Yeah, look how well that worked during GWB's presidency...
As Center for American Progress Director of Tax and Budget Policy Michael Linden found,
“in the past 60 years, job growth has actually been greater in years when the top income tax rate was much higher than it is now.”
In fact, “if you ranked each year since 1950 by overall job growth, the top five years would all boast marginal tax rates at 70 percent or higher.” The GOP, as Upton displays, simply has no explanation for these facts.
In a Bloomberg op-ed, wealthy investor Nick Hanauer also blew a hole in the GOP’s line of thinking, writing, “I can start a business based on a great idea, and initially hire dozens or hundreds of people. But if no one can afford to buy what I have to sell, my business will soon fail and all those jobs will evaporate. That’s why I can say with confidence that rich people don’t create jobs.” The GOP would do well to take note.
http://thinkprogress.org/economy/2011/12/04/381510/upton-cant-explain-tax-cuts-jobs/
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