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Why'd the GOP bother to suppress research findings that we can tax outrageously

Posted: Nov 3, 2012

Romney's economic plan is built around continuing the flow of national wealth to a few, but he could always have just claimed it didn't. Or announced he actually was for taxing the wealthy, or whatever. You know, whatever kept his various constituencies loyal for just another 6 weeks.

The information in this report isn't a revelation to economists, it's the source that gives it new impact: The nonpartisal Congressional Research Service exists to provide Congress the information it needs to make decisions.

Now they have a scandal on their hands--suppressing an official CRS report that could make all the difference if it was brought to the attention of voters before election day: that 30 years of GOP financial policy has sacked an entire nation to serve the wealthy.

;

Congressional Research Service Report Link - bootstraps

[ In Reply To ..]
The CRS is a nonpartisan arm of the Library of Congress.

I posted the link to the entire report, but here is the conclusion:

"Concluding Remarks
The top income tax rates have changed considerably since the end of World War II. Throughout
the late-1940s and 1950s, the top marginal tax rate was typically above 90%; today it is 35%.
Additionally, the top capital gains tax rate was 25% in the 1950s and 1960s, 35% in the 1970s;
today it is 15%. The average tax rate faced by the top 0.01% of taxpayers was above 40% until
the mid-1980s; today it is below 25%. Tax rates affecting taxpayers at the top of the income
distribution are currently at their lowest levels since the end of the second World War.
The results of the analysis suggest that changes over the past 65 years in the top marginal tax rate
and the top capital gains tax rate do not appear correlated with economic growth. The reduction in
the top tax rates appears to be uncorrelated with saving, investment, and productivity growth. The
top tax rates appear to have little or no relation to the size of the economic pie.
However, the top tax rate reductions appear to be associated with the increasing concentration of
income at the top of the income distribution. As measured by IRS data, the share of income
accruing to the top 0.1% of U.S. families increased from 4.2% in 1945 to 12.3% by 2007 before
falling to 9.2% due to the 2007-2009 recession. At the same time, the average tax rate paid by the
top 0.1% fell from over 50% in 1945 to about 25% in 2009. Tax policy could have a relation to
how the economic pie is sliced—lower top tax rates may be associated with greater income
disparities."

These billionnaires are greedy and unpatriotic. - sm

[ In Reply To ..]
So, yeah, let's put one in the White House. (NOT!)

The one IN the White House has failed on EVERY policy - take my chances with the rich guy.nm

[ In Reply To ..]
nm

He has had many successes IN SPITE of the - Republicans. sm

[ In Reply To ..]
This could have been an even more successful presidency if the Republicans would stop acting like 2-year-olds and stop steaming in their hatred for Obama.

Big insult to my tiniest grandson. Those guys are unprincipled, - power-hungry villains. nm

[ In Reply To ..]
x

You must be talking about Pelosi, Reid, Frank, and others - backwards typist

[ In Reply To ..]
From day 1 of Obama's presidency, he promised NOT to listen or be bipartisan and Pelosi and Reid just idolize the man to a such a degree that it's sickening. I watched his inauguration and I thought Pelosi was gonna jump out of her seat and kiss him right there and then.

They just followed by example. I seriously wish you Obama worshipers would look up his voting record from the Senate and from Chicago...but nope, not interested because you might find something you truly wouldn't like and that would hurt your feelings.

What? LOL Obama had 2 full years to do whatever - he wanted, and he made it all worse ! nm

[ In Reply To ..]
nm

including the current tax code? - bootstraps

[ In Reply To ..]
Our current tax code, under the Obama Administration, and therefore an Obama Administration policy, is exactly what this report is talking about.

The rich currently pay lower tax rates than the middle class, the consequences of which are stated in this study conducted over almost 3 decades.

So I guess we agree that this is definitely a policy failure that has continued through the Obama Administration.

Proof of the excessive power of money in Washington. - Did you think that was just Dem whining?nm

[ In Reply To ..]
x

Unpatriotic? - The Sarge - sm

[ In Reply To ..]
It's unpatriotic to say someone else is unpatriotic.

Billionaires are not the only ones that are greedy. Politicians who won't step down for the better of the country are greedy. They prefer to reap in the benefits and perks at our expense.

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