Guest Blogger - Politics Plus ...preparing for the US Election
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The nonpartisan Congressional Research Service (CRS) issued a report in September that showed that cutting tax rates for the wealthiest Americans did not spur economic or job growth, refuting a key Republican justification for the party’s continued obsession with maintaining the tax cuts for the wealthy they passed in 2003. But when Senate Republicans aired seemingly minor complaints about it, the agency quietly withdrew the report , even as its economic team advised it to stand firm.
The report, as ThinkProgress reported in September, found that tax cuts for the rich spurred income inequality , not economic growth. “There is not conclusive evidence, however, to substantiate a clear relationship between the 65-year steady reduction in the top tax rates and economic growth,” the report stated. “However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution.”
The withdrawal came after Republicans like Senate Minority Leader Mitch McConnell (KY) aired minor quibbles about language the report used that he viewed as “ politically freighted ”… [emphasis added]
That report should NEVER been withdrawn. I don’t care how much Bought Bitch Mitch gets his panties in a bunch and snivels. The people have a right to know! You can read the report here.