Former White House economic adviser says Census data show middle-class incomes rising
byTAYLOR FISHMAN | The National News Desk
Wed, July 22, 2026 at 10:03 AM
UpdatedWed, July 22, 2026 at 10:28 AM
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LONDON, ENGLAND – FEBRUARY 19: A cashier at a Travelex Bureau de Change counts U.S. Dollars in exchange for British pounds February 19, 2004 in London. (Photo by Ian Waldie/Getty Images)
After years of elevated inflation, new income data suggests many middle-class Americans are beginning to regain purchasing power, fueling debate over the strength of the U.S. economy and the policies driving recent gains
Speaking with The National News Desk, former White House economic adviser Steve Moore pointed to newly analyzed Census Bureau data that he said shows household incomes have risen during President Donald Trump’s second term after adjusting for inflation
“This is official Census Bureau data that our group, Unleash Prosperity, has gotten access to,” Moore said.
According to Moore, the latest figures show the median U.S. household income has reached approximately $86,000
“The median household income in the United States is now $86,000,” he said. “In most countries, to have $86,000 would be considered to be very rich. It just shows we live in an affluent society.”
Moore acknowledged that incomes fell sharply during the COVID-19 pandemic as employment declined but said the recent trend has been positive
“When you adjust for inflation, since Trump came into office in his second term, incomes for people right in the exact middle… have seen about a $3,000 increase in their after-inflation income,” Moore said
While he noted incomes have softened somewhat in recent months because of higher gasoline prices, Moore said the overall increase remains meaningful
“Three thousand bucks is significant no matter who you are,” he said.
Moore also argued that America’s economic strength is tied to its ability to continually replace older industries with new ones
He pointed to the changing makeup of the Dow Jones Industrial Average as an example of the country’s economic dynamism
“Of the 30 companies in the Dow Jones 50 years ago, only one remains today,” Moore said
Rather than viewing that turnover as a weakness, he called it evidence of a healthy economy driven by innovation
“You think back 30 or 40 years ago, you were talking about companies like Kodak and Chrysler and IBM,” he said. “Well, guess what? They’ve been replaced by companies like Nvidia, Google, Apple and Amazon that didn’t even exist 25 or 30 years ago.”
Moore contrasted that with France, where he said many of the country’s largest companies have remained largely unchanged for decades
“That’s a real testament to our free enterprise system,” he said.
The discussion also turned to medical innovation, where Moore argued that government regulations can delay patient access to promising treatments
“The United States does lead in new drug development,” he said, adding that many major pharmaceutical breakthroughs have originated in the U.S
His primary concern, Moore said, is the amount of time it takes for new therapies to become available
“When you’ve got deadly diseases… why not let patients start to have access to these drugs earlier?” he said. “If you’ve got a terrible disease, why not allow people to have that choice?”
Moore said he believes patients should have greater freedom to decide whether to use experimental treatments
“I’m a free-market guy. I believe in freedom of choice,” he said.
The interview concluded with a discussion of a new New Jersey law requiring certain employers to pay assessments tied to employees who receive Medicaid benefits
Critics argue the policy could discourage businesses from hiring lower-income workers or expanding within the state
Moore said he believes the measure could place additional burdens on small businesses already operating on thin profit margins
“I don’t like this policy at all,” he said. “You’re just going to discourage companies from hiring workers.”
While Moore said he supports employers offering health coverage whenever possible, he argued that mandating additional costs could ultimately reduce hiring
“I wish every company could afford to provide lavish health care for people, but some can’t,” he said. “If you tell the companies they have to, then they may just not hire workers at all.”
Moore added that, in his view, the greatest concern is not having a job with limited benefits but not having employment in the first place
“There’s nothing worse than having a job that doesn’t provide health care,” he said. “And that’s not having a job at all.”
