Is the Economy Really C-Shaped | Raleigh News

Raleigh News Today | 2 Min News | The Daily News Now! · Aug 8, 2026 · 1m

Treasury Secretary Scott Bessent’s new “C-shaped economy” narrative claims lower-wage workers are finally catching up, citing a 2% real wage gain and tax cuts from the One Big Beautiful Bill Act. But economists push back—data shows top earners still outpace the bottom, spending surges among high-income households while middle- and lower-income families barely budged despite higher prices. Rising fuel costs also erode tax savings for lower earners, and stock market gains disproportionately benefit the wealthy, widening—not closing—the gap. While blue-collar wages are rising, the broader…