Nov 12, 2012
In mid-September, the Congressional Research Service, an arm of the Library of Congress, released an interesting study. Is there any historical connection between tax rates on multi-millionaires, compared to rates of economic growth?
The researchers could not find any connection at all!
In other words, the campaign of lies that we hear daily, about how it will hurt the economy to tax the super-rich “job creators,” is proven to be total and complete baloney. The ultra-rich could be taxed very low, and it would not create any more jobs. Or, they could be taxed very high, and it would not kill jobs at all.
Everybody knows this, it’s only common sense. But if the Library of Congress proves it in black and white, that’s intolerable for those who represent the wealthy. The Republicans in Congress raised a huge outcry to get the study withdrawn. The Democrats didn’t rise to its defense. The study was officially withdrawn.
But, as Galileo once pointed out to a Pope, truth is truth, whether you silence it or not.