President Biden recently claimed that "trickle-down economics" doesn’t work but transferring wealth from taxpayers to politically connected people is the real trickle-down economics.
Original Article: "Government Redistribution Is the REAL Trickle-Down Economics"
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On April 6, 2023, President Joe Biden’s Twitter account sent the following message: “Trickle-down economics doesn’t work.” Trickle-down economics is a phrase that is often thrown around negatively to ridicule those who believe that the free-market system is the best way to regulate the economy. “Trickle-down theory” was never coined by economists, and the term has two possible origins, both of which were meant to discredit those who wanted less government involvement in the economy. It’s an ironic term as well because those who shout that “trickle-down economics doesn’t work” seem to be zealots in the belief that higher taxes paid to the government on all levels will trickle down and eventually benefit everyone.
What Is Trickle-Down Economics?
Because the term
President Biden pushes a wealth tax as a measure of "fairness." Not only is it unconstitutional, but it’s also bad for the economy.
Original Article: "Biden’s Wealth Tax Is a Trojan Horse Requiring Multiple Manipulations"
This Audio Mises Wire is generously sponsored by Christopher Condon.
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While no one expects politicians to be honest, one of the biggest lies that comes from President Joe Biden, members of his party, and those who echo their messages is that “the rich pay less taxes than you.” This crafted statement is designed to stir up emotions at the expense of facts in order to drive popular opinion to support a wealth tax despite its unconstitutionality and lack of support when first proposed in 2020 by Elizabeth Warren, who was decisively defeated during the Democrat primaries that year.
Manipulation 1: Lying through Omission
“The rich pay less taxes than you” creates an image of a Wall Street CEO paying fewer actual dollars annually than a McDonald’s manager. But when authors of articles and politicians make this statement and present the
