Barack Obama on Economic Patriotism
on Sunday, July 27, 2014Barack Obama Money Quotation saying in his weekly address that US corporations shouldn’t be able to avoid paying taxes due to tax loophole. Barack Obama said:
“Rather than double-down on the top-down economics that let a fortunate few play by their own rules let’s embrace an economic patriotism that says we rise or fall together as one nation and as one people” — Barack Obama
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In this quote, Barack Obama is contrasting two different economic philosophies. He refers to “top-down economics” as an approach that benefits “a fortunate few” by letting them “play by their own rules” without oversight or regard for broader consequences.
Obama advocates embracing instead an “economic patriotism” where the nation’s shared well-being is prioritized over the interests of any one group.
He suggests this alternative means recognizing that all citizens are interconnected, so if some rise or fall economically, it ultimately affects everyone.
The quote conveys Obama’s view that a system allowing unchecked privilege to a select few is not in the spirit of national unity and collective prosperity, and that true patriotism requires an economy where all people can thrive together rather than some prospering at the expense of others.