What is “Trickle-Down Economics,” and Does it Work?
Op-ed by TheWiseOldFart In 1981 Ronald Reagan created a fiscal polity he titled, “Supply Side Economics.” It quickly became known as “Trickle-Down Economics.” His eight years in office were dominated by high unemployment rates and huge increases in the national debt. Unfortunately, his three Republican successors failed to learn from his mistakes and used the same policy. The result was, in 1992, Bill Clinton rescued Reagan and George H.W. Bush: In 2008, Barack Obama saved our economy from the failures of George W. Bush: and in 2020, Joe Biden prevented another Great Depression after the disastrous incompetence of Donald John Trump. WHAT IS “TRICKLE-DOWN ECONOMICS” The simplest definition of “trickle-down economics” is that it is based on an illusion. Republicans continue to offer a baseless claim that if the wealthiest Americans receive tax cuts and thrive, jobs will be created, and the overall economy will grow exponentially. Experience proves this theory is invalid beyond a reasonab