How did this Report get Past Us?
Retrieved by Pat Darnell | Mar 25, 2013 | Bryan TX
As early as September, 2012, a report made by the Congressional Research Service, CRS, pointed out that taxes were not correlated to GDP in the way that Republican ideologues preach it. In fact the opposite was true.
The report was "taken down" before the elections in November, 2012. The report was re-published by Democrats HERE.
" ... The top income tax rates have changed considerably since the end of World War II. Throughout the late-1940s and 1950s, the top marginal tax rate was typically above 90%; today it is 35%. Additionally, the top capital gains tax rate was 25% in the 1950s and 1960s, 35% in the 1970s; today it is 15%. The average tax rate faced by the top 0.01% of taxpayers was above 40% until the mid-1980s; today it is below 25%. Tax rates affecting taxpayers at the top of the income distribution are currently at their lowest levels since the end of the second World War. (CRS. Thomas L. Hungerford. Specialist in Public Finance. September 14, 2012. HERE) ... "Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study - Forbes: "“The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.” (Rick Ungar, Contributor. 11.02.2012. HERE)"
'via Blog this'
"Lowering the tax rates on the wealthy and top earners in America do not appear to have any impact on the nation’s economic growth. (Ungar. ibid.)"
Apparently, solid, well researched data no longer matters—at least not when it comes to the Congressional Republicans. They got the report pulled, somehow. Republicans didn't like some of the wording: "Bush tax cuts" and reference to "tax cuts for the rich."
This is some real sad shit.
" ... While a spokesperson for the C.R.S. refused to comment on the discussions between the Senate Republicans and her agency, she did confirm that the report was no longer in ‘official circulation’. However, the New York Times reports that a source requesting anonymity confirmed that the decision to pull the study was done against the advice of the economics division and that the author, Mr. Hungerford, stood by the report’s findings. (Rick Ungar, Contributor. 11.02.2012 HERE) ... "
Republican tax strategy? Debunked; total failure.