In Wednesday nights address to a joint session of Congress, Joe Biden claimed that trickle down economics of the Reagan era did not work, and have never worked. I guess the only question left, is why did Joe Biden vote in favor of “trickle down economics”?
The Daily Caller reported: “But Biden voted in favor of Reagan’s 1981 Economic Recovery Tax Act, HR 4242 and the subsequent 1986 tax reform plan, HR 3838, both of which lowered individual and corporate tax rates and introduced a series of other reforms to the tax code.”
Biden now wants to increase taxes on the wealthy in order to make them pay “their fair share”.
Is it because Joe Biden is simply a mouth piece? Like an impressionable child simply hearing what his parents say and repeating without actually understanding the concept?
After the address Governor Chris Christie claimed that Joe sounded like a kid who was handed a credit card, only his words came from the mouth of an adult who “should know better”.
Biden is simply appealing to what he believes people want to hear.
He also dedicated some of his time to minimum wage. He said that we should increase the federal minimum wage to $15/hour.
Biden has displayed that he has no concept whatsoever of how cost of living works. The cost of living varies from county to county, and state to state. That is why historically minimum wage has largely been left up to states to decide.
Slapping a one size fits all solution simply will not work. It will designate the economies of areas where the cost of living is moderate to low.