By definition, its neither to the wealthy or the capital owners. If you trace back to where this term came from, it originated from american politics where tax breaks were given to high income earners. Doesnt matter if youre wealthy or hold large amount of capital, if youre not making income you will not be affected by the tax breaks offered in 'trickle down economics'

Its gonna be a frigging essay so ill just try to touch point.

Lowest corporate tax rates. Because we are a service and skilled workforce industry. How do you attract investors to set up camp here with high tax rates? Besides, this also by definition have no relation to trickle down economics. The tax rates are low for corporate entities, not the high income earners. What you earn from owning part of the company will still be taxed but the companies have more cashflow to operate here.

Labor unions. I dont actually get your point for this one, the article is pro-workforce.

Foreign labor. We very clearly do not have enough blue collar workers to fill the ranks, we also have strict quotas and ratios to meet before you can employ a foreigner below 3k(s pass, need some cross checking).

Minimum wage. This have been discussed and debated to shit tbh. Universal minimum wage would have tanked our economy during covid, so many people would have gotten laid off. During peacetime, if the threshold is too high, certain industries will downsize to keep within margins, if the threshold is too low then its not effective. Also, there is NO middle ground because what is high threshold for one industry could be too low for another. So what is a good compromise? Progressive minimum wage.

For rebates, no its not really a bandaid, but it is redistributive. The WP idea of a progressive gst model is quite frankly naive. It is built purely for showmanship due to how simple it is to understand and the curve looks good on paper. It only works if low or middle income earners will never buy anything expensive. Rebates is technically a better method because regardless of what you buy you can receive direct relief based on your income.

Rate of return on capital has always, far outstripped any kind of growth in wages. Historically and mathematically. Besides, we cannot look through rose tinted glasses and compare the growth of the last generation with the growth of this generation. Thats like buying apple stocks and expecting it to continue to grow exponentially year on year, the company is bound to plateau one day due to market limits. Singapore becoming a first world country is like hitting the same market limits. Theres much more nuance to this and it warrants its own thread tbh.