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Thread: Trickle-down economics doesn't work but build-up does – is Biden listening?--R. Reich

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    Default Trickle-down economics doesn't work but build-up does – is Biden listening?--R. Reich

    A new study confirms tax cuts for the rich do not benefit the rest. Recovery from the pandemic is a chance to change course

    Trickle-down economics is a cruel hoax, while the benefits of build-up economics are real. At this juncture, between a global pandemic and the promise of a post-pandemic world, and between the administrations of Trump and Biden, we would be well-served by changing the economic paradigm from trickle down to build up.

    https://www.theguardian.com/commenti...omics-build-up

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    "How should the huge financial costs of the pandemic be paid for, as well as the other deferred needs of society after this annus horribilis?

    Politicians rarely want to raise taxes on the rich. Joe Biden promised to do so but a closely divided Congress is already balking.

    That’s because they’ve bought into one of the most dangerous of all economic ideas: that economic growth requires the rich to become even richer. Rubbish."

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