Republicans have for the longest time stuck to the mantra that tax cuts for the wealthy was the ideal and most effective way to stimulate the economy and create jobs. This has traditionally been known as ‘trickle down economics’ This of course is a theory that is so far out there that President Bush Sr. famously called it ‘Voodoo Economics.’
From the dpcc.senate.gov: “a nonpartisan report has found that there is no evidence that tax cuts for millionaires and billionaires leads to improved economic growth.The report also found that tax cuts for the wealthy increase income disparities.”
It had been coupled with the idiotic Grover Norquist pledge of not ever raising taxes, to give the country a sort of one/two punch that essentially tied government’s hands behind their back and thus prevented the economy from ever performing at its best.
The analysis was conducted by the nonpartisan ‘Congressional Research Service. They used tax policy and GDP patterns to do a comprehensive comparison and came up with this startling discovery which Bush Sr. and everyone and his uncle who were not Republican, had already figured out; that it did not work and it was just a scam by the rich to get richer at the expense of the poor and middle class of the country.
The Sept. 14th 2012 report was released for a short time…long enough for the Republicans to realize that it undermined their tax scam for the wealthy, before they had it taken down.
Here is the original report, re-posted by the DPCC.
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