Morgan Stanley is crediting President Biden’s economic policies with driving an unexpected surge in the U.S. economy that is so significant that the bank was forced to make a “sizable upward revision” to its estimates for U.S. gross domestic product, CNBC reports.As a result of these unexp
It’s literally defined as build out from the middle and up from the bottom, how is that the same as trickle down? Or did you miss the part where it has an actual definition?
The definition and implementation are grossly out of sync then.
I’m not about to argue that the implementation does enough, but you’re willfully ignorant if you don’t think the infrastructure bill was exactly that. Also, Republican presidents consistently implement trickle down economics, and at the very least the Biden administration for the most part doesn’t.
Republicans being worse doesn’t mean democrats are good. They all worship at the neoliberal altar of trickle down, even if they make minor tweaks here and there and call it [other]nomics. The infrastructure bill had some much-needed infrastructure spending, but doesn’t change anything about our trickle down economic system.
That’s a very binary response. I agree that they should be doing more, but I also think it’s important to recognize what they are doing. Sweeping change doesn’t happen over night, and so far the actions I’ve seen in Biden’s administration lean pretty heavily away from past neoliberal trickle down. The attempted student loan forgiveness, the new head of the FTC, investment in infrastructure and jobs, Tax plans to reverse the cuts and loopholes for the rich introduced by the previous, capping capital gains tax (as in switching to income tax after a certain number is earned), a minimum income tax on people with wealth above $100 million, and much more. All of that is counter to trickle down economics, and some of it is even a reversal from Obama era decisions and Clinton era decisions. Bernie is definitely doing work in his position, a quote from a Guardian article quoting Bernie:
So yeah, I despise Biden’s past voting record and behavior, and I think we could do better. But it’s totally counter productive to act like nothing has changed in this administration without actually paying attention to what’s happening, the government is not just the president.