Robert Reich Slams Republicans Over ‘Trickle-Down’ Economics, Calls Theory a ‘Hoax’ That Enriched America’s Richest 1%
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." "Instead, wealth and power have accumulated in the hands of the richest 1% at the expense of the rest of us," he wrote. For decades, Republicans in Washington have told us that tax cuts would trickle down to workers. Instead, wealth and power have accumulated in the hands of the richest 1% at the expense of the rest of us. Trickle-down economics was never supposed to work. It was a hoax. — Robert Reich (@RBReich) October 11, 2026 "Trickle-down economics was never supposed to work," Reich said. "It was a hoax." Wealth Tax Push In a September Substack post, Reich argued for a wealth tax, saying taxing wealth itself could reach billionaires even in years when they report little or no taxable income. He pointed to Paris School of Economics professor Gabriel Zucman ’s work on wealth taxes and California’s proposed billionaire tax. Reich also said Jeff Bezos was "partly right" that doubling his taxes would n
S. Labor Secretary Robert Reich called trickle-down economics "a hoax," saying wealth and power have accumulated with the richest 1%. " "Instead, wealth and power have accumulated in the hands of the richest 1% at the expense of the rest of us," he wrote. For decades, Republicans in Washington have told us that tax cuts would trickle down to workers.
Instead, wealth and power have accumulated in the hands of the richest 1% at the expense of the rest of us. Trickle-down economics was never supposed to work. It was a hoax. — Robert Reich (@RBReich) October 11, 2026 "Trickle-down economics was never supposed to work," Reich said.
" Wealth Tax Push In a September Substack post, Reich argued for a wealth tax, saying taxing wealth itself could reach billionaires even in years when they report little or no taxable income. He pointed to Paris School of Economics professor Gabriel Zucman ’s work on wealth taxes and California’s proposed billionaire tax. Reich also said Jeff Bezos was "partly right" that doubling his taxes would not help a teacher in Queens, since Bezos paid no income tax in some years. 2% of national wealth in the first quarter this year.
He also cited comments from McDonald’s Corp. 5% for those at the 75th percentile. Bessent also accused Reich of "packaging falsehoods as fact" after the open letter. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.
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