If it wasn't for COVID-19 , the "strawman's" trickle down economics would have worked.
Prior to COVID, the nation had its lowest unemployment rate in history, with every minority group in the US, it brought wages up for most of the middle class America, it brought prices down, because manufacturing was being brought back to America, from automobiles, to medical research, to every technological research and development, to oil, gas and energy production.
Even the minority groups such as the blacks were prospering.
Example: You never seen hardly any blacks in the Republican Party, even on internet platforms until after 2017. (Many of these blacks were people that were prior Democrats, and we're talking about thousands of them.)
These "facts" no one can deny, or you're delusional if you do, which many people imo were and are. And I am and have always been a Democrat. These are just my observations as a University American Studies Major, and also a current financial specialist, who understands the financial world quite well.
However, once COVID hit, I kept telling everyone on this type of platform that Trump was doomed. It didn't matter what happened, (I even bet money on Biden), no standing president in American history that ever went through an economic downfall where the unemployment went to double digits ever won, they all lost. And Trump would be no different. When he lost, it was no surprise to me.
However, without COVID, it would have been an entirely different story.
Looking at trickle down economics, it does work. Basically, to my view of trickle down economics, all it means is that you leave business alone, meaning you don't tax them, or very little, if you do tax them at all. You also take away many regulations that constrict businesses so that they are free to operate their business systems accordingly.
The results are, if the business cannot make a profit, they are gone. If the business can make a profit, they usually end up growing and eventually make tons of profit, and this Trickles Down to the "employees" in the source for more jobs and higher wages.
That is basically what happened in the US from 2017 to the beginning of 2020. However, for the doubters out there, I use the "Scandinavian" example. The Scandinavian countries tried to go the Socialist route, and found it didn't work, and they changed back, using my definition above of the Trickle Down system.
Even the Scandinavian leaders have gone on tv to communicate that they are not Socialist. Their socialist system backfired, and they switched back. The Scandinavian countries have the same tax system on businesses and corporations that Trump incorporated into the US. It's about 20%. This keeps the most competitive and profitable companies operating in the Scandinavian countries, and most of them DO NOT have a minimum wage at all.
However, the Scandinavian countries have seen that their employees are pretty much ALL well paid, and those countries are very well off and prosperous. Biden and the US should take careful note, Trumpinomics = Scandinavianomics.
They both operated similarly and they both worked. Where these 2 countries differ is on the other side of the equation. This is where the differences lie.
Scandinavian countries have free medical, free education (for its citizens only), and are given many liberal things. Homelessness is pretty well non existent. The difference is the way the citizens are taxed.
Scandinavian countries follow the "TRICKLE DOWN " economics on the business side, they tax everybody from the rich to the poor at quite a high level, and they don't give you exemptions or deductions. It's a set percentage. Everybody pays about 30% on their wage taxes. Plus they pay a 15% VAT (national sales tax), plus they pay a whole slew of other taxes to help pay for their programs.
AND they don't tax the rich above what they tax the middle class and the poor. Everyone contributes. So , it's not about trickle down economics by itself. It's imo, a usage of different contributory areas, a little bit of trickle down economics for the business side, and flat taxes for the entire populace, that imo covers the entire picture.
From that, programs that take care of its citizenry. And yes, all the monies from the taxes go to the "centralized" government, who operates all of these programs in the Scandinavian countries. So, imo, and according to 'MY" definition of trickle down economics as written above, trickle down works.