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...
Also Chris, explain why taxing income is superior to taxing consumption. Or do you envision a time when the federal government will be so small that it can be funded through tariffs and fees as it once was?
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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