Tax Cuts Don't Lead to Economic Growth, a New 65-Year Study Finds

[Thepaindispenser]

Originally Posted by Danzig

i didn't read the study...but i do know that as taxes have decreased for the wealthy over the years, job growth has also suffered. the wealthiest are paying less in taxes than any time in the last 80 years-kind of disproves the trickle down theory.
think about it. your amount of money grows, your taxes are lower-so who needs tax shelters? no cost to you if you let your money just sit and grow. used to be those with money would use it and put it to work-no incentive for that now.

To me it is difficult comparing tax rates from the 1940's and 1950's to today as we were paying down war debt but more importantly after the devastation of World War II in Europe and Asia, socialists winning all over Western Europe, and communism taking over Eastern Europe and China, despite high US tax rates, we were the only game in town as our infrastructure was the only one left from industrial countries that was still intact. You either manufactured in the US and paid high tax rates or you did nothing.

I don't think trickle down applies in today's world as jobs and investments can easily be shifted to almost any where in the world, especially to those with tax friendlier environments. We have the highest corporate tax rates in the world and real unemployment over 11%.

I definitely don't think raising tax rates to give a bunch of corrupt, elitist politicians more money to give to their big donor pals, especially corrupt public sector unions.