The assertion that "trickle-down economics didn't work" is based on critical analysis and historical outcomes.
Why does this fail to work
Proponents of this view argue that policies favoring the wealthy fail to deliver broad-based economic benefits for society. Issues cited include:
Wealth Concentration: Such policies tend to concentrate wealth among the rich, exacerbating income inequality without benefitting the broader population.
Limited Economic Growth: The promised economic growth doesn't consistently translate into improved prosperity for middle and lower-income groups.
Job Creation and Wages: Tax cuts for the wealthy may not significantly stimulate job creation or lead to higher wages for workers.
Economic Instability: Trickle-down economics is associated with economic instability and financial crises due to inadequate regulation and unequal wealth distribution.
Empirical Evidence: Historical data and economic studies often fail to demonstrate the promised broad-based economic benefits.