Posted on 09/17/2012 4:27:59 PM PDT by sirchtruth
Cutting taxes for the wealthy does not generate faster economic growth, according to a new report. But those cuts may widen the income gap between the rich and the rest, according to a new report.
A study from the Congressional Research Service -- the non-partisan research office for Congress -- shows that "there is little evidence over the past 65 years that tax cuts for the highest earners are associated with savings, investment or productivity growth."
In fact, the study found that higher tax rates for the wealthy are statistically associated with higher levels of growth.
(Excerpt) Read more at finance.yahoo.com ...
But the Bush tax cuts were for everyone.
IT WORKS EVERYTIME IT IS TRIED... UNLIKE keynesian economics WHICH FAILS EVERYTIME IT IS TRIED. This is a non partisan group just like NBC, CBS and ABC are non partisan and unbiased.
LLS
Hauser’s Law shows that tax revenue as per cent of GDP is virtually constant at 19% regardless of the highest marginal tax rate. Even the 90% rates on the highest tax bracket in the 1950s, tax revenue was still just 19% of GDP. To increase tax revenue it is necessary to grow the GDP.
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Well, show us Sherlock since you're making the claim! You know good and well there is solid evidence against this B.S. research MSM report by the CRS.
The Left has a number of serious delusions which drastically affect their perception of reality. The idea that taxes have inelastic effects is just one of them.
The US taxing authorities mistakenly believe that tax increases will simply be followed.
Thus the call for ‘Tax Reform’, where the ultimate goal is to increase revenue. They need an office of Unintended Consequences.
Tax rates when it was 70% doesn’t equate to taxes paid. Only to study rates is illogical.
Speaking of entrepreneurs....
Here’s a little expose on the Obama administration’s effect on our main driver of growth and jobs....
http://www.hudson.org/index.cfm?fuseaction=publication_details&id=9252
New Study: Startup Job Creation Collapses Share on facebookShare on google_plusoneShare on facebook_likePress Release
September 13, 2012
by Hudson Institute
WASHINGTON—Data from the U.S. Department of Commerce indicates a continued and accelerating collapse of startup job creation in recent years. A new economic policy briefing paper from Hudson Institute, The Collapse of Startups in Job Creation, takes a close look at this troubling trend and concludes that entrepreneurship in the United States is in a parlous state.
Brilliant! I can put that one to good use.
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