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The greatest trick that trickle-down economics ever pulled was its simplicity. The threats of trickle-downers are so easy to explain that even a child can understand them. You’ve heard this mechanistic warning again and again: If you raise wages, you kill jobs. If you raise taxes, you hurt job creators. If you regulate business, you kill growth. It’s easy to repeat, it’s easy to understand.
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And it’s entirely wrong. The fact is that the economic theory the Republican Party – and many Democrats – have accepted as gospel for the past 40 years turned out to be a pack of lies. But who ever let an inelegant little thing like reality intrude on an elegant economic belief system?
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For starters, the economy typically thrives under Democratic presidents and grows sluggishly when a Republican is in the White House. Yet, the American people still trust Republicans much more than they trust Democrats on economic matters. It is critical that we dispel the myth of Republican economic prowess – yet many Democrats are shying away from economic issues, when we should be shouting our positions from the rooftops.
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If Democrats are going to defeat Trump, we need a nominee who can run and win on the economy. After last night's debate, I want to know what this community thinks about our candidates. Will you vote now for which candidate you think is the strongest on the economy?
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So, how do Democrats and progressives demonstrate their deep understanding of how the economy really works? They create their own theory of growth rooted in reality and results. I recently gave a TED Talk (click here if you missed it) about a new economic model that rejects the premise of trickle-down theories.
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Here are the core policies I argue for:
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We raise the minimum wage and restore overtime protections.
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We give workers paid sick and family leave.
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We tax the super-rich and corporations.
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We invest in social programs.
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We own the economic debate.
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Presidential elections are often won or lost on the economy. So let’s talk economics, Democrats. We risk losing the presidential election if we let the economic myths of Donald Trump and his trickle-down friends go uncontested. Please make your voice heard now – vote for the Democrat you think has the best economic message.
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Thanks,
—Nick Hanauer
Founder
Civic Ventures
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