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Tech journalist since the dark ages. Windows Secrets, LangaList newsletter, Windows Magazine (NetGuide, Home PC), Byte, Popular Computing, yadda yadda yadda. Google me, if it matters.

This feed is mostly personal interest; it's NOT my professional writing. There's tech here, yes, but also lots of general science and some politics and weird humor thrown in.

Saturday, September 15, 2012

Congressional Research Service (CRS.gov) report on effects of tax cuts.

FYI: The Congressional Research Service (CRS) is part of the Library of Congress. It "works exclusively for the United States Congress, providing policy and legal analysis to committees and Members of both the House and Senate, regardless of party affiliation."
http://www.loc.gov/crsinfo/


From the new (Sept 14 2012) CRS report, "Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945:"

Analysis of such data suggests the reduction in the top tax rates have had little association with saving, investment, or productivity growth. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.

IOW; cutting taxes for the rich doesn't help the economy at all --- there's no "trickle down" or general benefit to society. It only helps the rich to get richer.


Full text:
Taxes and the Economy: An Economic Analysis of the Top Tax Rates Since 1945
http://graphics8.nytimes.com/news/business/0915taxesandeconomy.pdf