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Trickle-down economics is a term used in critical references to economic policies to say they disproportionately favor the upper end of the economic spectrum, i.e., wealthy investors and large corporations. In recent history, the term has been used broadly by critics of supply-side economics. Major US examples of what critics have called "trickle-down economics" include the Reagan tax cuts, the Bush tax cuts, and the Tax Cuts and Jobs Act of 2017. Major UK examples include Liz Truss's mini-budget tax cuts of 2022. As of 2023, a number of studies have failed to demonstrate a link between reducing tax burdens on the upper end and economic growth.