Putting the trickle-down theory to bed

As I have argued in the past, trickle-down theory is bull. After a decade of wild market ups and downs and 2 huge tax cuts, a new Census Bureau report shows that median household income fell from $52k to $50k. That $50k is less than the income level from 1998, which was at $51k. Now, you could argue that 1998 was on the bubble upswing, and that last year's value is due to a result of the market crash, but I think that misses the fact that the Bush tax cuts are still in effect. Trickle-down theory states that giving rich people tax cuts allows them to take the money that would be taxes and to reinvest it in business and hire new workers. So where is this money going? It looks to me like it's staying at the top, with the top 1% of earners in the U.S. getting more than 27% of all income.