Harris Wage Gap: Inflation Gives 82 Cents for Every 2020 Dollar
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Key Takeaways
- Inflation is a critical voter issue, with 72% of Americans unhappy with current wages relative to the cost of living.
- Most people blame the Biden-Harris administration for rising costs and economic strains they feel every day.
- Dominant sentiments are anger among Republicans, disillusionment among Independents, and defensiveness among Democrats.
Our Methodology
Demographics
All Voters
Sample Size
47,000
Geographical Breakdown
National
Time Period
7 Days
MIG Reports leverages EyesOver technology, employing Advanced AI for precise analysis. This ensures unparalleled precision, setting a new standard. Find out more about the unique data pull for this article.
Inflation is holding strong as a defining economic issue for voters in 2024. Since Biden and Harris took office, reports show consumer prices have risen more than 20%. Americans feel very little hope for relief if trends continue. Online discussions show strong dissatisfaction among all voters, though with some partisan disagreements about who is at fault.
If you made $100,000 a year when Biden-Harris took office...
— John LeFevre (@JohnLeFevre) October 10, 2024
Congratulations, you now make $83,000 a year.
Vote accordingly. pic.twitter.com/WAV2dI7m47
MIG Reports analysis shows:
- 64% of overall voters blame Biden and Harris for the current economy.
- 72% of Americans are unhappy with current wages relative to the cost of living.
- 59% express feelings of financial helplessness due to rising costs.
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Data from Federal Reserve Economic Data justifies the negative sentiment Americans express with Consumer Price Index (CPI) trends during the Biden-Harris administration:
- The cost of All Items rose 21% from 2020 to today.
- Food at Home surged 25%.
- Medical Care costs have risen 10%.
- Rent for Urban Consumers rose 24.8% during the current administration.
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Americans feel inflation as more than a statistic—they feel it as a daily reality. Discussions on social media overwhelmingly focus on the struggle to cover basic needs like groceries, housing, and healthcare. This is where 72% of voters express dissatisfaction with wage levels relative to inflation. Conservatives are often most vocal, viewing inflation as a consequence of Biden-Harris economic policies.
Wages Aren’t Keeping Up
The mismatch between rising prices and stagnant wages is further driving voter frustration. While the government reports nominal wage gains, increases are swiftly negated by inflation. Bureau of Labor Statistics data shows median weekly wages reached $1,151 this year. However, when adjusted for inflation, purchasing power is equivalent to just $946 in 2020 dollars. This gap between nominal and real wages highlights the tangible quality of life strains Americans feel.
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MIG Reports data shows:
- 48% of economic discussions mention wage stagnation.
- 60% are skeptical of government statistics on job growth and wages.
Many Americans feel they’re being lied to about the state of the economy—though this sentiment is more common among Republicans. Voters say the so-called wage increases mean nothing when they cannot afford the same expenses they did four years ago.
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Partisan Political Blame
Overall, Americans are unhappy about the economy. Most blame the Biden-Harris administration for rising inflationary pressures, but there are partisan divides. Sentiment is strongest among Republicans with 84% blaming Biden-Harris as the primary source of economic hardship.
Republicans
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Inflation and the economy are top issues for Republicans, along with border security.
- Economic Mismanagement: Republicans view Democratic policies, particularly the American Rescue Plan and Inflation Reduction Act, as directly fueling inflation. They believe these measures injected too much money into the economy, benefiting government and corporate interests at the expense of citizens.
- Support for Trump: 85% of Republican voters intend to vote for Trump, saying his policies manage economic issues more effectively. They often cite pre-COVID quality of life, calling for “America First” policies that reduce government spending.
- Distrust of Government: 55% of Republicans are skeptical that a Harris administration would implement any substantial policy changes. They view the government’s attempts to combat inflation as ineffective or exacerbating.
The dominant tone among Republicans is one of anger and distrust, with many voters convinced that a change in leadership is the only way to address the rising cost of living.
Democrats
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Many Democratic voters defend Biden’s economic policies, citing wage growth and job creation, though some acknowledge the ongoing challenges of rising costs.
- Economic Optimism: 25% of Democratic voters highlight Biden-Harris efforts to address inflation, pointing to initiatives like the Inflation Reduction Act and the American Rescue Plan as positive steps. They say inflation is now under control.
- Blaming Trump: 60% blame inflation on Trump’s legacy, specifically citing his tax policies, trade wars, and COVID-19 policies. They view Biden and Harris as working to fix problems inherited from Trump, not creating new ones.
- Frustration Over Jobs: However, 15% are skeptical about whether Biden-Harris initiatives will make lasting improvements. They acknowledge positive job reports but worry about wage growth. Tim Walz in particular is facing state-level criticism for perceived mismanagement.
The Democratic voter base is split between those who defend the administration and those who are frustrated by inflation and stagnating wages. The largest theme is defensiveness, as many say the highest priority is preventing a second Trump term.
Independents
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Discussion among Independents is low, but most express disillusionment with both political parties. Many directly blame Democrats, but there is not loss of criticism for Trump as well.
- Economic Frustration: 62% focus on rising costs of living and the strain of inflation on average American families. There is urgency and a call for immediate action to slow skyrocketing prices.
- Kamala Blame: Many Independents criticize Harris for not addressing the inflation crisis effectively in the last four years. They say she mismanaged the economy as well as immigration, which impacts both economic strain and public safety.
- Poor Disaster Response: 25% criticize inequities in government support following Helene and Milton. Many voice discontent over the federal government prioritizing illegal immigrants over American citizens affected natural disasters.
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Economic Discontent Drives Votes
With Election Day less than a month away, economic discontent is likely to influence voter behavior. Trump is poised to capitalize on this frustration, especially in swing states where economic concerns are a high priority.
Predictions
- Republican Turnout: Many expect high voter turnout among Republicans, particularly in suburban and rural areas hit hardest by inflation and stagnant wages.
- Few Swing Votes: Independents and moderates, though disillusioned with both parties, may swing Republican if Trump maintains strong economic messaging and Harris continues to fumble media hits.
- Economic Discontent: If Americans continue to feel individually impacted by economic conditions, they are likely to lean further into a change platform. Mixed messaging from Biden and Harris on Harris’s track record and future plans will likely push voters toward Trump.
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