Bill Clinton: “Well, that's what they did. That's what their 12-year economic policy was all about. That's what trickle-down economics…”

“Well, that's what they did. That's what their 12-year economic policy was all about. That's what trickle-down economics was based on, that if you just lower taxes on the wealthy enough and when you have to increase them, increase them on the middle class, and that upper income people, when they get all the economic gains, will then reinvest it, create jobs, and raise incomes. It didn't work. It has never worked in the history of the country. I want to emphasize, I do not want to punish success. This is not what this is about. I want to reward success. My plan has real incentives for small business, for new business, for new technology. I want to reward success, and I want people to make a lot of money. But we have to have a fair tax system, and this plan should require the vast majority of the new revenues to come from people with incomes above $200,000 because they're the ones that got the benefits of the 1980's.”