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

[634-5789]

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

https://www.politicususa.com/2021/03/12/biden-trickle-down-economics.html

[Wounded Bear]

1. Reaganomics can't die fast enough to save our country...

the next budget should repeal all of the Trump tax cuts for upper income and wealthy earners. And that's just a thought.

[calimary]

28. I DREAM about that day!

When we finally BURY “reaganomics” as dead as its namesake is.

Oh, but... but... but... we simply HAVE TO comfort the already-comfortable!!! Besides, it says so right there in the “Buy-bull”.

Oddly enough, the Bible I’m familiar with from 14 years of Catholic school doesn’t say anything about urging the necessity of comforting the already-comfortable. The Bible I learned about always talked at length about prioritizing the POOR.

[KY_EnviroGuy]

2. "an economy that grows from the bottom up and the middle out."

Great line, Mr. President. We should use that as our economic banner because workers can relate to it.

It is indeed time to put a ceiling on trickle-up.


KY........

[Laelth]

3. Liberal government. I am loving it. n/t

-Laelth

[Blue Owl]

4. This is the perfect time to do it

[everyonematters]

5. The second New Deal!

[bucolic_frolic]

6. Slay the dragon, Kemp-Roth is dead

The only real bone thrown to working people with Republican tax cuts was IRAs. Republicans couldn't understand that working people had little to save, and life comes at you. Later Roth IRAs were a bone to the rich. Convert and be tax free forever, and build a trust fund for your kids.

I'm all for Joe Biden's recovery plan, and changing the economy to reward workers too instead of just capital. Unfortunately all the tax free and tax shelters at the top of society still control just about everything.

[calimary]

16. And so is ronald reagan, the infernal father of "greed is good!"

He was the root of all evil.

All this “I hate the government” crap was unleashed by him.

I always wondered why he and other “I hate the government” goons were always so eager to get voted into office - ie: the government. Okay so you hate it. Then why do you want to be part of it?

[bucolic_frolic]

23. To dismantle its regulations so business can pollute and make more money

It really is that simple. Laissez-faire, unrestrained capitalism. This neanderthal thinking harkens back to cutthroat capitalism of the 1700s and 1800s - the kind that flourished on the slave trade, shipping, coal mining, railroads. The guys that built castles on country estates with the profits. Molasses to rum to slaves. They don't care if your air or water is clean. They live in luxury in a pristine 5000 acre compound. No pollution there.

[UpInArms]

24. I always have hoped

If there is a god, that Raygun would be reincarnated as a poor old black woman.

He hated the poor
He hated the elderly
He hated blacks
He hated women

He was despicable

[monkeyman1]

7. joe set the tone - let's go with it ! republican's in the rear view mirror .

[uponit7771]

8. AMEN AND AMEN!!!

[appalachiablue]

9. Let it rip Joe!

[crickets]

10. Fantastic. Just fantastic.

We have a president who 'gets it' and is not afraid to say so out loud. I've been politically aware to one degree or another since Nixon, and no president in my living memory has said these things out loud, meant them, intended to act on them, and then followed through to this degree. Apologies to Obama, but it's true and it's just stunning. I knew Joe was on the side of the everyday citizen, but didn't expect him to be this on the ball, especially this quickly. Love that man.

[tarheelsunc]

11. He's already such a transformational President.

So proud that I voted for him, in the primary and the general.

[fierywoman]

12. For all the R's who want to go back to the 1950's:

How about we tax the wealthy at the percentages they were taxed in the 1950's.

[NBachers]

13. Joe Biden has been president for 52 days. I pray that he remains safe and protected.

[Duppers]

14. Yes! 👍

[BigmanPigman]

15. The majority of Americans were against tax cuts for the rich in 2017.

https://www.pewresearch.org/fact-tank/2017/09/27/more-americans-favor-raising-than-lowering-tax-rates-on-corporations-high-household-incomes/

And the majority are in favor of Biden's recovery plan, so if the majority favors Dem policies how does the GOP keep getting reelected?!?!? I know they have to lie, cheat and steal (gerrymander, etc) but this is ridiculous.

[Mary in S. Carolina]

17. Biden is Bad A**

Seriously...we may be witnessing one of the greatest presidents of all times, after experiencing the worst president of all times.

[roamer65]

18. I will give up my tax cut gladly if I can see a 50 percent top marginal rate.

I’ll just max out my 401k contribution and watch the rich fuckers squirm.

[alittlelark]

19. It almost made me cry

.....but I never cry cuz My 56 years under reagonomics told me to .suck it up

[flibbitygiblets]

20. It made my 49 year old spouse cry.

Eyes all welled up with tears of relief and joy. Which of course made ME cry...

[betsuni]

21. Again today I was told, condescendingly, that Democrats are "neoliberals." The mind reels.

[PoindexterOglethorpe]

22. This is so amazing.

I was already an adult when Reagan became President, and I was horrified. He was, at that time, the very worst President in well over a century. For reasons I've never understood, the press idolized him. But it was obvious to me from the very beginning that he was undermining everything.

I will NEVER forgive him for firing the air traffic controllers. And I will NEVER forgive Lane Kirkland, the head of the AFL-CIO for supporting him. It was the absolute death knell for unions. Our country has never really recovered. There is a certain amount of hope when I read about unionization efforts at amazon and in coffee shops and among graduate students.

One way to raise tax revenue I really, really hope is enacted is some kind of a small charge on every single stock market transaction. I have some investments, and I'm sure this will impact me, but not in a way that will affect my investments. It's only fair. Heck, I'm lucky enough to have the money to invest, why shouldn't I pay a small tax? And there are so very many transactions every day, it would raise billions of dollars. And if it keeps unscrupulous money managers from churning accounts, all the better.

Oh, and get rid of all of the tax cuts for the wealthy that have been put in place starting with Ronald Reagan.

[moondust]

25. At long last.

Reagan's war on the poor and working class by the rich and powerful should have been seen for what it was and rejected decades ago. Instead, Reagan and Thatcher set the parameters for how "capitalism" works in the "free world"--as opposed to the totalitarian communists. In that binary struggle I suspect their predatory model spread in varying degrees to much of the "free world" and did a lot of damage to poor and working classes even beyond the U.S. and U.K.

[Hortensis]

26. :) That's our REAL Joe Biden (not the lying-liars' version)

This is who he always was but now operating in the current context in this era as the president.

Btw, Nancy Pelosi said something related and far, far more bluntly (below). Joe's not taking it there in this speech, but they're on the same page, as was Obama and most of our party. What's happened to our nation politically and economically is in very large part the result of a few gaining so much power and wealth that democracy becomes an existential threat.

[Edwcraig]

27. Tinkle on Economics

[dalton99a]

29. It is good to put an official end to the fraud