While it is a controversial idea I think it has worked fine since the term was coined during the Regan years, I think in general wealth does trickle down from the very top to the bottom and everyone benefits, I think the system is not perfect but no economic system is ever perfect.
Trickle-down economics is good. This is because when the people who create money are allowed to keep more of it, they either invest, save, or spend it. Either way, it goes back into the American economy. It might be invested in stocks or a new company of their own. And if it is put into FDIC accounts, it is still being using by the economy for stability.
If my boss or the company I work for is so heavy burdened with taxes that they are in deficit, there is a large chance I may be fired or lose hours due to needed budget cuts.A company not only supports the economy with buying,selling or creating supplies, but also pays its employees who pay the economy by buying things they need.In my belief, if my boss can't afford me due to tax hikes I will not be a plus to economy.If my boss does good, it trickles to me, and I spend more, more money for them more money I spend on the economy.
The evidence all points to this not working. And think about it, really think about it and you realize it is just wishful thinking to think that would work.
Cut taxes on the wealthiest and sure some wealthy people will work harder, but more are likely to work less because they just want a certain amount of money and they can now get it with less work.
And when they do spend their wealth whether it "trickles down" depends on what they are spending it on and how much their employees are being paid. Some wealthy people don't even want to spend their money. Ever hear of a "miser"? There are wealthy people who love nothing more than to look at their bank account and gush over how big the number is and so they never spend their money.
Trickle down economics might work if it was regulated, that is to say if instead of having an across-the-board tax cut companies were rewarded with tax credits based on creating new, well-paying jobs.
The idea behind trickle-down economics is that if economic laws favor the wealthy, they will create job opportunities which will benefit the less wealthy. Unfortunately, time has shown that this does not work. Many wealthy people are primarily interested only in accumulating money rather than using much of it to create jobs. The jobs they do create tend to be low wage jobs that won't help someone support a family. Trickle-down economics is a complete failure.