United States of America (USA) President Joe Biden has stated that his government is focused on the bottom up economic model.
In a tweet on Tuesday, September 20, the 46th President of the US said that he was tired of trickle-down economics maintaining that it has never worked.
“I am sick and tired of trickle-down economics. It has never worked. We're building an economy from the bottom up and middle out,” President Biden stated.
The US president is going contrary to the trickle-down economics that has dominated in the US in the past decades which centred on the big corporations and the wealthy who created job opportunities.
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The economic model involves lowering taxes to aid the big companies run business smoothly for money to trickle down to the ordinary citizens which in many cases did not work out well.
However, in the bottom-up approach, Biden is focused on investing in the middle class by creating more opportunities for the ordinary citizens to contribute to the economy and raising taxes for the wealthy.
President William Ruto has been championing the bottom-up economic model during his campaigns, adding that the trickle-down economic model has failed.
"The Bottom-Up Agenda is the most emphatic plan for economic growth, agricultural transformation and the empowerment of ordinary Kenyans," President Ruto tweeted on July 1.
The Kenyan Head of State previously lauded the US president’s move to use a bottom-up approach maintaining that it brings all Kenyans on board in building the economy.
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