Congressional Research Service

Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study


What do you do when the Congressional Research Service, the completely non-partisan arm of the Library of Congress that has been advising Congress—and only Congress—on matters of policy and law for nearly a century,produces a research study

Mitch McConnell is as obstinate as a Kentucky tree stump! This is all he knows how to do. Obama’s mandate and the people will win over Mitch’s  ego.

 that finds absolutely no correlation between the top tax rates and economic growth, thereby destroying a key tenet of conservative economic theory?

If you are a Republican member of the United States Senate, you do everything in your power to suppress that report—particularly when it comes less than two months before a national election where your candidate is selling this very economic theory as the basis for his candidacy.

Initially released on September 14, 2012, the study—authored by Thomas Hungerford who is a specialist in public finance at the C.R.S.—correlated the historical fluctuations of the highest income tax rates and tax rates on capital gains dating back to World War II with the economic growth (or lack of the same) that followed.

The conclusion?

Lowering the tax rates on the wealthy and top earners in America do notappear to have any impact on the nation’s economic growth.

FULL ARTICLE

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“The report Mitch McConnell doesn’t want you to see”


THE RACHEL MADDOW SHOW

Congressional Research Service: Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945 (pdf)

See earlier coverage by Steve Benen:

THE EVIL THAT IS MITCH McCONNELL OF kENTUCKY

CONCLUSION OF REPORT?  TAX CUTS FOR THE RICH DON’T CREATE JOBS! MITT ROMNEY NO LONGER HAS A REASON TO LIVE!

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