Nonpartisan Study: No Proof That Tax Cuts For Wealthy Lead To Economic Growth
In a rebuke to long-held Republican economic theory, 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.
The analysis, conducted by the Congressional Research Service, compared tax policy with GDP patterns over the last 65 years. The report's findings undermine a central tenet of Republican party orthodoxy on taxes.
The report was first released in September but was removed from public circulation shortly thereafter, apparently after pressure was applied by Senate Republican leaders.
We are re-posting the report here, in its original form, so that it receives the unfiltered exposure it deserves as a nonpartisan analysis. Click here to read the study.