More stupidity from Al Wrote:
-------------------------------------------------------
> Al needs to open a history book. He also needs to
> read more than Drudge and Breitbart. The
> dismissal of facts by these idiots makes you want
> to throw in the towel for the future of this
> nation.
>
> Low taxes don't spur growth. A 65-year study
> concluded it.
>
http://www.theatlantic.com/business/archive/2012/0
> 9/tax-cuts-dont-lead-to-economic-growth-a-new-65-y
> ear-study-finds/262438/
>
> Some excerpts:
>
> "In 1990, President George H. W. Bush raised
> taxes, and GDP growth increased over the next five
> years. In 1993, President Bill Clinton raised the
> top marginal tax rate, and GDP growth increased
> over the next five years. In 2001 and 2003,
> President Bush cut taxes, and we faced a
> disappointing expansion followed by a Great
> Recession."
>
> "Analysis of six decades of data found that top
> tax rates "have had little association with
> saving, investment, or productivity growth."
> However, the study found that reductions of
> capital gains taxes and top marginal rate taxes
> have led to greater income inequality"
>
> "Well into the 1950s, the top marginal tax rate
> was above 90%. Today it's 35%. But both real GDP
> and real per capita GDP were growing more than
> twice as fast in the 1950s as in the 2000s. At the
> same time, the average tax rate paid by the top
> tenth of a percent fell from about 50% to 25% in
> the last 60 years, while their share of income
> increased from 4.2% in 1945 to 12.3% before the
> recession."
>
>
> Taxes are not "the highest ever" like some of the
> rightie lunatics claim.
>

>
> The rich are getting richer though. Good for you
> if you are extremely wealthy I guess.
>

>
> But by all means, keep believing Rush, Cantor,
> Boehner, and McConnell when they say we need lower
> top rates. They figured out what 65 years of
> evidence disagrees with. A theory that the GOP
> has pushed for the last 30 years with no success
> to show for it. On top of it, I'm amazed by how
> many people who probably make $40k a year are
> concerned about the top tax rate. If you have
> never noticed, you aren't in the same tax bracket.
> You probably have zero capital gains, but think
> the capital gains tax will put you in the poor
> house.
And then you post a biased third-hard sourced article from the Atlantic. lmao
Here are some other excerpts which you conveniently left out...
"Does this story prove that raising taxes helps GDP? No. Does it prove that cutting taxes hurts GDP? No."
The NYT article intentionally misrepresents many of the conclusions of the CRS study and selectively presents only those aspects that support the position which it advocates.
For example, below:
"Analysis of six decades of data found that top tax rates "have had little association with saving, investment, or productivity growth."
That doesn't mean that overall tax rates don't. Or that corporate tax rates don't. Why would anyone expect that *productivity* growth would be affected since such investments don't relate much in any way to productivity. Likewise, most at that level are fully invested and don't rely on savings and to the extent that they might affect other groups, that influence is far overridden by other factors.
As another, of course changes to cap gains affect those with investments more at a *relative* level since they have more investments. You'll note that their gains parallel those of the markets/economy overall. Others also benefit in the same way. The change in relative percentage largely is irrelevant other than to class warriors like yourself. It has no real meaning or relationship to how well or not the remaining population is doing.
You might try reading the actual CRS study instead of what you were told to think it says.