But the first paragraph refutes the headline: "Allowing income tax rates to rise for wealthy Americans would not hurt U.S. economic growth much (emphasis added) in 2013 ..." The CBO did not say, as the headline suggests, that raising taxes on the rich has no negative economic effect. In fact, the CBO actually said that extending the Bush-era rates for all would increase economic growth by 1.5 percent. If, however, the Bush era rates expired for the rich -- but...
I have a news flash for you Larry. New York State's Comptroller announced that NY's 'anticipated' (read budgeted) tax receipts are below estimates while expenditures are above estimates. What a surprise, and such a nice surprise for a deep blue state that just voted 2-1 for Barhama and bigger government, plus for single party rule (Democrat) at the state level. Life must be good in the Blue State of NY. Business must be up and unemployment must be down because the state budget is doing so great. Good luck to all those happy people who are living large with FEMA's help. Life is good. Reality is bad.
Consider this headline from a Reuters article in The Huffington Post: "Raising Taxes on Rich Won't Hurt Economic Growth, CBO Says."
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