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May 1, 2021 - The Dan Bongino Show
05:28
The Bongino Brief - May 01, 2021

Joe Biden and the "Trickle-Down Economics" Hoax. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Dan Bongino.
Welcome to the Bongino Brief.
I'm Dan Bongino.
So we played this video yesterday of Joe Biden doing what every liberal Democrat and every, really every Democrat does, promoting the biggest economic hoax in the last hundred years.
It's been going around for a century.
The hoax of trickle-down economics.
You doubt me?
I'm sorry to replay this, but it's important in light of some updates I have for you.
Here was Joe Biden during his joint address where he again promotes the trickle-down hoax.
Check this out.
My fellow Americans, Trickle down.
Trickle down economics has never worked.
It's time to grow the economy from the bottom and the middle out.
Trickle down.
There we go again.
Now, I know many of you listening, some of you know I beat these things to death.
Like I used to beat to death the infamous Clinton surplus that never happened.
The Clinton surplus?
Clinton surplus is no such thing.
Remember that?
I used to get my older, you have to be an older listener.
I used to discuss it all things.
It drives me crazy.
It's just not true.
There's no Clinton surplus.
Ladies and gentlemen, I'm bringing this up again because it really...
I don't want to say it.
It pisses me off, if you get it.
There's no such thing!
There is no trickle-down.
Here's Thomas Sowell again.
We played this yesterday.
I'm playing it again today because it's going to be important.
Thomas Sowell saying, this is a total fairy tale.
There is no trickle-down.
Check this out.
Where does this phrase trickle-down come from?
Oh, I don't know.
It was as far back as the Roosevelt administration.
It is an incredible thing.
There is a non-existent theory that is constantly being attacked.
Some years ago in my newspaper column, I challenged anybody to cite any economist outside of an insane asylum who had ever made that argument.
Nobody ever, ever, ever came up with a single person.
So when Barack Obama says in this past July, quote, we were told that prosperity would- Ask him who told him.
Nobody told him.
Nobody told him.
No economist has ever held that, no politician has ever said it.
I don't know of anybody who's ever said it.
In fact, when I put this out and I went out, a nationally syndicated column. Various people wrote me and
said, "Well, so-and-so said that so-and-so said it." Find me the person who said it. I don't
want to hear how A said that B said.
Find me B and show me where he said it.
This Thomas Sowell is a legend. He is irreplaceable.
There are two words that are used inappropriately in the English language I hate.
I can't stand.
And I'm gonna say this in the opening of my radio show, May 24th, Monday, May 24th, when we start, so make sure you listen.
Two words, literally and unique.
People use them wrong all the time.
Literally when they mean figuratively, and they say unique when something's not unique.
Thomas Sowell is literally unique.
There's never another gonna be another.
There's no trickle-down.
He says it right.
Everybody goes, no, no.
Obama says, people tell us.
Nobody told you there is no trickle-down.
Here, you want the proof?
Hat tip again, Cole, who emailed me this last night or this morning.
Here's another leftist magazine, or semi-leftist magazine, trying to pretend trickle-down exists.
Here, headline.
Why trickle-down economics works in theory, but not in fact.
By Kimberly Amadio and Eric Estevez.
You may say, Dan, TrickleDown exists.
TheBalance.com is writing about it right there.
No, no.
Look at the footnote.
Look at the footnote.
This is important.
This goes to show you how liberals propagate myths and suckers believe it.
The first footnote.
Wharton School of Business.
Does trickle-down economics add up, or is it a drop in the bucket?
You're like, wow, trickle-down exists, Dan.
They said it in the headline, and they footnoted the Wharton School of Business.
So Cole was kind enough to actually go to the Wharton School of Business and read the article.
Here it is.
Does trickle-down economics add up, or is it a drop in the bucket?
Dan, Wharton's talking about trickle-down.
It exists.
Does it?
Because when you scroll down in the piece, you get this.
Awesome.
Many others have pointed out the folly of using the term trickle-down economics.
That no real economic model or serious school of thought stands behind what has long been a term of art at the intersection of politics and media.
Here's a professor from Wharton, Mr. Gomes here.
I have a little bit of a hard time with the terminology and the idea of trickle-down economics.
Although everyone in the popular press has a somewhat different characterization of what this means, this is not something we have tested or seriously theorized about as economists.
This is the greatest moment in the history of the Dan Pongino Show.
I know my standards may be low.
I'm sorry.
You know I love economics.
It's my passion.
There is nothing I like more than proving a point through liberals who think they're proving the opposite point.
There's no trickle down.
They write an article on trickle down and their first footnote is an article saying there's no trickle down.
This may be one of these things, I get it, that I think is funny and literally, literally, not figuratively, no other human being on the planet thinks it's funny.
Just me.
Just me.
It's unique to me.
But that's okay.
Great job, Cole.
Awesome.
The Dan Bongino Show.
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