This one is rich. There was never a theory called “trickle down economics.” That term was coined by Democrats who opposed the policies of Reagan. But trickle down referred to the idea that taxing the wealthy less would lead to economic growth as they would invest it in companies, thus “trickling down” to workers.
Ironically, this Biden plan is exactly like “trickle down,” except instead of wealthy people being allowed to keep more of their own money to invest, the Treasury will just give “community lenders” (i.e. banks) money to make loans. The banks don’t even need to pay it back!
These banks will, ostensibly, loan the money to small business owners (not workers) which tend to be the wealthier members of society. The idea is that this will make the business owners even more successful and wealthy, thus trickling down and helping workers. It’s government funded trickle down, i.e. fascism.
However, there won’t be much trickling, as $1.7B is less than a drop in the bucket on a national scale. It’s a PR move that will likely do next to nothing but generate a few headlines and memes.
https://www.chicagobusiness.com/finance-banking/over-dozen-community-lenders-among-recipients-grants
It’s funny to see the left use the same conspiratorial rhetoric as the right did a year ago regarding the jobs numbers being downwardly revised. So many on the right, who knew nothing of how the jobs numbers are calculated or why they revise them, were convinced the downward revisions were a conspiracy to help Biden win.
If people want to have a debate about the birth death model or the survey methods, ok, but that’s not what’s happening here. Most people are under the delusion that the BLS report is the govt reporting every job created and lost, and are thus easily swayed it’s rigged when it suits their political ends.
This is almost laughingly misleading, as it leaves out everything before the letter.
▪️After being repeatedly lampooned by the Smothers Brothers over Vietnam, Johnson finally had enough. One night at 3 am he called the head of CBS William Paley, demanding that he “get those bastards off my back.”
▪️Paley then asked the heads of CBS entertainment to get them to back off of LBJ. However, instead of backing off the Smothers Brothers doubled down, booking a folk musician performing “Waist Deep,” an anti-war song about a soldier being stuck in the mud while “the big fool says to push on,” clearly a dig at LBJ.
▪️At the last minute, CBS cut the song from the pre-taped show to the outrage of the Smothers. They continued to push the boundaries off and on for the rest of his presidency, with CBS sometimes cutting segments that they thought went too far. Basically, it was a soft form of censorship.
▪️It wasn’t until Johnson made his surprise announcement not to run in 1968 ...
