United States President Joe Biden has said trickle-down economics is not working and has never worked for any country's economy.
The trickle-down theory states that tax breaks and benefits for corporations and the wealthy will trickle down to everyone else to spur economic development.
He said his administration will continue building the country's economy from the bottom up and middle out.
"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," he tweeted.
The bottom-up model was adopted by President William Ruto who anchored his campaigns on it.
He said the bottom-up economic model is a blueprint targeting to promote investments of ordinary Kenyans and empowering them financially so the country can generate taxes to spur the economy.
Responding to critics of his “hustler's economic model” Ruto said the trickle-down approach has failed because it bred cartels.
He said it has failed since it aids patronage and cronyism that breeds cartels and monopolies that benefit a few.
Ruto said the bottom-up economic framework is anchored on a programme that promotes investments and financial instruments that target millions who are unemployed, hustler enterprises, farmer groups and fishermen.
