Anybody notice Biden's speech yesterday beginning at 19:30 mark?

[KS Toronado]

He was badmouthing "trickle down economics" and offered "bottom up economics". Wish Joe could get
Robert Reich to start a national campaign on educating Americans about the difference and how we're
better off with "bottom up economics". Lets get people back to voting their pocketbooks. Could get
independent & moderate republicans to vote Democrat.

[Chainfire]

1. I have been trickled on since Ronald Ray Gun

I would like to see the trends reversed. I want to trickle on the rich for a while.

[Jopin Klobe]

5. "I want to trickle on the rich for a while." ...

... I, too, have a dream ...

... and you've stated it admirably ...

[brush]

2. He's the man for the moment. That passage in the speech...

shows exactly who he is and how aware he is of the critical juncture the nation is in.

[drray23]

3. Yes I did, it was a transformative speech

This marks the end of the trickle down economics if we can keep it..

He also had a funny zinger at Sarah Palin. While saying that during the Obama administration he was put in charge of the recovery plan, he said he got on the phone with hundreds of mayors and all governors more than once except for the one that used to be able to see russia from her house..

[NBachers]

4. Trickle up - No More Trickle Down

[KS Toronado]

20. Guy that made that sign is a genius

[NBachers]

21. People may have had a different reaction if they'd walked into the men's room at work & saw that guy

snapping photographs of the vintage urinal on the wall!

[dalton99a]

6. It is a new paradigm, indeed.

Trickle down is a scam. It is bullshit.

[WarGamer]

15. It's because Trickle Down is inefficient.

Give $1000 to a wealthy person and it will probably just end up in a Money Market account or in their Stock Portfolio.

Give $1000 to a poor person and it gets spent SEVERAL TIMES.

Poor dude gets the check and buys a new TV and pays his cell phone bill. Best Buy hires employees who earn a paycheck and the Cell Phone company builds a few new towers... hiring a Construction firm.

The ONLY way trickle down WOULD work would be if the spending would be mandated. But as long as the wealthy hoard and accumulate wealth... trickle down is a myth.

[malaise]

7. This thread nails it

https://upload.democraticunderground.com/100215216727
Reagan gave the planet the Raw Deal and it's in the process of being torn down.

[KPN]

13. +++

[Eyeball_Kid]

14. It took over 40 years.

We all lost a lot of progress.

[malaise]

16. Tell me about it

It set back the entire planet - wages, rights, health care, education and democracy. It has been rule by plutocrats who own the politicians and the media.

[Politicub]

8. The campaign behind the Rescue Act has just started.

Biden’s government has billions of dollars at its disposal, and will likely get more for infrastructure.

The people are on the side of the Democratic Party.

[BobTheSubgenius]

9. "Trickle-down economics" is SUCH a bad idea. It's not like you even need a lot of facts and figures.

If it worked even half as well as its proponents claim, the US economy would have been in glorious shape for decades. But it doesn't, so it's not.

It's a concept that perfectly fits my maxim:

"If billionaires are for it, you should probably be against it."

[wryter2000]

10. Yes!

My jaw dropped. It said we're going to do things the way we did before St. Ronnie screwed the country up. I hope this ARP lifts lots of people and ends trickle down for good.

[CaptainTruth]

11. Supply-side vs demand-side

GOP economics (since Reagan, anyway) have been all about supply-side, give more money to the rich producers & that will somehow stimulate the economy & money will "trickle down" to average folks.

The problem is, our economy is not driven by supply, it's driven by demand. It's driven by millions of average folks having money to spend on goods & services. It's driven by consumers (demand-side), not producers (supply-side).

I'm a business owner & I don't care how many tax cuts the GOP gives me, I will never hire people to stand around & do nothing. The only way I will expand my business & hire more people is if there's more demand for my good & services. Again, we're right back to demand (average consumers) driving business growth & hiring, not the other way around.

I'm convinced that the only reason Republicans push the myth of supply-side economics is because it gives them justification (albeit a false one) for giving more money to their wealthy donors, who then make larger campaign contributions, which enables them to keep their positions in government, which is really the main thing they care about most.

[brush]

12. Your last paragraph nails it. That's republican-think to a T.

[ancianita]

17. I've been reading something that might explain where he's going.

It's called Doughnut Economics by Kate Raworth, and its Chapter 5 will blow American minds. Many thanks to PETRUS for recommending it to me. I'm still listing all the amazing bottom-up open source economy building designs it explains.

I'd bet that Joe knows that we are in the perfect position to do bottom-up economic redistribution at this point. I highly recommend this book for anyone who's interested in redesigning our old school corporate economics.

[crickets]

18. This book looks fascinating; thanks for that.

eta - also found a pretty good article on the subject:

Amsterdam Is Embracing a Radical New Economic Theory to Help Save the Environment.
https://time.com/5930093/amsterdam-doughnut-economics/

[ancianita]

19. Thanks for the article. I'm now on Chapter 6. These ideas are out there today. They just need

state (as in federal) support and more work to preserve the commons. These ideas are our way out of an economy for the 1%. You'll dig it. I wouldn't be surprised if Biden and Bernie have already read it.