Congressional Research Service Report On Tax Cuts

http://www.huffingtonpost.com/2012/...ch-service_n_2059156.html?utm_hp_ref=politics

The New York Times reported on Thursday that Senate Republicans applied pressure to the nonpartisan Congressional Research Service (CRS) in September, successfully persuading it to withdraw a report finding that lowering marginal tax rates for the wealthiest Americans had no effect on economic growth or job creation.
"The pressure applied to the research service comes amid a broader Republican effort to raise questions about research and statistics that were once trusted as nonpartisan and apolitical," the Times reported. Democrats in Congress, however, have resurfaced the report and published it in full. It can be read below.
Republicans told the Times they had issues with the tone, wording and scope of the report, but they clearly objected most strongly to its findings, which undermine the governing fiscal philosophy of the party, that tax cuts for the wealthy will spur growth and benefit everybody.
GOP officials told The Times that the decision by the CRS came after a cooperative discussion, but Democrats have suggested that the move is part of a broader effort by Republicans to squelch legitimate research that runs counter to their economic principles.
The CRS report, by researcher Thomas Hungerford, concluded:

The results of the analysis suggest that changes over the past 65 years in the top marginal tax rate and the top capital gains tax rate do not appear correlated with economic growth. 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. As measured by IRS data, 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. At the same time, the average tax rate paid by the top 0.1% fell from over 50% in 1945 to about 25% in 2009. Tax policy could have a relation to how the economic pie is sliced—lower top tax rates may be associated with greater income disparities.​

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DISCUSS

 

You haven't offered your opinion.

 

lol, what is your opinion.
what do you think about the findings in the report, etc.

 

I can't troll if you don't feed me.

 

But to the point, people who start threads usually state their purpose.

 

i have no purpose, just ask my wife.

 

It's the GOP way, the truth isn't in our platform so this must be silenced. Typical. Mitch McConnell needs to be black bagged, driven out of town and dropped off in the middle of nowhere buck naked with no money or phone.

 

I'm not reading it until you offer a stance to intrigue me.

 

A tax on anyone is a tax on everyone. It doesn't matter who pays the taxes, they end up hurting the poor the most.