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So What If Taxing Rich Hurts the Economy?

m90 Wrote: Nov 22, 2012 6:30 AM

Npo. Bush had 5.4% average unemployment and good GDP. The problem is Pelosi/Reid's first 100 hours of terror attacks on the economy, the Unffordab;lr Care Act and the socialism of Obama.

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NewJAl Wrote: Nov 22, 2012 8:01 AM

Barney Frank and his associates brought on the housing bubble, and I will not let that go or be forgotten. My only faulting of Bush is that he did not speak out loudly enough about threats to the economy and trusted the political snakes in the grass that occupy Washington. I do not think he realized people will smile and lie, as I do not think he or his run that way, but I have not drunk the Liberal koolaid about Bush. He is not at all the person painted by the Liberals.

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So What If Taxing Rich Hurts the Economy?

Consider this headline from a Reuters article in The Huffington Post: "Raising Taxes on Rich Won't Hurt Economic Growth, CBO Says."

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...