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...
We need a serious discussion about tax reform, quibbling about small cuts or increases isn't serious. Democrats are able to demagogue the issue because Republicans refuse to be serious. The tax code is corrupt. The rich don't pay high taxes, the middle class does. Obama is not proposing to raise taxes on the rich because the very rich support him. He is proposing to raise taxes on the middle class. 250 thousand and at the end of life a few million net worth isn't super rich. Buffet's 20 billion and Soros' 10 billion is rich and CEO's who pay themselves 100's of millions at stockholder expense mostly in options are also doing alright. Most of them also support Obama.
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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