Tax cuts for the wealthy only benefit the rich (2023)

Research analyzing major tax cuts for the wealthy across 18 developed nations over five decades found that the rich became wealthier while unemployment and economic growth remained largely unaffected, contradicting "trickle-down economics" theory. The study, which gained widespread attention following the UK's 2023 political crisis triggered by unfunded tax cuts, challenges the long-standing argument that cutting taxes on top earners stimulates job creation and wage growth for lower-income workers.