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In reply to the discussion: "Elizabeth Warren Simplifies Thomas Piketty: 'Trickle Down Doesn't Work. Never Did'" [View all]frazzled
(18,402 posts)41. Obama has said it 500 times, at least
Over the years, at all the economic talks he's given around the country, he always has brought it up. Just for the record.
It always goes something like this:
"Top-down economics doesn't work," President Obama told an adoring crowd this September in Virginia Beach. "We don't need to double down on the same trickle-down policies that got us into this mess in the first place," he continued.
http://www.realclearpolitics.com/2012/12/16/obama039s_trickle-down_economics_297984.html
Trickle down economics, the conservative theory embraced by Ronald Reagan and virtually every conservative since, doesnt work, Obama declared. And even as conservatives have clung to the idea in the face of overwhelming evidence against it, it has never worked, Obama added:Now, just as there was in Teddy Roosevelts time, theres been a certain crowd in Washington for the last few decades who respond to this economic challenge with the same old tune. The market will take care of everything, they tell us. If only we cut more regulations and cut more taxes especially for the wealthy our economy will grow stronger. Sure, there will be winners and losers. But if the winners do really well, jobs and prosperity will eventually trickle down to everyone else. And even if prosperity doesnt trickle down, they argue, thats the price of liberty.
Its a simple theory one that speaks to our rugged individualism and healthy skepticism of too much government. And that theory fits well on a bumper sticker. Heres the problem: It doesnt work. It has never worked. It didnt work when it was tried in the decade before the Great Depression. Its not what led to the incredible post-war boom of the 50s and 60s. And it didnt work when we tried it during the last decade.
http://thinkprogress.org/economy/2011/12/06/383348/trickle-down-economics-doesnt-work-obama-asserts-in-economic-speech/
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"Elizabeth Warren Simplifies Thomas Piketty: 'Trickle Down Doesn't Work. Never Did'" [View all]
applegrove
Apr 2014
OP
It doesn't really help the 1%, either. A prosperous economy would enrich them a lot more.
tclambert
Apr 2014
#9
I hate to disagree with her, but for those that introduced it, Trickle Down works
rhett o rick
Apr 2014
#3
I have some pretty crazy stuff stuck in my brain (and a lot of good stuff forgotten) but
rhett o rick
Apr 2014
#18
Never forget Zelda, ie Sheila Kuehl, current candidate for LA County Board of
Bluenorthwest
Apr 2014
#31
I had forgotten him. I do remember Ms. Weld tho. She was my second true love.
rhett o rick
Apr 2014
#60
"Data shows that the 1% own approximately the percentage of everything that they did in
bvar22
Apr 2014
#50
"The 'trickle-down' theory: the principle that the poor, who must subsist on table scraps ... "
baldguy
Apr 2014
#8
For most Republicans that's the way it should be.. they totally don't understand the real problem.
DCBob
Apr 2014
#25
Truth Telling you won't hear from the TheTruth©, Inc. Thanks, Elizabeth Warren!
freshwest
Apr 2014
#11
Now as our people in poverty & middle class slip well below!, other '1st world' Nations' one would
Sunlei
Apr 2014
#17
Trickle down has always worked for the short term for a few up until the the start of wide spread
geretogo
Apr 2014
#32
You only find dispair if you are invested to the concept of never ending growth....
Spitfire of ATJ
Apr 2014
#45
What a godless, un-American commie! Doesn't this Liberal harpie know that giving money
Nanjing to Seoul
Apr 2014
#63