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...
There are no Bush tax cuts. CONGRESS cut taxes. Bush's administration holds the record for ,most tax revenues collected three years straight. BNush had incressed tax revenues. BThe Bush administration also had DECREASING budget deficits. The last Bush with a Republican congress budget deficit was $161 billion. Pelosi, Reid Democrat controled congress bumped it up to $438 billion. The withheld the 2009 budget until Februard, 2009 and Obama signed it in March, 2009 with a budget deficit of $1./4 TRILLION. And that was their last budget. We've have had deficits over $1 trillion for the every year of the Obama administration.
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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