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
57 terrible consequences of the sequester cuts that the GOP is allowing to kick in next week.
Bitter pill: why medical bills are killing us.
Oops: GOP senator accidentally gets behind Roe v. Wade.
Laura Bush supports marriage equality, she just doesn’t want anyone to know.
One top senator’s latest racist excuse for opposing the Violence Against Women Act.
The public takes President Obama’s side on major issues we need to deal with.
Anti-spending GOP reps wants taxpayer funds to turn George W. Bush’s boyhood home into a national park.
GOP rep won’t support pathway to citizenship because he wants to keep immigrants in “the dirtiest jobs.”
Austerity: still failing.