pantslessprogressive: “Apparently, conservatives believe that a key driver of overall job growth is the tax rate that rich people pay on their last dollar of income. They argue that these very rich people are the ones who “create” the jobs and therefore taxing them at even slightly higher rates will make them less likely to invest, expand their businesses, and hire more people. That sounds plausible, but it turns out to be completely baseless. In fact, they are just as wrong about this as they are about the relationship between marginal tax rates and overall economic growth. In the past 60 years, job growth has actually been greater in years when the top income tax rate was much higher than it is now.” - Michael Linden, Center for American Progress

pantslessprogressive:

“Apparently, conservatives believe that a key driver of overall job growth is the tax rate that rich people pay on their last dollar of income. They argue that these very rich people are the ones who “create” the jobs and therefore taxing them at even slightly higher rates will make them less likely to invest, expand their businesses, and hire more people. That sounds plausible, but it turns out to be completely baseless.

In fact, they are just as wrong about this as they are about the relationship between marginal tax rates and overall economic growth. In the past 60 years, job growth has actually been greater in years when the top income tax rate was much higher than it is now.” - Michael Linden, Center for American Progress

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Notes

  1. leahtheliberal reblogged this from pantslessprogressive
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  7. titletownprogressive reblogged this from rantingnraging
  8. antithestasia reblogged this from methodsofabstraction and added:
    To quote Stephen Colbert, “Reality has a well-known liberal bias.”
  9. rantingnraging reblogged this from stfuconservatives
  10. tptigger reblogged this from lielabell
  11. lielabell reblogged this from brooklynmutt
  12. leahclaire reblogged this from lostgrrrls
  13. lostgrrrls reblogged this from brooklynmutt and added:
    OK, please look at that infographic because this is important to keep in mind. Also, I think a huge part of the problem...
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  15. gleeksfalllikedominoes reblogged this from thefremen
  16. remembermylastpetunia reblogged this from captain-sonic
  17. captain-sonic reblogged this from thefremen
  18. thefremen reblogged this from cambiaron and added:
    It’s much easier to convince...they don’t know their history or facts.
  19. cambiaron reblogged this from temporallyfixed and added:
    “Apparently, conservatives believe that a key driver of overall job growth is the tax rate that rich people pay on their...
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  24. restoringtally reblogged this from temporallyfixed and added:
    Never in a million years will I understand why so many people believe that we need to protect the rich from being taxed....
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