Taxing Rich Doesn't Hurt Economy: DNews Nuggets

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Raising Taxes on the Wealthy Has Never Hurt Economic Growth: The nonpartisan Congressional Research Service concluded a study this week that said, "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."

This result essentially debunks the Republican message that cutting taxes for the rich will be a boost for the national economy.

Based on the analysis, cutting taxes on the wealthiest citizens of the United States has "little association with saving, investment, or productivity growth," but instead simply increases income inequality.

The study looked at 65 years of U.S. tax policy with the goal to determine "whether or not there is an association between the tax rates of the highest income taxpayers and economic growth."

The report was released Sept. 14, 2012. As to whether it will affect the debate, only time will tell. via TPMDC

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