Our blogging friend Jill wrote an excellent piece on the perils of Trickle down economics. A link is provided below. What follows are three comments I offered.
We have discussed the Tom Foolery of Trickle down economics several times before. As I recall, earlier research indicated there are five studies that conclude Trickle down economics does not work. The one that interested me most was done by the nonpartisan Congressional Research Service. In 2012, per an article in The New York Times, Senate leader Mitch McConnell had the report buried before the Mitt Romney/ Barack Obama election because Romney was touting, you guessed it, Trickle down economics.
Yet, very recent history tells us the state of Kansas almost bankrupted itself trying Trickle down economics and had to abandon plans or go under. This was about five plus years ago.
But, maybe the best symbolism is the name given to Trickle down economics in the 1890s. It was called the “Horse and sparrow theory.” What you feed the horse (the rich owners) is excreted out to feed we sparrows. The fact that we are eating excrement is as good a reminder of the folly of Trickle down economics.
It should be noted the Horse and sparrow theory was contrived during the aptly named Robber Baron period in America. What MAGA fans do not fathom is this heavy oligarchy period is what Trump and his cohorts want.
For those who question the above, ask yourself who benefitted the most from the 2018 Trump tax law? The answer is the wealthy and corporations. The middle class got squeezed and paid more taxes in states where they had heavier state and local tax.
Relating to the Trickle down theory, the crafters of the 2018 tax law were surprised how few a roomful of CFOs would reinvest the tax boon. Many bought back shares to prop up EPS rather than reinvest in their companies. Most wealthy people put tax benefits in their pocket, which is a key reason the law is less accretive to growth. You give a middle class or below person money and they will spend it. So, the tax bill gave a brief sugar rush to the economy then the economy fell back to previous levels before the pandemic put us in a recession.
musingsofanoldfart 
Thank you so much for sharing our comments and the link to my post, Keith! I greatly appreciate it! I just read where the Tesla Board of Directors approved a $46 billion pay package for Elon Musk … gee, I wonder how much of that will ‘trickle down’ to the people who actually build the cars?
Thanks Jill. Again, good post. I think Elon got $10 million more. Poor guy. Keith
Yep … $10 BILLION more. Poor guy, indeed … he’ll be on the streets beggin’ before you know it!
Keith, I truly thought every one knew, the “trickle down economy” makes the rich, richer and the poor poorer. Always has and always will.
There is an old saying “born a serf, you’ll die a serf”, nothing has changed.
Jon, it amazes me that people believe this horse manure, keeping with the Horse and sparrow moniker. I picture Lt. Columbo rubbing his eyes asking, so if I give you more money it will make ME better off? Keith
Note to Readers: One of my favorite misnomers is when business owners tout themselves as “job creators.” A venture capitalist on a Ted Talk debunked those claims. He asked the audience “Do you know what creates jobs? – Customers.”