US President Joe Biden has a new economic theory called Bidenomics.
Bidenomics focuses on the middle class. In a talk, Biden speaks about the good things that Bidenomics does. It is important to help the middle and bottom parts of the economy. Raegan uses trickle-down economics when he is the president. It means that rich people pay lower taxes. Biden thinks that this hurts the middle class. To get money for Bidenomics, the president wants rich people and big companies to pay their fair part of taxes.
Three important things about Bidenomics are spending money on public things, helping workers get better jobs, and making sure companies compete fairly.
Difficult words: theory (a set of ideas), middle class (the group of people between the very rich and working classes), tax (money which people pay to a government).