A report from the nonpartisan Congressional Research Service, showing that cutting top tax rates does not stimulate the economy — a cornerstone of tax philosophy among many Republicans — was reissued this week after being pulled in early November amid complaints from Senate Republicans. An analysis of 65 years of data showed no relationship between cutting upper-income taxes and savings, investment or productivity growth. The report also found that such tax cuts over the past 65 years appear to be connected to the growing concentration of wealth among the richest Americans.
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Dec 2012
