In the speech when Warren, the liberal favorite who some supporters hope will run for president in 2016, laid out an argument for raising the minimum wage and she took a bit of a detour to attack the supply side economic approach. Since the 1980s, too many of the people running this country have followed one form or another of supply side — or trickle-down — economic theory. Many in Washington still support it, Warren said. When all the varnish is removed, trickle-down just means helping the biggest corporations and the richest people in this country, and claiming that those big corporations and rich people could be counted to create an economy that would work for everyone else. Warren continued that trickle-down was popular with big corporations and their lobbyists, but it never really made much sense. She noted that the senior president Bush called it voodoo economics. He was right, and let’s call it out for what it is: Trickle-down was nothing more than the politics of helping the rich-and-powerful get richer and more powerful, and it cut the legs out from under America’s middle class, Warren continued.
Posted on: Thu, 08 Jan 2015 00:49:50 +0000
Trending Topics
Recently Viewed Topics
© 2015