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Trans-Pacific trickle-down economics

Trans-Pacific trickle-down economics

Have we learned nothing from more than 30 years of failed trickle-down economics?

By now we should know that when big corporations, Wall Street and the wealthy get special goodies, the rest of us get shafted.

The Reagan and George W. Bush tax cuts of 1981, 2001 and 2003, respectively, were sold to America as ways to boost the economy and create jobs. They ended up boosting the take-home pay of those at the top. Most Americans saw no gains.

In fact, the long stagnation of American wages began with Reaganomics. Wages rose a bit under Bill Clinton, and then started plummeting again under George W. Bush.

Trickle-down economics proved a cruel hoax. The new jobs...