Tired of trickle-down economics': Biden calls for expansion of unions in Labor Day speech

[Yo_Mama_Been_Loggin]

Joe Biden used a Labor Day speech in the battleground state of Wisconsin to endorse the expansion of unions, reiterating his election promises to be the “most pro-union president” in American history.

The US president argued in Milwaukee that a skilled, unionized workforce would help the US regain its place as a world leader in infrastructure and manufacturing.

Drawing on Franklin D Roosevelt’s explicit support for unions during the New Deal, Biden said: “I am encouraging unions … we need key worker protections to build an economy from the bottom up and middle out. I am sick and tired of trickle-down economics.”

Biden’s comments come amid a major resurgence for the labor movement in the US, with more support for unions than at any time in the past 60 years, especially as low-paid workers across a range of industries try unionizing.

https://www.msn.com/en-us/news/politics/tired-of-trickle-down-economics-biden-calls-for-expansion-of-unions-in-labor-day-speech/ar-AA11uWsn

[LetMyPeopleVote]

1. Trickledown economics/tax cuts do not work

There is no tax cut fairy and tax cuts for the rich do not work in the real world

Link to tweet

Tax cuts for rich people breed inequality without providing much of a boon to anyone else, according to a study of the advanced world that could add to the case for the wealthy to bear more of the cost of the coronavirus pandemic.

The paper, by David Hope of the London School of Economics and Julian Limberg of King’s College London, found that such measures over the last 50 years only really benefited the individuals who were directly affected, and did little to promote jobs or growth.

“Policy makers shouldn’t worry that raising taxes on the rich to fund the financial costs of the pandemic will harm their economies,” Hope said in an interview....

The authors applied an analysis amalgamating a range of levies on income, capital and assets in 18 OECD countries, including the U.S. and U.K., over the past half century.

Their findings published Wednesday counter arguments, often made in the U.S., that policies which appear to disproportionately aid richer individuals eventually feed through to the rest of the economy. The timespan of the paper ends in 2015, but Hope says such an analysis would also apply to President Donald Trump’s tax cut enacted in 2017.

“Our research suggests such policies don’t deliver the sort of trickle-down effects that proponents have claimed,” Hope said.