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Now I'm not saying the gold standard of education is memes, but if you look up some memes on Trickle Down Economics then you'll probably find everything you need to know about it (it's totally bogus)
I'm not in the US. I'm also not an economist. But I follow current events. The economy is a funny thing, it's normally pretty slow to move unless it's crashing. Poor policy promotes a crash.
Historically, what we've seen is that when the government changes hands and flips between Democrat/Republican, the government starts working to change the policy of the previous administration.
Often what ends up happening is that the Democrats inherit a poor economy from Republican policy, then work on turning it around. Then the Republicans get in power and claim that the economy is strong under them - while ignoring that it was growing under the previous administration. Then they start slashing social services, promote regulatory capture, and ultimately end up tanking the economy just in time for the Democrats to take over again. Then they point to the damage they've done and say it's the Democrats' fault.
Anyway, TL;DR: nope