Republicans Trying to Hide this Study Showing Tax uts Do not help Economic Growth
The Nonpartisan Study On High-Income Tax Cuts The GOP Doesn’t Want You To Read
The nonpartisan Congressional Research Service (CRS) issued a report in September that showed that cutting tax rates for the wealthiest Americans did not spur economic or job growth, refuting a key Republican justification for the party’s continued obsession with maintaining the tax cuts for the wealthy they passed in 2003.[/b
But when Senate Republicans aired seemingly minor complaints about it, the agency quietly withdrew the report, even as its economic team advised it to stand firm.
The report, as ThinkProgress reported in September, found that tax cuts for the rich spurred income inequality, not economic growth. “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,” the report stated. “However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.”
The withdrawal came after Republicans like Senate Minority Leader Mitch McConnell (KY) aired minor quibbles about language the report used that he viewed as “politically freighted,” the New York Times reports:
Senate Republican aides said they protested both the tone of the report and its findings. Aides to Mr. McConnell presented a bill of particulars to the research service that included objections to the use of the term “Bush tax cuts” and the report’s reference to “tax cuts for the rich,” which Republicans contended was politically freighted.
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http://thinkprogress.org/?mobile=nc
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