According to his advisers, the theory – ridiculed by Hillary Clinton as “Trumped-up trickle down” – harks back to the 1980s, when Ronald Reagan sought to stimulate wealth creation with tax cuts. This new ideological battle, between Reaganomics and Clintonomics, exploded last week at a debate in Washington between two economic veterans. “This is a very fundamental difference between trickle-down economics and bottom-up economics,” said Gene Sperling, who was director of the National Economic Council during the Bill Clinton administration and is now an economic adviser to the Hillary Clinton campaign. “We believe that a stronger middle class is what leads to greater economic growth. Photograph: Bill Pugliano/Getty Images“I do believe you can have 4% private sector growth because that’s what happened under Bill Clinton,” he said.

Source: The Guardian October 03, 2016 11:07 UTC