Trickle-down economics is a theory that has been around for a long time, but it has lost credibility over the years. The premise suggests that benefits granted to the wealthy will eventually be shared with the rest of society. However, the reality is that increased income inequality has not led to economic growth, and many Americans have faced declining or stagnant wages.

What has been observed in recent times contradicts the principles of trickle-down economics. Instead of wealth flowing down from the top, the financial gains of the wealthy have often come at the cost of lower-income individuals. This trend highlights the flaws in the theory and suggests that economic policies favoring the rich can exacerbate inequality rather than alleviate it, as detailed by Joseph E. Stiglitz in his book, "The Price of Inequality."