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