Obama: Supply Side Economics Is A ‘Theory’ That ‘Has Never Worked’
While speaking at a campaign event in Poland, Ohio today, President Obama dismissed supply-side economics as “theory” that “has never worked.”
Obama said, “Their basic idea is that if we spend trillions of dollars more on tax cuts — most of the benefits going to some of the wealthiest individuals in the country — so the average millionaire gets a $250,000 tax break. Even if we’ve got to gut education to do it, even if we’ve got to cut job training programs to do it, even if we’ve got to increase middle-class taxes to do it. If we cut trillions of dollars in taxes and we eliminate regulations, all kinds of regulations.