This is absolutely true. Tax cuts for the rich is simply another version of the king who killed the goose that laid the golden eggs. The rich get a quick fix with tax cuts, but then the economy goes south because money poured into the pockets of the rich and then stuffed into offshore bank accounts dries up product demand. This is because product demand depends on spendable cash being in the hands of the average Jane and Joe. And so eventually when the economy collapses, as it general does in late Republican dominated governments, everybody loses.
And that is the basis for the wise old saying, if you want to live like a Republican vote Democratic. Unfortunately oftentimes average folks fall for those basic Republican memes of low taxes and smaller government because they seem like such common sense notions. Because, however, of the way macro economics works these memes are pure poverty producing nonsense.
Of course Republicans like Pence know this but it gets them votes, so who cares.