BOSTON, October 27, 2014- Last Friday, at a campaign event for Massachusetts’ Democratic gubernatorial candidate Martha Coakley in Boston, Hillary Clinton slipped up and revealed what many have always known to be her true views towards capitalism and free markets.
During her stump speech Clinton stated, “Don’t let anybody tell you that it’s corporations and businesses that create jobs. You know that old theory, trickledown economics. That has been tried, that has failed. It has failed rather spectacularly. One of the things my husband says when people say, ‘What did you bring to Washington?’ He says, ‘I brought arithmetic.’ ”
Trickle down economics, also known as supply-side economics, is the theory at the heart of capitalism and free markets. The economic principle encompasses the theory that cutting taxes and lessening the amount of business regulations will in turn free up capital and enable businesses to grow, businesses which will in turn hire more employees and stimulate the economy.
Clinton joins the ranks of several other democrats who have slipped up in speeches and revealed their true feelings towards capitalism. In a 2012 campaign speech, President Barack Obama famously stated, “You didn’t build that” in relation to small business owners in America.
This is also not the first gaffe Clinton has made herself. In June of this year while promoting her latest book Clinton famously made the claim that she and her husband, former President Bill Clinton, were “dead broke” when they left the White House. The claim was rated as “mostly false” by PolitiFact.com.
The former Secretary of State is expected to be a contender in the 2016 Presidential race though she has yet to announce her candidacy. Clinton is largely expected to receive the Democratic nomination for the presidency in 2016 if she announces her campaign.
You can watch the full clip of Clinton’s remarks here.