President Obama, amazingly, talks as if he dislikes "trickle-down ideology." This is amazing because his entire economic program involves giving money to big businesses in the hope this money will trickle down. Liberal blogger Matt Yglesias put it well when Obama was pushing his "new economic patriotism" during the campaign. If you want to help the working class, Yglesias wrote:
Taxing doctors in order to subsidize factory owners ("invest in manufacturing") so that they'll hire some waitresses to go become factory workers seems like an exceptionally roundabout way of accomplishing the goal. I use the image of "feeding the horses to feed the birds," and point out that Obama's subsidies for Boeing, Pfizer, General Electric, and Archer Daniels Midland are more deserving of the name "trickle-down" than flattening out the tax code is…..To Read More….