The "Trickle-Down" Zombie

The New York Times's Paul Krugman routinely decries what he calls “zombie ideas”—those that survive despite overwhelming contrary evidence. Senator Elizabeth Warren (D – Ma.) should take note. Her recent attack on conservative tax policy is one that has long lost its battle against facts.

On Wednesday, the senator averred:

The Republicans have a pretty simple philosophy: they say if those at the top have more — more power for Wall Street players to do whatever they want and more money for tax cuts than somehow they can be counted on to build the economy for everyone else. Well, we tried it for 30 years and it didn’t work. In fact the consequences were nearly catastrophic.