Is it? I mean, yes, objectively I agree with you; the data and various economic analyses are clear; however, from the viewpoint of those benefiting from top-down economics, it's good. This explains deregulation, corporate lobbying, Fox News and the Republican Party since at least 1980. I think of it as Neo-Feudalism. What I find most irking is that it's more profitable short-term for a few to work against the public good than working to develop a stronger, healthier, more equitable society that benefits everyone! I imagine (with disdain) some day in the future when literacy is no longer taught because it doesn't create a direct profit; then literacy itself can become once again a class distinction. Oy Vey!
Top-down economics is a failed experiment.