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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.
Another blow to the 'trickle-down' propaganda crap we've been subjected for decades now. Wise up people. Read and learn and educate thyself.
Study: Tax Cuts for the Rich Don't Spur Growth - Yahoo! Finance
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.
Another blow to the 'trickle-down' propaganda crap we've been subjected for decades now. Wise up people. Read and learn and educate thyself.
Study: Tax Cuts for the Rich Don't Spur Growth - Yahoo! Finance
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.
Growth in the US economy between April and June has been revised downwards. Gross domestic product (GDP) in the second quarter grew at an annual rate of 1.3% in the second quarter, down from the previous estimate of 1.7%. One of the reasons for the cut was the worst drought for 50 years, which cut farm inventories, the Commerce Department said.
Analysts said that the figures available for the third quarter suggested even slower growth. Figures on Thursday showed that demand for long-lasting manufactured goods, known as durable goods, fell sharply in August. Official figures showed that durable goods orders fell 13.2% in the month, although that was mainly due to a big fall in orders for commercial aircraft.
Fed action
The GDP revision was the third estimate of the figure - the first estimate was 1.5% annual growth. About half of the downward revision was due to declining farm inventories. There was also slower consumer spending and less export growth than previously thought. On a quarterly basis, US GDP grew 0.3% in the second quarter. "Anyone voicing doubt about the need for the Fed's recent stimulus must surely be silenced by the surprising weakness of the data now coming out of the US," said Chris Williamson, chief economist at Markit. "More light will be shed on growth momentum at the end of the third quarter with the PMI releases next week, but the data flow so far suggest that we should be prepared for GDP growth to have slowed further from the 1.3% annualised rate seen in the second quarter."
Earlier this month, the US Federal Reserve announced a further attempt to help the economic recovery by restarting its policy of pumping money into the economy via quantitative easing. The Fed pledged to buy $40bn (£25bn) of mortgage debt a month, with the aim of reducing long-term borrowing costs for firms and households. The Fed said that the quantitative easing programme was open-ended and would continue until the US economy showed signs of recovery.
BBC News - US economy grows less than thought
By this logic, tax rate increases do not spur growth either. You arguing to keep tax rates exactly where they are? Or is this just another class warfare tactic you're advocating?
Another blow to the 'trickle-down' propaganda crap we've been subjected for decades now. Wise up people. Read and learn and educate thyself.
Study: Tax Cuts for the Rich Don't Spur Growth - Yahoo! Finance
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.
Study: Tax Cuts for the Rich Don't Spur Growth
The Housing BUBBLE, The Fed kept interest rates extremely low.... low interest rates....borrowing was cheap...people borrowed on the perceived increase in their home's value and spent it....it worked, until the BUBBLE BUST....and thus, main reason for our situation we are in now....Wonder how they explain the economic growth we got from 2003-2007 from the Bush tax cuts? Or the economc boom that followed the Reagan cuts in the early 1980s. I would also say that the economic growth we had under Clinton was not due to his tax hikes but rather inspite of them. But - we didn't really need the Gingrich tax cuts, the economy was doing fine.
Another blow to the 'trickle-down' propaganda crap we've been subjected for decades now. Wise up people. Read and learn and educate thyself.
Study: Tax Cuts for the Rich Don't Spur Growth - Yahoo! Finance
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.
Here's the link to the Congressional Research Service's report that clearly shows tax cuts don't lead to economic growth. By the way. the Congressional Research Service is a non-partisan think tank for Congress!
Promised link: http://graphics8.nytimes.com/news/business/0915taxesandeconomy.pdf
Well there goes the main theme of the R & R plan to the economy going, down the drain. It's Bullshit!
The Housing BUBBLE, The Fed kept interest rates extremely low.... low interest rates....borrowing was cheap...people borrowed on the perceived increase in their home's value and spent it....it worked, until the BUBBLE BUST....and thus, main reason for our situation we are in now....Wonder how they explain the economic growth we got from 2003-2007 from the Bush tax cuts? Or the economc boom that followed the Reagan cuts in the early 1980s. I would also say that the economic growth we had under Clinton was not due to his tax hikes but rather inspite of them. But - we didn't really need the Gingrich tax cuts, the economy was doing fine.
Study: Tax Cuts for the Rich Don't Spur Growth
You know, we really didnt need a study to figure that out
I answered Wiseacre's question: ''Wonder how they explain the economic growth we got from 2003-2007 from the Bush tax cuts?''The Housing BUBBLE, The Fed kept interest rates extremely low.... low interest rates....borrowing was cheap...people borrowed on the perceived increase in their home's value and spent it....it worked, until the BUBBLE BUST....and thus, main reason for our situation we are in now....Wonder how they explain the economic growth we got from 2003-2007 from the Bush tax cuts? Or the economc boom that followed the Reagan cuts in the early 1980s. I would also say that the economic growth we had under Clinton was not due to his tax hikes but rather inspite of them. But - we didn't really need the Gingrich tax cuts, the economy was doing fine.
What does any of that have to do with the progressive income tax? You just gave all the reasons this so-called "study" is bunk. There are always multiple things going on in an economy simultaneously. Trying to ping a particular event to a single cause is an exercise in futility.
Study: Tax Cuts for the Rich Don't Spur Growth
You know, we really didnt need a study to figure that out
True. You believe horseshit even without government funded propaganda.
I answered Wiseacre's question: ''Wonder how they explain the economic growth we got from 2003-2007 from the Bush tax cuts?''The Housing BUBBLE, The Fed kept interest rates extremely low.... low interest rates....borrowing was cheap...people borrowed on the perceived increase in their home's value and spent it....it worked, until the BUBBLE BUST....and thus, main reason for our situation we are in now....
What does any of that have to do with the progressive income tax? You just gave all the reasons this so-called "study" is bunk. There are always multiple things going on in an economy simultaneously. Trying to ping a particular event to a single cause is an exercise in futility.
thus my answer....the economic growth came from the housing boom, the housing bubble.....
Another blow to the 'trickle-down' propaganda crap we've been subjected for decades now. Wise up people. Read and learn and educate thyself.
Study: Tax Cuts for the Rich Don't Spur Growth - Yahoo! Finance
Here's the link to the Congressional Research Service's report that clearly shows tax cuts don't lead to economic growth. By the way. the Congressional Research Service is a non-partisan think tank for Congress!
Promised link: http://graphics8.nytimes.com/news/business/0915taxesandeconomy.pdf
Well there goes the main theme of the R & R plan to the economy going, down the drain. It's Bullshit!
Anyone who believes the "Congressional Research Service" is too stupid for words.
