Middle-Income Prosperity
President Biden claims that “Kamala and I wrote a new playbook that’s growing the economy from the middle-out and bottom-up” after “decades of trickle-down economics that primarily benefitted those at the very top.”
IN FACT, the only period of modern history in which wealth inequality declined was the 3 pre-Covid years of Trump’s presidency. Real median household cash income grew 8 times faster in this era than the first 3 years of Biden’s tenure:
“Trickle-down economics” is a slur against low taxes and free markets, which help low-income Americans to have a higher standard of living than most middle-income Europeans.