Tax Cuts Usually Lead to Higher Unemployment. Tax Increases Lead to Lower Unemployment. | BuzzFlash.org
take a look at this guys info compile of top tax rates and unemployment.
Higher top tax rates correlate with lower unemployment historically
YEAR TOP MARGINAL TAX RATE UNEMPLOYMENT RATE RESULT
1962 91 5.7 BASE YEAR
1963 77 5.2 Tax cut/ Unemployment down
1964 70 4.5 Tax cut/
Unemployment down
1967 70 3.8 BASE YEAR
1968 75 3.6 Tax hike/ Unemployment down
1969 77 3.5 Tax hike/ Unemployment down
1970 71.8 4.9 Tax cut/ Unemployment Up
1971 70 5.9 Tax cut/ Unemployment Up
1980 70 7.1 BASE YEAR
1981 69.1 7.6 Tax cut/
Unemployment Up
1982 50 9.7 Tax cut/ Unemployment Up
1986 50 7.0 BASE YEAR
1987 38.5 6.2 Tax cut/ Unemployment down
1988 28 5.5 Tax cut/
Unemployment down
1989 31 5.6 Tax hike/ Unemployment up
1992 31 7.5 BASE YEAR
1993 39.6 6.9 Tax hike/
Unemployment down
2000 39.6 4.0 BASE YEAR
2001 38.6 4.7 Tax cut/
Unemployment up
2002 38.6 5.8 BASE YEAR
2003
2010
35 6.0
9.8
Tax cut/
Unemployment up
The legacy of trickle down economics.
More wealth for the rich, fewer jobs for the rest of America.