Nonpartisan Study: No Proof That Tax Cuts For Wealthy Lead To Economic Growth

Padawanbater2

Padawanbater2

Well-Known Member
In a rebuke to long-held Republican economic theory, a nonpartisan report has found that there is no evidence that tax cuts for millionaires and billionaires leads to improved economic growth.The report also found that tax cuts for the wealthy increase income disparities.

The analysis, conducted by the Congressional Research Service, compared tax policy with GDP patterns over the last 65 years. The report's findings undermine a central tenet of Republican party orthodoxy on taxes.

The report was first released in September but was removed from public circulation shortly thereafter, apparently after pressure was applied by Senate Republican leaders.

We are re-posting the report here, in its original form, so that it receives the unfiltered exposure it deserves as a nonpartisan analysis.

http://www.dpcc.senate.gov/?p=blog&id=193

Here's the actual study;

http://www.dpcc.senate.gov/files/documents/CRSTaxesandtheEconomy Top Rates.pdf

Thoughts?
 
Dr Kynes

Dr Kynes

Well-Known Member
what of the corrollary? do tax increases on the wealthy lead to economic growth or is this just a leftist fable?

does this study dismiss the laffer curve?

what point of taxation do they determine to be "optimal" (sorry barrack) for economic growth?

that post on the senate's blog is mighty partisan, powerfully bitter and makes assumptions and presumptions as to the reasons any study might be removed from publication.

i have little confidence in this, even less since the PDF wont open.
 
UncleBuck

UncleBuck

Well-Known Member
Dr Kynes said:
what of the corrollary? do tax increases on the wealthy lead to economic growth or is this just a leftist fable?

does this study dismiss the laffer curve?

what point of taxation do they determine to be "optimal" (sorry barrack) for economic growth?
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awwww, so predictable.

same reply as when i started my thread.

"what's that? trickle down doesn't work? well, not trickle don't work neither, so waaaaahhhhhh!!!!!!!!!!! also, socialism!"
 
Dr Kynes

Dr Kynes

Well-Known Member
UncleBuck said:
awwww, so predictable.

same reply as when i started my thread.

"what's that? trickle down doesn't work? well, not trickle don't work neither, so waaaaahhhhhh!!!!!!!!!!! also, socialism!"
Click to expand...
which thread do you refer?

also, good that you escaped your captors buck. did they leave you on the side of the road, bound with electrical tape with your underpants inside out?

probably not, you still sound so unsatisfied.
 
Red1966

Red1966

Well-Known Member
Did it say anything about tax cuts (or increases) for the poor and the middle class? What about the non- millionaires still taxed at the highest marginal rates?
 
timbo123

timbo123

Active Member
Padawanbater2 said:
In a rebuke to long-held Republican economic theory, a nonpartisan report has found that there is no evidence that tax cuts for millionaires and billionaires leads to improved economic growth.The report also found that tax cuts for the wealthy increase income disparities.

The analysis, conducted by the Congressional Research Service, compared tax policy with GDP patterns over the last 65 years. The report's findings undermine a central tenet of Republican party orthodoxy on taxes.

The report was first released in September but was removed from public circulation shortly thereafter, apparently after pressure was applied by Senate Republican leaders.

We are re-posting the report here, in its original form, so that it receives the unfiltered exposure it deserves as a nonpartisan analysis.

http://www.dpcc.senate.gov/?p=blog&id=193

Here's the actual study;

http://www.dpcc.senate.gov/files/documents/CRSTaxesandtheEconomy%20Top%20Rates.pdf

Thoughts?
Click to expand...
My immediate thought when I read it was... I didn't need a study to know that. That's like spending resources and real energy doing a study to determine if farts stink.
OF course tax cuts on the wealthy don't create a great economy and of course they lead to income disparity!!! Rich bitch simply gets to carry around a $250,000 purse and one other rich bitch gets to put the $250,000 into her own bloated bank account for selling it to her... and one asian lady probably got paid $20 to stitch the fucking thing together... so there was one afternoon of employment that the transaction created.
 
timbo123

timbo123

Active Member
Red1966 said:
How bout you cut and paste all the pertinent parts for us? Come on, I know you want to.
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Red... with all due respect... did you even click the link? It is like one paragraph... the cutting and pasting and opining would be more for you to read than the link. :-o
 
tumorhead

tumorhead

Well-Known Member
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 real GDP growth rate averaged 4.2% and real per capita GDP increased annually by 2.4% in the 1950s. In the 2000s, the average real GDP growth rate was 1.7% and real per capita GDP increased annually by less than 1%.

There is not conclusive evidence, however, to substantiate a clear relationship between the 65-year steady reduction in the top tax rates and economic growth.

Analysis of such data suggests the reduction in the top tax rates have had little association with saving, investment, or productivity growth.

However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution. The share of income accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007 before falling to 9.2% due to the 2007-2009
recession. The evidence does not suggest necessarily a relationship between tax policy with regard to the top tax rates and the size of the economic pie, but there may be a relationship to how the economic pie is sliced.
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Tada.... you think taxes now are bad? We used to pay as we went. Costing a lot of money during war time.
 
Red1966

Red1966

Well-Known Member
Frankly, the biased terminology used tells me the source for his cut and paste post wasn't exactly unbiased.
Padawanbater2 said:
a nonpartisan report...... tax cuts for millionaires and billionaires...........tax cuts for the wealthy ................. apparently after pressure was applied by Senate Republican leaders.
Click to expand...


Padawanbater2 said:
apparently after pressure was applied by Senate Republican leaders.
Click to expand...
Where is the evidence of that?I don't download pdf files from untrusted sources as they can contain malicious software.
He cut and pasted the first part of his post
Padawanbater2 said:
We are re-posting the report here, in its original form, so that it receives the unfiltered exposure it deserves as a nonpartisan analysis.
Click to expand...
Why not the whole study?
 
UncleBuck

UncleBuck

Well-Known Member
Red1966 said:
Frankly, the biased terminology used tells me the source for his cut and paste post wasn't exactly unbiased.




Where is the evidence of that?I don't download pdf files from untrusted sources as they can contain malicious software.
He cut and pasted the first part of his post

Why not the whole study?
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dude, you called a compilation of 518 polls "biased".

you're an idiot. go back to stormfront.
 
hotrodharley

hotrodharley

Well-Known Member
Dr Kynes said:
what of the corrollary? do tax increases on the wealthy lead to economic growth or is this just a leftist fable?

does this study dismiss the laffer curve?

what point of taxation do they determine to be "optimal" (sorry barrack) for economic growth?

that post on the senate's blog is mighty partisan, powerfully bitter and makes assumptions and presumptions as to the reasons any study might be removed from publication.

i have little confidence in this, even less since the PDF wont open.
Click to expand...
Taxing the bastards to reduce deficits and increase revenues is enough. So yes, with a deficit that is shrinking and revenues increasing it makes money people happy.
 
tumorhead

tumorhead

Well-Known Member
Red1966 said:
Frankly, the biased terminology used tells me the source for his cut and paste post wasn't exactly unbiased.
Click to expand...
The Congressional Research Service (CRS) works exclusively for the United States Congress, providing policy and legal analysis to committees and Members of both the House and Senate, regardless of party affiliation. As a legislative branch agency within the Library of Congress, CRS has been a valued and respected resource on Capitol Hill for nearly a century.


CRS is well-known for analysis that is authoritative, confidential, objective and nonpartisan. Its highest priority is to ensure that Congress has 24/7 access to the nation’s best thinking.
http://www.loc.gov/crsinfo/
Click to expand...
Don't see how the source is biased...
 
hotrodharley

hotrodharley

Well-Known Member
"The rich are always going to say that, you know, just give us more money and we'll go out and spend more and then it will all trickle down to the rest of you. But that has not worked the last 10 years, and I hope the American public is catching on."
Warren Buffett
 
Red1966

Red1966

Well-Known Member
tumorhead said:
Don't see how the source is biased...
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What was your source? Who is the "we" in "We are re-posting the report here, in its original form, so that it receives the unfiltered exposure it deserves as a nonpartisan analysis."

"We" certainly is not the CRS.
 
Red1966

Red1966

Well-Known Member
hotrodharley said:
Taxing the bastards to reduce deficits and increase revenues is enough. So yes, with a deficit that is shrinking and revenues increasing it makes money people happy.
Click to expand...
Are you in favor of taxing yourself more "to reduce deficits and increase revenues" . That should be enough by your logic.
 
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