Wednesday, September 21, 2022 – President William Ruto is one happy man. This is after the United States of America (USA) President Joe Biden endorsed his bottom-up economic model.
In a tweet yesterday that has left Kenya Kwanza going bonkers, Biden stated that his government is focused on the bottom-up economic model.
According to the 46th US president, he was tired of trickle-down economics because 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.
Biden is going contrary to the trickle-down economics that has dominated in the US in the past decades which centered on the big corporations and the wealthy who created job opportunities.
The economic model involves lowering taxes to aid the big companies to 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 ordinary citizens to contribute to the economy and raising taxes for the wealthy.
Ruto has been championing the bottom-up economic model during his campaigns, adding that the trickle-down economic model has failed.
He has previously lauded Biden for embracing bottom-up economics.
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