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
Just incredible. After posting a meme blaming Charlie Kirk for his own murder, they post another a few hours later applauding Democrats for their civility.
Also, if you look at the Occupy Democrats timeline, their posts “denouncing political violence” were variations on “no one should be shot…BUT here’s a quote from Kirk showing he’s a terrible person.” Or sometimes they’d leave the first part out altogether and just attack him. There are no posts denouncing violence without qualifiers trying to gin up their base.
