The single most important sentence in Joe Biden's big speech
CNN
In the course of his address Wednesday night to a joint session of Congress, President Joe Biden said more than 6,000 words. But,11 in particular -- all part of a single sentence uttered toward the end of the speech, were the most important.
There are those words: "My fellow Americans, trickle-down, trickle-down economics has never worked." With that simple sentence, Biden sought to officially close the book on the dominant economic theory of the last 40ish years: That success by affluent people at the top of the economy would, eventually, trickle down to the average American. It's been the theory behind every major tax cut pushed by Republican presidents since Ronald Reagan -- including Donald Trump's 2017 cut -- and is so closely associated with our 40th president that the economic idea is known colloquially as "Reaganomics."
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