They have convinced many Americans that the way to a healthy economy is to give give tax cuts and other breaks to big corporations. They told us that that extra money given to rich corporations would trickle down to the rest of the country, and everyone would benefit.
But the problem with that theory is that nothing trickles down. The rich just get richer, and no one else benefits. That's because money doesn't trickle down in a capitalist economy like ours -- it flows upward.
Here's is how former Labor Secretary Robert Reich describes the three big myths supporting the failed trickle-down economic policy:
So don’t fall for trickle-down nonsense. Making big corporations and the rich even richer through tax cuts and regulatory rollbacks doesn’t make the rest of us better off. It just makes big corporations and the rich even richer.