"From the Middle Class Out"
Creating an Economy That Works for Everyone
For the last thirty years, we’ve been experiencing one long, failed experiment in so-called trickle-down economics. In practice, this means that the rich have gotten richer (exponentially so) while the middle class has fallen further and further behind. Trillions of dollars in tax cuts for the wealthiest Americans and corporations, the one goal that binds the GOP together, utterly failed to trickle down, stifled economic growth, and contributed to the worst economic crisis since the Great Depression.
We need a different model — an economy that grows from the middle class out. What does this mean? How does that work? One of our colleagues, Senior Economist Heather Boushey, lays it all out in a new video:
BOTTOM LINE: The wealthy and corporations simply aren’t paying their fair share so in order to reduce our deficit in a smart way and still make investments in the middle class, we need to get rid of hundreds of billions of dollars in wasteful loopholes and giveaways in our tax code.
Evening Brief: Important Stories That You Might’ve Missed
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