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Wednesday, June 01, 2016

Are Tax Hikes on the Wealthy Bad for Growth?

I have something at MoneyWatch:

Tax hikes on the wealthy: Good or bad for growth?: Conservatives have argued for decades that tax cuts are the key to economic prosperity. And the tax plan presumptive GOP nominee Donald Trump is pushing would cut taxes for the top 0.1 percent of earners by an average of approximately $1.3 million per year, embracing that conservative point of view.
On the other hand, Democrats such as front-runner Hillary Clinton take another approach. Clinton says she'll reform the U.S. tax code so that the wealthiest pay their fair share. The response from Republicans has been predictable: They argue that such a tax plan will lower growth and harm the economy.
Do the conservative arguments against tax increases have any merit? Or are they, as Democrats claim, a way to serve an ideological goal of smaller government and reward wealthy Republican donors? Let's take a closer look. ...

    Posted by on Wednesday, June 1, 2016 at 06:58 AM in Economics, MoneyWatch, Taxes | Permalink  Comments (69)


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