Robert Reich Slams Republicans Over ‘Trickle-Down’ Economics, Calls Theory a ‘Hoax’ That Enriched America’s Richest 1%

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Former U.S. Labor Secretary Robert Reich called trickle-down economics "a hoax," saying wealth and power have accumulated with the richest 1%. In a post on X on Sunday, Reich said Republicans in Washington have told Americans for decades that tax cuts "would trickle down to workers." Don't Miss: A single bad hire can set a startup back years. Here are the 5 hires founders most often misjudge — and why Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast "Instead, wealth and power have accumulated in the hands of the richest 1% at the expense of the rest of us," he wrote.