░ the peak of the ░░░░░░░░ crisis under Biden real ░░░░░░░░ declined by 2000 for ░░░░░░░░ typical worker and they ░░░░░░░░ up in the Trump ░░░░░░░░ by more than what ░░░░░░░░ promised so the thing ░░░░░░░░ are doing is taking ░░░░░░░░ policies and renewing them ░░░░░░░░ extending them but we ░░░░░░░░ also adding new things ░░░░░░░░ benefit real wages it ░░░░░░░░ not the real before ░░░░░░░░ wage that matters it ░░░░░░░░ a real after tax ░░░░░░░░ if you cut taxes ░░░░░░░░ social security if you ░░░░░░░░ taxes on overtime if ░░░░░░░░ cut taxes on tips ░░░░░░░░ increases real wages after ░░░░░░░░ for people that matter ░░░░░░░░ most and I can ░░░░░░░░ highlight enough the growth ░░░░░░░░ if you re cutting ░░░░░░░░ on people who are ░░░░░░░░ hourly workers it s ░░░░░░░░ hours the respond a ░░░░░░░░ so you get really ░░░░░░░░ economic effects remember 70 ░░░░░░░░ value added in the ░░░░░░░░ is produced by American ░░░░░░░░ so if you change ░░░░░░░░ output of American workers ░░░░░░░░ hourly contribution of American ░░░░░░░░ to work you have ░░░░░░░░ really big GDP affect ░░░░░░░░ that affect is the ░░░░░░░░ stage of our modeling ░░░░░░░░ first is what we ░░░░░░░░ last time and we ░░░░░░░░ getting astonishing results.”