Jean-Pierre: ‘We Believe Reaganomics Doesn’t Work’

Jean-Pierre: ‘We Believe Reaganomics Doesn’t Work’

July 2, 2023

Joel Pollak at Breitbart News reports that White House Press Propagandist Karine Jean-Pierre declared recently at a White House press briefing, “We believe Reaganomics doesn’t work,” referring to former President Ronald Reagan, who ended a recession and brought rapid economic growth.

Asked about the use of the term “Bidenomics,” which the Biden team has begun using to tout his economic policies, Jean-Pierre blasted “trickle-down economics,” a theory popular with some conservative economists who advised Reagan, holding that tax cuts for the highest earners would benefit all.

Pollak writes,

When Reagan took office, the top marginal federal income tax rate was 70%. He cut it to 50% — a bigger cut than Donald Trump would later enact — and signed more tax reforms over the two terms of his presidency.

The tax cuts were not the only reason that the U.S. economy took off under Reagan, but the economy certainly did expand, setting the stage for further growth in the 1990s, and inaugurating an era of broad prosperity.

Reagan’s economic policies did not only benefit the rich; they were so successful, in fact, that many Democrats supported Reagan when he cruised to reelection in a landslide in 1984, leaving the far left fuming in defeat.

Today, “trickle-down economics” is a pejorative term, used by the left to dismiss Reagan-era prosperity and to refer broadly to Republican policies — even when, as under Trump, they primarily benefit the middle class.

After Jean-Pierre finished her answer, the reporter pointed out that Reagan has been rated as one of America’s top ten presidents, and inaugurated an age of prosperity. She continued to attack “trickle-down economics.”

Meanwhile, the Biden economy has been characterized by persistent, high inflation.

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