The most insidious thing about trickle-down economics is not the claim that if the rich get richer, everyone is better off. It is the claim made by those who oppose any increase in the minimum wage that if the poor get richer, that will be bad for the economy. This is nonsense.

Economists argue about the relative impact of immigrants versus robots on wage stagnation - voters don't care much. They blame immigrants. It's easier to get mad at a person from Macedonia or Mexico, taking your job than it is to get mad at a piece of technology from Silicon Valley.

Building new roads and bridges creates jobs. Growing our exports creates jobs. Reforming our outdated tax system and our broken immigration system creates jobs.

In order to deal with all the medical cost demands and other challenges in the U.S., as we look to raise that revenue, the rich will have to pay slightly more. That's quite clear.

How very popular to say, 'spend more on this, expend more on that.' And of course, we all have our favorite causes; I know I do. But someone has to add up the figures. Every business has to do it, every housewife has to do it, [and] every government should do it.

Capitalism is not an 'ism.' It is closer to being the opposite of an 'ism,' because it is simply the freedom of ordinary people to make whatever economic transactions they can mutually agree to.