The Republicans have been sticking to their "trickle-down" theory for decades now (assuring Americans that if we give more to the rich, it will trickle down and everyone will benefit). And their economic policy has worked -- for the rich, fattening their bank accounts. But it has not worked for the middle and working classes because none of that extra money given to the rich actually trickles down.
Now they have a new tax plan -- a plan that gives huge tax cuts to the rich and the corporations. Once again, they are telling us that the money will trickle-down to the rest of us (in the form of jobs and higher wages). They are lying. Trickle-down didn't work in the past, and it won't work in the future, because money doesn't trickle down in our economy -- it flows upward.
Here is what former Labor Secretary Robert Reich has to say about the newest version of trickle-down:
Trump and conservatives in Congress are planning a big tax cut for millionaires and billionaires. To justify it they’re using the oldest song in their playbook, claiming tax cuts on the rich will trickle down to working families in the form of stronger economic growth.