Former Secretary of Labor Robert Reich debunks the three big myths that trickle-down economics is based on.

Watch More: 12 Myths About Taxing the Rich ►►

To the extent the Republican Party has any economic platform at all, it’s trickle-down economics. Unfortunately for the GOP, it’s based on three giant myths.

Myth #1: Tax cuts for corporations and the rich create more and better jobs. Wrong.

Myth #2: Tax cuts for big corporations and the rich spur economic growth. Wrong again.

Myth #3: Deregulation spurs economic growth. Not a chance.

So don’t fall for trickle-down nonsense. It's nothing more than a cruel hoax to make the rich even richer.