GOP Spin and Facts, Top Marginal Tax Rates edition

GOP SPIN:  Cutting the top marginal tax rate always leads to improved economic conditions for everyone!

FACTS:  That spin isn’t remotely close to being true.  If you haven’t been convinced by other articles on this topic, take a look at this historical analysis from the Center for American Progress.

 

Our current top federal individual tax rate (35%) has actually produced the worst economic growth since 1950.  Every time the tax rate has been higher than it is today, economic growth has been more robust.  Republican rhetoric on this issue is not backed by the facts.

Building a strong economy is about much, much more than just tax rates.  It’s also about making sure that we’re investing in critical priorities that serve as the foundation for private sector success.

Advertisements

Trackbacks/Pingbacks

  1. Can Macroeconomics Cure the Jobs Problem? | Stock Market News - Business & Tech News - July 11, 2011

    […] — 22.2 million between 1994 and 2000 — the top individual tax rate was 39% — four percentage points above where it’s been since 2001 — yielding 1.1 million jobs under George W. […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: