President Biden regarded Republicans within the eye and destroyed trickle-down economics with the world watching.

Video:

The President mentioned:

Whenever you hear somebody say that they don’t wish to elevate taxes on the wealthiest 1% and on company America – ask them: whose taxes are you going to boost as a substitute, and whose are you going to chop?

Have a look at the large tax lower in 2017.

It was purported to pay for itself and generate huge financial progress.

As a substitute it added $2 trillion to the deficit.

It was an enormous windfall for company America and people on the very high.

As a substitute of utilizing the tax financial savings to boost wages and spend money on analysis and growth – it poured billions of {dollars} into the pockets of CEOs.

The truth is, the pay hole between CEOs and their employees is now among the many largest in historical past.

In accordance with one examine, CEOs make 320 occasions what their common employees make.

The pandemic has solely made issues worse.

20 million People misplaced their jobs within the pandemic – working- and middle-class People.

On the similar time, the roughly 650 Billionaires in America noticed their web value improve by greater than $1 Trillion.

Let me say that once more.

Simply 650 individuals elevated their wealth by greater than $1 Trillion throughout this pandemic.

They’re now value greater than $4 Trillion.

My fellow People, trickle-down economics has
by no means labored.

It’s time to develop the economic system from the underside up and middle-out.

Joe Biden destroyed the lie that Republicans have been utilizing for many years to chop taxes for the rich and firms on the expense of everybody else.

President Biden is constructing an economic system for the remainder of America and the highest one p.c pays their justifiable share.

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