The current GOP tax plan is the party's third edition of supply side (trickle-down) economics in the past 30 years.
In 1986, the Reagan tax plan reduced taxes for the top 5 percent of taxpayers, or "job creators," and reduced the corporate tax rate from 41 percent to 35 percent. Result? For the next 10 years, workers' wages and benefits declined.
The 2002 George W. Bush tax cuts for the "job creators" resulted in a net job loss for the next seven years and the worst financial crash since the Great Depression.
In 2005, the Securities and Exchange Commission published a 10-year study of the distribution of corporate profits. They found that during the period studied, the percentage of profits dedicated to worker wages decreased by 4 percent and investor dividends increased by 4 percent. During the same period, worker productivity increased by 80 percent.
What further evidence do we need to show that in modern economic history, no iteration of trickle-down economics has resulted in improved wages or significant job creation. In fact it has made the rich richer and the poor poorer.
Some recent comments by GOP congressmen admitted that passage of this bill is necessary to secure their donor base.