Wednesday, July 11, 2007

Tax Cuts For Fun And Profit

Fun and profitable for your corporation maybe. From them commies at the CBPP (07.11.07), via Carpetbagger:
"With the fourth anniversary of the 2003 capital gains and dividend tax cuts just past and the Office of Management and Budget’s Mid-Session Review released today, supporters of making these tax cuts permanent are reiterating their claim that the tax cuts boosted the economy and increased federal revenues.

For example, a release from the Senate Republican Policy Committee contends that the tax cuts 'contributed to today’s strong pro-growth economy' and 'have also led to a surge in tax receipts' and that allowing these tax cuts to expire as scheduled would 'have devastating consequences for the economy.'"

The Effects of the Capital Gains and Dividend Tax Cuts On the Economy and Revenues

"Claims like these raise three basic questions. First, has the economic and revenue growth of the past few years really been unusually strong? Second, are there good reasons to think that the capital gains and dividend tax cuts caused whatever economic and revenue growth has occurred, as opposed to just coinciding with it? Third, would extending these tax cuts boost economic and revenue growth on a longer-term basis?"

"The last four years of data, as well as some important new academic research, suggest that the answer to each of these questions is No."

Charts and graphs and citations. It's all there to back 'em up.

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1 Comments:

Anonymous Anonymous said...

The Government (our taxes) funding of the war(s) has nothing to do with growing economy. (Military industrial complex, oil give aways, etc.) PAY NO ATTENTION TO THAT MAN BEHIND THE CURTAIN!
pt.

7:08 AM  

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