Here’s Pope Francis, from today’s WaPo, holding forth on economic policy:
“Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world,” Francis wrote in the papal statement. “This opinion, which has never been confirmed by the facts, expresses a crude and naive trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system.”
“Meanwhile,” he added, “the excluded are still waiting.”
For years I and many others have documented how trickle-down is unsubstantiated bunk that exacerbates inequality, leaving the “excluded” behind. And yet such arguments still dominate in DC tax policy debates: cut taxes on the wealthy and the benefits will lift the poor! It’s the touchstone of the Ryan budget and has been the platform for every Republican presidential candidate since at least Reagan.
I have no idea what kind of impact such truth-to-power writings from this very wise Pope will have. But I’m awfully interested in finding out.