A presidentās budget proposal is seldom passed into law. Instead, itās an expression of the priorities the president promises to fight for, often coming on the heels of an agenda laid out in the State of the Union address.
In his recentĀ State of the Union speech,Ā President BidenĀ previewed his economically populist priorities when he said āthe days of trickle-down economics are over.ā
Trickle-down refers to the idea that tax cuts for the wealthiest ātrickle downā to the rest of us. Itās long been a popular idea in Washington, but itās just not true. A few years ago, the London School of Economics studiedĀ 50 years of such ātrickle-downā policies in 18 industrialized nations, including the U.S., and found that their only result was increasing the wealth of the already wealthy.
So how do we get prosperity for the rest of us? ByĀ taxing extreme wealthĀ and investing those revenues in social goods like education, housing, food and health care. President Bidenās recently released federal budget planĀ follows that blueprint, putting the value of investing in American families and communities ahead of slashing taxes for the rich.
Canāt wait for the Republicans to hold the Senate, block every part of this budget and have everyone blame Biden because politics are too complicated.
More likeā¦ Canāt wait to continue watching this circus.
Lol please. Even if Democrats controlled both houses, none of this shit would pass. The presidentās budget is quite literally propaganda. The article title is fucking ridiculous. None of the Democrats in a position of power have any desire to end trickle down economics. Theyāve all been there for decades and theyāve had multiple opportunities to do so in that timeframe
Wake the fuck up already, none of these people give a single shit about you. And they havenāt since the mid 90s when Democrats adopted āthird wayā right wing economics.