OPINION:
In the one debate between former President Donald Trump and Vice President Kamala Harris, Ms. Harris attacked Mr. Trump for having a racist record, citing his statements in response to the 2017 protests In Charlottesville, Virginia.
My intention here is not to defend Mr. Trump on some of the things he says about race, which some interpret as offensive.
I’m here to look at whether Mr. Trump or the Biden-Harris administration has a better actual record — not better rhetoric — in advancing the economic opportunities and advancement of Blacks and minorities.
In my new book co-written with Arthur Laffer, “The Trump Economic Miracle,” we point out the many achievements in Mr. Trump’s term, from legislation for chronically sick Americans who want to try new potentially lifesaving treatments to boosting domestic energy production, the economic boom and advancing peace around the world.
Perhaps his most impressive accomplishment, however, was lifting the living standards of minority Americans.
Under former President Barack Obama and President Biden, minorities made almost no progress and fell behind in several ways. Under Mr. Trump, the financial and economic improvement was remarkable. The chart below shows the most recent census data on median income. Blacks saw almost twice the gains under Mr. Trump, while Asians and Hispanics saw five times the income gains.
When we look at weekly earnings for families, Blacks and Hispanics have seen declines in income versus roughly a $5,000 average gain under Mr. Trump.
The main reason for the far superior increase in the standard of living for minorities is that cumulative inflation was much lower under Mr. Trump (8%) than under Mr. Biden (20%). Minorities get crushed by higher gasoline, grocery and housing prices.
Mr. Trump’s record with minorities on income, however, was also superior to that of Mr. Obama on an annualized basis. Remember, Mr. Obama was president for eight years versus four years (so far) for Mr. Trump.
There is more. Under Mr. Trump, Blacks and Hispanics saw record reductions in poverty.
Mr. Trump’s policies were also better for Blacks and Hispanics than those of Mr. Obama, our first Black president.
The unemployment rate for Blacks and Hispanics also hit record lows under Mr. Trump — although the rate has fallen this year under Mr. Biden. Homeownership for Blacks and Hispanics also hit an all-time high under Mr. Trump, and the rate today still remains below the Trump high mark.
It turns out that Mr. Trump’s tax cuts, energy policies and deregulation initiatives don’t benefit just the rich but people of all incomes and all ethnicities. For example, the average family saw roughly $10,000 in savings from Mr. Trump’s deregulation but saw a more than $40,000 cost (on a lifetime basis) under Mr. Biden’s reregulation policies.
One last point that Mr. Trump should emphasize. The most important civil rights issue of our time to improve the lifetime economic opportunities for Black and Hispanic children — especially in the inner cities — is school choice so that parents can send their children to better schools. Mr. Trump is strongly in favor of this. Mr. Biden and Ms. Harris are opposed — mostly because they care about teachers unions over minority children.
So, if racism is about holding back the economic progress of minorities, then the media have the narrative all wrong. Polls show that Mr. Trump is gaining ground with Black and Hispanic voters. But some 80% of Blacks still say they will vote for Ms. Harris.
If they vote their wallets and who’s best for their children’s financial future, they still may change their minds.
• Stephen Moore is a visiting senior fellow at The Heritage Foundation and co-author of the new book “The Trump Economic Miracle.”
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