It is one of the most frequent anti-free-market arguments made by pro-government extremists: that libertarian free-market advocates believe in a “trickle down theory” of economics—a notion that easing taxes (“giving tax breaks to the rich” in the words of government trusters) will let some wealth trickle down to the poor.
According to legendary economist and author Thomas Sowell, the “trickle down theory” strawman is one of the most effective smears by pro-government extremists. Sowell, one of the earth’s most foremost authorities on economic theory, says he has never met a single economist who actually believes in such a theory.
“Certainly none of the innumerable fellow economists I have encountered in my 88 years ever advocated any such theory. Nor am I aware of anyone else, in any other walk of life, who has done so.”