Wealth of Black Families
Biden’s press secretary, Karine Jean-Pierre, claims that “Bidenomics has supported Black small businesses helping Black wealth to go up 60% since the pandemic.”
IN FACT, the inflation-adjusted median income of black families has declined 2% since the pandemic. The median wealth growth she brags about was mainly from pandemic policies that stoked inflation and home prices, hurting black workers and non-homeowners.
In the pre-Covid years of Trump’s presidency, the median income of black families rose by 7% and their median wealth rose by 33%.
