Wages have outpaced inflation recently. Things have generally been heading in the right direction since the pandemic but it came too late and the masses are mostly ignorant or misinformed so the data is irrelevant to them. Its about how people feel as you point out, there's not a rational argument against feelings, people feel how they feel. One side has become very good at taping into those feelings, the other side is talking about data and no one gives a shit unless the data validates what they feel.