Tax Cuts For The Rich Don’t Lead To U.S. Economic Growth, But Income Inequality: Study

Posted on September 23rd, 2012 in News and Commentary

Tax Cuts For The Rich Don’t Lead To U.S. Economic Growth, But Income Inequality: Study

From the INTERNATIONAL BUSINESS TIMES:

A key difference between the economic agendas of President Barack Obama and his Republican opponent Mitt Romney hinges on whether tax cuts should be granted to the wealthiest Americans. Obama and the Democrats are calling for higher taxes on the wealthy to reduce the deficit and fund spending, while Romney and the GOP are advocating lower marginal tax rates for upper-income groups, saying they fuel investment and job creation.

A new study from the Congressional Research Service – a non-partisan government group that provides analysis to Congress – will likely fuel the already bitter political fight.

The report concludes that tax cuts for the rich don’t seem to be associated with economic growth and instead are linked to a different outcome: greater income inequality in the U.S…

Click here to read the full article.

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One Comment on “Tax Cuts For The Rich Don’t Lead To U.S. Economic Growth, But Income Inequality: Study”

  1. Anonymous

    Wait just a minute. Am I supposed to believe that members of congress, who apparently are unable to read (let alone understand) legislation before voting on it, will understand this report? Ha Ha Ha.

    There is no chance the proposed Obama taxes will have any meaningful effect on his trillion dollar deficits. All of us are heading for a rude awakening in a few months regardless of who is president.

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