Sen. Bernie Sanders on the Failure of Trickle-Down Economics
A great speech. Sen. Bernie Sanders, ranking member of the Senate Budget Committee, talks about the failure of trickle-down economics.
In my view there is a war going on in this country. […] against the middle class, against the American standard of living, and against The American Dream. […] The economy is growing in a way that is leaving most of our citizens no better off. […] Left unchecked, widening disparities in wealth and opportunity can give rise to dangerous levels of social unrest. […]
My Republican friends believe that the economy will grow if we just give more tax breaks to millionaires, billionaires, and the largest corporations in America. They refer to this top 1% as the ‘makers’ or the ‘job creators,’ and they insist if we rub their bellies just right, […] we can coax them into building an economy that will work for everyone. That’s called trickle-down economics. […]
The only problem with that theory is that it has been tried, and the evidence is overwhelming that it has failed. […]
Trickle-down economics is a fraud. It works for the very wealthy. It does not work for working families. The job of this Congress is to protect the middle class and working class, and not just billionaire campaign contributors.
— Sen. Bernie Sanders