Income across all demographics rose more during President Donald Trump’s first term than during former President Joe Biden’s time in office, while Trump was also more effective in pulling Americans out of poverty, according to the Census income & poverty data.
The 2024 Census income and poverty data, released last week, combined with data over previous years, provides a full picture of changes in income in inflation-adjusted dollars as well as poverty levels throughout his presidency. When compared to Trump’s performance, Biden’s numbers are abysmally low.
From 2020, the last full year of Trump’s presidency, to 2024, the last full year of Biden’s term, median income across all demographics increased $2,150, or 2.6 percent. In comparison, from 2016, President Barack Obama’s last full year in office, through Trump’s final full year of his first term in 2020, the median income increased by $6,200, or 8.2 percent.
What is more, median earnings among women decreased by 6 percent or $3,660 from the final year of Trump’s first term to Biden’s final year. From Obama’s final year to Trump’s final year, women’s average income saw an $8,130 or 15.3 percent increase.
Black Americans saw very slow growth throughout Biden’s term. From 2020 through 2024, the average median income for Black Americans increased by 1.5 percent, or $810, after rising $4,790, or 9.5 percent, during Trump’s first term.
Hispanic Americans and Asian Americans saw median income growth of 6.7 and 6.6 percent, respectively, under Biden, down from the 9.2 percent and 9.8 percent boosts they enjoyed from Obama’s last year into the final full year of Trump’s first term.
Moreover, Trump helped more Americans out of poverty in his first term than Biden did when he was in office, according to the data.
In Trump’s first term, 3,070,000 Americans were lifted out of poverty, compared to 1,670,000 Americans in the Biden years. And while Trump helped 263,000 Asian Americans to get above the poverty line, 108,000 Asian Americans entered poverty during the Biden administration.
In all, Trump oversaw a 1.2 percent decrease in the poverty rate, while Biden was responsible for a .9 percent drop.
“America was booming during President Trump’s first term, then Bidenomics wrecked the economy causing an inflation crisis that massively hiked the cost of living for families,” White House assistant press secretary Taylor Rogers told Breitbart News in a statement.
“Compared to Joe Biden, President Trump’s aggressive pro-growth agenda actually lifted more Americans out of poverty and incomes rose more across all demographics — despite the Democrats’ empty rhetoric. The President’s proven policies uplifted all Americans in his first term, and he is doing it again,” Rogers added.
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