Bidenomics – level 3
US President Joe Biden is introducing his economic theory, Bidenomics, which focuses on the middle class and rejects trickle-down policies.
In a speech, Biden highlighted the achievements attributed to Bidenomics and emphasized the importance of growing the economy from the middle and bottom. Trickle-down economics, associated with Reaganomics, involves tax cuts for the wealthy and large companies; however, Biden believes it has harmed the middle class. To fund Bidenomics, the president aims to ensure that the wealthy and corporations pay their fair share of taxes.
Three key principles of Bidenomics include making public investments, empowering and educating American workers, and promoting competition. However, Biden faces challenges in gaining public support for his economic agenda.
Difficult words: trickle-down (the theory that the poorest in society gradually benefit as a result of the increasing wealth of the richest), empower (to make someone stronger and more confident), agenda (a list of things to be considered or done).
You can watch the video news lower on this page.
What challenges does Joe Biden face in promoting his economic agenda?
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