NEW: David Sacks argues that poor and middle-class Americans are doing better under Trump than Biden.

"If you look at US household income, it is now at a record high... And after-tax household income is growing again in the second Trump term."

"It's averaged 3.1% a year in Trump 47. It was 3.9% in Trump 45 and it was minus 1.2% in Biden's term as a 4-year average."

"The poverty rate in the US has fallen to its lowest level in history, 10.2%. The poverty rate, the child poverty rate—these are all at historic lows."

"I would just dispute the K-shaped narrative because the poor are benefiting and the average household is benefiting as well."

Under Biden, inflation hit a 40-year high and prices rose about 21% from January 2021 to January 2025.

Real incomes are recovering, but the price increases from the inflation surge didn't disappear.

Most Americans still feel that higher price level every time they pay rent or buy groceries.