Biden Just Declared War On Trickle Down Economics And Tax Cuts For The Rich

Last updated on July 18th, 2023 at 01:22 pm

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In the Rose Garden, President Biden said that he is changing the paradigm and building an economy for working-class people.

Video:

President Biden said:

By the end of this year, this law alone will create 7 million new jobs. 7 million. And the bill says one more thing which I think is really important. It changes the paradigm. For the first time in a long time, this bill puts working people in this nation first. It’s not hyperbole. It’s a fact. For too long, it has been the folks at the top. They’re not bad folks. A significant number know they shouldn’t have been getting the tax breaks they’ve had. But it put the richest Americans first. We’ve all heard it. Especially in the last 15 years, the theory was, cut taxes, and those at the top and the benefits they get will trickle down to everyone.

Well, you saw what trickle-down does. We’ve known it for a long time. This is the first time we’ve been able since the Johnson administration, maybe even before that, to begin to change the paradigm. We’ve seen time and time again that that trickle-down does not work. By the way, we don’t have anything against wealthy people. You have a great idea, go out and make millions of dollars, that’s fine. I have no problem with that. But guess what. You’ve got to pay your fair share. You’ve got to pay because guess what? Folks making, living on the edge, they’re paying. And so again, all it has done is make those at the top richer in the past. And everyone else has fallen behind. This time it’s time that. We build an economy that grows from the bottom up and the middle out. This bill shows when you to that, everybody does better.

President Biden laid it all out. He is giving the economy back to working people. The era of bogus trickle-down economics is finished. President Biden understands that the people at the middle and bottom drive the US economy.

There are no magic “job creators” or tax cuts that pay for themselves.

The job creators in this economy are the working class, and President Biden ensures they are rewarded.

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Jason Easley

Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.

Awards and  Professional Memberships

Member of the Society of Professional Journalists and The American Political Science Association