Trump and the congressional Republicans, with their new tax plan, are still trying to sell the old failed trickle-down economic policy -- the idea that giving more to the rich (through huge tax cuts for businesses) will benefit everyone. They say the rich (through their businesses) will then share that extra wealth in the form of new jobs and higher wages.
But they have been promising that for decades now, and all the policy does is make the rich richer -- with virtually nothing trickling down to the masses. This policy has always failed to deliver in the past, and it won't work now either.
Here is how economist Josh Bivins describes it in an op-ed for The Hill: