'President Joe Biden is framing his new, vaguely defined 'Bidenomics' as an alternative to what is widely referred to on the Left as 'trickle-down' economics. CNN has gone right along with this...' -Jack_Elbaum
“Trickle-down” economics is a caricature of supply-side economics, which indeed posits that economic growth is most likely to occur within an environment of low taxes and regulation. However, the idea that the wealth will merely “trickle down” to the rest of the population is nowhere to be found. So when liberals attack it, they are attacking a made-up version of their opponents' views. Nobody ever promised the money would eventually “trickle down.
wealth when businesses are less hampered by government controls or by increasing government appropriation of that additional wealth under steeply progressive taxation laws.", which suggests 1.) the amount of wealth in the economy is essentially unchanging, 2.) the only question is how we ought to distribute it, and 3.) one party’s gain is inherently another's loss.
We must approach economics with a different mindset entirely. The lesson of the past 200 years should be that with innovation and entrepreneurship comes better jobs, more wealth, and better material conditions for— not just those who themselves innovate.
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