Bidenomics – level 2
US President Joe Biden is introducing his economic theory called Bidenomics.
Bidenomics focuses on the middle class. It doesn’t agree with trickle-down policies, rules which help the rich, and as a result, the poor do better, too. In a speech, Biden said that Bidenomics was a good thing for America and emphasized growing the economy. Trickle-down economics involves tax cuts for the rich and large companies, but Biden believes it hurts the middle class.
Biden wants the rich and companies to pay their fair share of taxes. Three key points of Bidenomics are making public investments, supporting and educating American workers, and promoting competition.
Difficult words: emphasize (to show that something is very important), tax cut (when the government decreases the amount of money which people pay), competition (when a person or company is trying to win or be more successful than someone else).
You can watch the original video in the Level 3 section.
What are some of the potential criticisms of Biden's economic theory of Bidenomics?
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